If you missed any of the previous “Startup Snacks” – you can find them here!
This week’s snack deals with the startup team and methodologies for doling out equity to the founding team and operating agreements. Granted this is not a fun exercise or the most glamorous topic, but it is something that all founding teams should prepare and have documented before everyone jumps in – to save you headaches in the long run.
We have seen founding team blow-ups and it is much easier to unwind these if all of the operating agreement documents and splits are prepared ahead of time.
Here are a few methodologies and templates to consider:
- Founders Equity Split Wizard from FounderSuite – easy, simple to use, straightforward – click here for a copy – copy this document to make your own!
- Slicing Pie Methodology – a dynamic model for structuring equity and ownership. Slicing Pie simply provides a fair and logical structure to anticipate and manage the changes. More summary information here. And a spreadsheet here for using this methodology. Here is the website for additional information.
- Founder Agreement Template from University of Pennsylvania Law School Entrepreneurship Legal Clinic – click here.
- Startup Operations Tracker Document – from headcount to expenses to funding to buzz – click here for document.
Also, consider registering for the University of Cincinnati Law Pro-Bono Day – information below.
October 5 – REBUILD Conference – REBUILD, formerly the High Performance Buildings Seminar, is a conference that equips leaders to build sustainable value in their organizations. Divergent questions lead to innovation. Info/registration here.
October 11 – The Green Room featuring 4 startups in the renewable space. This time around we will be featuring Orion Electronics, Cleanup Collective, Rich Life Farms, and Small World Market. Register to attend via this link – info/registration here.
Oct 10 – 14 – StartupCincy Week – Learn more here!
October 14 – StartupCincy Week Job Fair – contact Abby at Cintrifuse (firstname.lastname@example.org) if your company is interested in participating.
October 18 – BioOhio Biotech Forum – Miami University and BioOhio – info/registration here.
October 19 – “Connecting the Coasts to the Heartland” – presented by One America Works, OhioX, Youngstown Incubator, HG Ventures, Youngstown Business Incubator, and Comeback Capital – info/registration here.
October 20 – “Free Legal Advice to Better Your Business” – University of Cincinnati Entrepreneurship and Community Development Clinic and Duke Energy – info/registration here.
October 26 – OhioX/Rev1 Corporate Innovation Summit – info/registration here.
Our mission at the Alloy Growth Lab is to help startups with the following:
- Navigating the investment/funding landscape;
- Connecting them to fellow entrepreneurs, potential customers, and regional talent;
- Developing and managing a strong growth strategy;
- Gaining traction with the right product and market.