When Should You Stop Giving Equity To Your Team?

By Brett Fox | September 2, 2019

I was in a board of directors meeting for a company I am advising. The discussion moved to stock options. One of the investors, “Michael” said, “We should set the strike price as high as possible so employees that quit will not exercise their options.” Most of the other people were nodding their heads in…

The Simple Strategy To Get Your Team’s Buy In To Your Culture

By Brett Fox | August 28, 2019

I have a simple rule I like using, and I’ll share it with you. It’s always a red flag when something (with the exception being the technology) is supposedly complex. [Do you want to grow your business? Maybe I can help. Click here.] The same holds true for getting your team to buy into your company culture.…

Why Your 51% Ownership Guarantees You Nothing

By Brett Fox | August 27, 2019

There are so many things you think are important when you start your company that are usually meaningless. At the top of the list is equity splits and control. The thought process goes like this. “If I have 51% ownership, then I control the votes in the company. I can’t ever be fired, and I…

How Do You Become A Business Success?

By Brett Fox | August 26, 2019

“I want to be successful so badly I can taste it. What do I do?!” I said to the wall in my office. It was my first day after we launched our startup and I needed answers. “Yes, my son,” a booming voice responded. I was startled momentarily. “Who are you?” I asked. [Do you…

You Should Always Promote From Within. Here’s Why.

By Brett Fox | August 21, 2019

When I was just starting my career, I was blessed to work at a really successful company for a really good CEO. I learned a lot working for Jack Gifford at Maxim that I could use when I started my own company. One of the most important lessons I learned was the power of promoting…

What’s The Best Advice You Can Get About Fundraising?

By Brett Fox | August 20, 2019

I remember talking with my Dad about the absolute necessity of having Tier 1 investors for my company. I was an EIR (Entrepreneur in Residence ) at a San Francisco based VC fund at the time, and I had just formed my company. In fact, we hadn’t even started raising money. Yet here I was,…

What’s The Best Way To Determine Your Team’s Salaries?

By Brett Fox | August 19, 2019

“I want to pay half market rate,” the CEO, “Richard”, said to me. Richard had just raised his first round of funding. I asked Richard why? Richard said, “I want them (the employees) to share in my risk.” Richard’s feelings are not unique. You might feel the same way. “But 50% of the market rate…

What Should You Do With Your Flawed Employees?

By Brett Fox | August 14, 2019

When you’re just starting out, you may have some members of your team that have serious issues. Ideally, you’d let the person go and find a replacement. But you may not have that option when you’re just starting out because the perfect fit for a given role may not want to join your startup yet.…

What Are The 11 Steps You Can Take When A Cofounder Quits?

By Brett Fox | August 13, 2019

I started my company with two co-founders: Jim and John (not their real names). I was the CEO, Jim was the marketing guy, and John was the engineering guy. My two co-founders and I had worked together previously.  We understood the plan and direction we were going in. We started pitching VCs after working on…

Why Your Startup Doesn’t Need A Board Of Directors

By Brett Fox | August 12, 2019

“How many people do I need on my the board?” I asked our attorney Marcia when I was incorporating our company. “You need to have a board of directors, but it doesn’t have to be large. In fact, you can be the only member of your board when you’re starting out.” “Really,” I answered. “The…