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How Giving Equity Away is a Bad Idea and Manufacturing Discomfort with the Help of Sports
Manage episode 423561669 series 3565588
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In this episode, George and Alicia discuss entrepreneur pitfalls and regrets, as well as the best way to start a new company. They emphasize the importance of having the end goal in mind and making sure that the steps taken align with that goal. They also share their biggest regret in their business careers, which is giving away equity too easily. They advise against giving away equity without careful consideration and suggest making it contingent and vested over time. They also discuss the importance of treating their marriage like a business, with defined roles and goals. They highlight the significance of teamwork, learning from failure, and maintaining a healthy sex life. They also touch on the topic of coaching youth sports and the lessons it teaches about teamwork, perseverance, and losing gracefully.
Takeaways
- Have the end goal in mind when starting a company and ensure that the steps taken align with that goal.
- Be cautious about giving away equity too easily and consider making it contingent and vested over time.
- Treat marriage like a business, with defined roles and goals, and prioritize maintaining a healthy sex life.
- Youth sports teach valuable lessons about teamwork, perseverance, and learning from failure.
Sound Bites
- "Equity is very scarce, and it's something that you have to hold on to with dear life."
- "Starting a business with your friends seems like a great idea at the time, but it can lead to arguments and complications."
- "The best way to form a company depends on the end goal: C corp for raising capital, LLC for a family business."
Chapters
00:00
Introduction
01:23
Having the End Goal in Mind
06:56
Treating Marriage Like a Business
14:03
Lessons from Coaching Youth Sports
Follow George and Alicia!
https://www.instagram.com/liftlikeamother
https://www.instagram.com/marriedtothestartup
https://www.linkedin.com/in/gemckenzie/
www.linkedin.com/in/liftlikeamother
https://www.aliciamckenzie.com/
https://liftlikeamother.com
9 episodes
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