🤔 "How to respond when one of the first few customers who is helping us out product says jokingly ‘may be you should take me as your co-founder’."
Hey there, fellow entrepreneurs! Have you ever found yourself in a situation where a customer goes the extra mile to help out and then drops a playful "maybe I should be your co-founder" bombshell? 🤯 Don’t worry, you’re not alone! Here are some tips on how to respond to such comments:
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Acknowledge the Contribution: Express gratitude for their input and acknowledge their willingness to help.
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Light-Hearted Response: Keep the mood light by responding with humor. You could say something like, "Hey, if you bring the snacks, we might consider it 😉."
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Set Clear Expectations: Politely let them know that you appreciate their support, but the co-founder position is not up for grabs at the moment.
- Focus on the Friendship: Emphasize that you value their friendship and the support they have provided, regardless of official titles.
In this scenario, where the person is offering ideas that are already on your roadmap, it’s essential to tread carefully to maintain a positive relationship. Remember, communication is key in such situations! How would you handle this playful co-founder suggestion? Share your thoughts below! #StartupLife #Entrepreneurship #CoFounderDilemma
if people want equity, they need to pay.
He’s not joking. Promise you it will be ackward.
There are two ways you can manage this: either you stretch that relationship to the fullest and take what you get or you tell him right in his face that you appreciate him but you wanted to make it clear that you don’t consider taking him in as a cofounder and that you are telling it to him like that because you don’t like using people.
Option 1 is smarter for you.
Let him know that those were ideas already on your roadmap so you agree completely then let him know you are raising capital if he is interested (you know… if that’s true). It’ll set the expectation
Nothing wrong with a little equity cut with expirations as an advisor role. Especially if it’s useful.
Anything outside of that small cut. Time to pay up.
We had a prospective customer help as we were building and they invested with their money to get equity because they really needed this solution to take advantage of the latest advancements. Don’t necessarily just give equity like that. If they give ideas you already have, say this is already on the roadmap. Don’t be shy about it or they get wrong ideas that they’re contributing something.
A customer should be contributing with feedback if it’s a solution they really want to see in the market. Otherwise find other customers if it’s not going to be useful for them.
Say something like that’s exactly what I am looking for
Ideas don’t make someone a co-founder. How valuable are the insights he’s giving you? And how long-term could he be valuable? Could be worth exploring an official Advisor capacity using the FAST template in exchange for equity.
One aspect to consider is a *validated* feature is much-more valuable on a product roadmap than a feature that was simply someone’s idea.
As a product owner you better have dozens of ideas for your V2 through your V100. Some will never happen. Others won’t happen because they were bad ideas. Triage and priority in what really moves the needle is very important.
The only other aspect to consider is that it’s generally better to have a smaller slice of a larger pie than a bigger slice of a smaller pie.
Ask him if he’s quitting his job to do this full time for no pay
As a joke I would say something like “but with you around I wouldn’t have anything to do!” Because it’s flattering and also a clear joke/not taking the idea seriously.
Don’t give equity unless he’s really willing to sweat for it and bringing value
Sit down with him and ask him what he brings to the table as far as actionable opportunities and how much value he can create
Allow them to buy advisor shares if they gaurantee a multi year customer contract with their company and testimonial / marketing support.
I’d respond by checking the NDA, non-compete and IP ownership terms of the contract 🙃
Is the customer an enterprise?
“Laugh” as if you genuinely found it funny.
I always politely remind them it means twice the work for half the pay.
>He is letting access to his system and this is purely friendship basis.
Never mix business and friendship.
If you feel the statement signaled an expectation or feelings of entitlement, back away slowly or find a way to appease the person if you need access to their system.
If it truly was a joke, laugh and move on.
actually it’s tough to find people that naturally are motivated by the product you sell rather than the money.
try to see how you can employ them instead