A couple of summers ago a new addition to our group of friends told me to make sure D and I had the legal aspects regarding our flat on paper. It was a slightly weird conversation to be having with someone I was meeting for the first time, but I could assure him that this was covered.
No one plans for things to go wrong but the formalities, should a question, crisis or doubt arise, have to be covered and the sooner those conversations take place the better. And that goes for business as well.
It’s reassuring with a professional relationship where these matters are seen as a given rather than an issue by all parties involved. It shows that everyone is serious. That everyone understands and agrees that starting something new you’ll be in contact with a variety of people and formalities need to be in place with regards to involvement and protecting the business ideas etc. Amongst the founders it’s also about making sure that all parties are as committed as the others and don’t run off and realise an idea on their own if a disagreement happens. It’s about communicating as much within the team as it is to the outside world that this, it’s not just for fun. We’re really doing it.
Having these conversations ensures that you, early on, cover important aspects and make sure you’re on the same page. If you’re not from the start you soon will be. Or you will part ways. We haven’t.
Tomorrow – Day 026 | Celebrations
Image source: http://www.flickr.com/photos/david_bertho/6258070887/
