How Do You Recruit Senior Employees For Your Startup?

By Brett Fox | May 1, 2017

How Do You Recruit Senior Employees For Your Startup? By Brett Fox The average age of the engineering team at my company was 44 years old. The engineers on average had 10 patents. The team, by industry standards, was considered elite. Now, I assume you want to recruit really good senior people, not just mediocre…

What Should You Do When A Cofounder Quits And Holds Your IP Hostage?

By Brett Fox | May 1, 2017

What Should You Do When A Cofounder Quits And Holds Your IP Hostage? By Brett Fox I know the pain too well of cofounders quitting. I had two cofounders (“Jim” and “John”). I was the CEO, Jim was the marketing guy, and John was the engineering guy. We had worked together previously, and we understood…

How Important Is It That Founders Have Over 50% Equity?

By Brett Fox | April 23, 2017

How Important Is It That Founders Have Over 50% Equity? By Brett Fox I think the question implies that the founders need to protect themselves from getting screwed, so having 51% ownership means they can’t be outvoted. Let’s say you start with 51%.  Then you raise money and over time your stake is diluted to…

What Percentage Of Silicon Valley Startups Ever Make A Profit?

By Brett Fox | April 23, 2017

What Percentage Of Silicon Valley Startups Turn A Profit? By Brett Fox I was talking to a friend of mine who had recently sold his company for $300M. He said to me, “Brett, I’ve never been involved in a company that made a profit.” And I would bet over 95% of all startups, including the…

How Can I Get A Fortune 500 Executive To Be An Advisor?

By Brett Fox | April 16, 2017

How Can I Get A Fortune 500 Executive To Be An Advisor? By Brett Fox A person is not great just because they are a COO or a CEO.  They are no better or smarter than you are.  That being said, treat this person (and all people) with respect. Let me give you two simple…

What Moral Obligations Do CEOs Have To Their Employees?

By Brett Fox | April 16, 2017

What Moral Obligations Do CEOs Have To Their Employees? By Brett Fox Thank you again, ideal employee, on everything you continue doing. We could not achieve what we want without you. I asked you to be loyal, be a positive force, do your best always, recruit your friends, have the company’s best interest always in…

Should I Work With My Best Friend As A Cofounder?

By Brett Fox | April 9, 2017

Should I Work With My Best Friend As Cofounder? By Brett Fox I had a very close friend who was a co-founder of my company.  Here’s what happened: “You have an EQ of zero!” Ken yelled at me. “What the hell is an EQ?” I asked. “Perfect!” Ken screamed back. Then he hung up the…

When Should I Hire A COO?

By Brett Fox | April 9, 2017

When Should I Hire A COO? By Brett Fox I added a COO as a cofounder to my company. He was talented, had tons of experience and knowledge, and he helped me secure funding. There was just one little problem with having a Chief Operations Officer in a startup, especially an early stage startup. And…

What Are The Early Signs Your Startup Is In Trouble?

By Brett Fox | April 5, 2017

What Are The Early Signs Your Startup Is In Trouble? By Brett Fox “There is no negotiation on this term sheet,” the Venture Capitalist said to me. I was stunned. There’s always negotiation, isn’t there? Everyone negotiates, right? Not this VC. The terms we were given were horrible. I tried everything I could to get…

Is It Good To Approach Multiple Investors At The Same Time?

By Brett Fox | April 3, 2017

Is It Good To Approach Multiple Investors At The Same Time? By Brett Fox YES! Absolutely go to multiple VCs in parallel. I was fortunate to be an Entrepreneur in Residence (EIR) at a leading Bay Area VC. I learned something very important: A VC will invest in one company for every 100 face-to-face meetings…