Often downplayed in the excitement of starting up a new business venture is one of the most important decisions entrepreneurs will face: should they go it alone, or bring in cofounders, hires, and investors to help build the business? More than just financial rewards are at stake. Friendships and relationships can suffer. Bad decisions at the inception of a promising venture lay the foundations for its eventual ruin. The Founder's Dilemmas is the first book to examine the early decisions by entrepreneurs that can make or break a startup and its team.
Drawing on a decade of research, Noam Wasserman reveals the common pitfalls founders face and how to avoid them. He looks at whether it is a good idea to cofound with friends or relatives, how and when to split the equity within the founding team, and how to recognize when a successful founder-CEO should exit or be fired. Wasserman explains how to anticipate, avoid, or recover from disastrous mistakes that can splinter a founding team, strip founders of control, and leave founders without a financial payoff for their hard work and innovative ideas. He highlights the need at each step to strike a careful balance between controlling the startup and attracting the best resources to grow it, and demonstrates why the easy short-term choice is often the most perilous in the long term.
The Founder's Dilemmas draws on the inside stories of founders like Evan Williams of Twitter and Tim Westergren of Pandora, while mining quantitative data on almost 10,000 founders. People problems are the leading cause of failure in startups. This book offers solutions.
"[A] seminal work.... Sure to be required reading in business school curricula, this illuminating and captivating read will also appeal to aspiring entrepreneurs or founders who want to make better decisions in existing ventures." (Publishers Weekly)
"Ten years of extensive research combined with winning case studies make this a trustworthy source not only for the potential startup owner but also for the classroom." (Library Journal)
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Too much talk on the data
Before buying I was excited that Noam has gather data from 1000s of businesses but after completing the book, the book was more towards sharing and talking about the data instead of using those data to create insights and actionable knowledge for the listeners.
Oh... and if you're a listener on the go, its better if you get the a book instead of an audiobook for Founder's Dilemma because this book will point you to a graph instead of explaining to you the graph. (e.g: Here is what 27% of the companies did that the others didn't do. Refer to graph 10.1)
Mark could have added more emphasis into his tones at different points of the book. There wasn't any feeling in his reading. It's like the tone is same when the founder's company went bankrupt and when the founder's company went IPO.
Disappointed because there was too much sharing of the data instead of giving the listeners actionable knowledge to the data.
If you want a great book which applies the author's insights from his data research + a narrator's tone which emphasis key points on the books, get Great by Choice by Jim Collins.
- Stanley Tan
An important FACT based book on entrepeneurship
Yes, I will refer to the book often as it is full of interesting facts and figures
I appreciated the research based findings.
Honestly, this might be a better book to read in print and refer back too, but it was an entertaining, easy listen in the car too
So many entrepreneurship books are just stories and anecdotes, this one is actually based on the findings of research. It's really fascinating!