COMM 320 Lecture Notes - Lecture 7: Moral Support, Opportunity Cost, Phantom Stock
11 Nov 2018
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Document Summary
Power of the team: the size of your organization is also directly correlated to the amount of revenue your business can derive, teams have a higher chance of success due to advantages. Interdependence of team members provide productive feedback for each given member: having a team around you provides moral support. The advantages of team: feedback, increased skill set, moral support, capacity for innovation, extended network, higher social level of support. Entrepreneurship is hard work: distribute responsibilities between team members, do not do everything by yourself. It is a good idea to use psychological and personality tests, but do not rely on them. 100: no single personality or demeanor is best suited for entrepreneurship. Equity compensation: two basic ways of distributing equity, founder shares, option pool, limit the group of people receiving founder shares to 3 people, do not evenly divide shares between founders.
