Yesterday before the Built In Chicago launch event over at Rockit, my cofounder Sara and I sat down to plan out our vision for #starterwedding. I can't give too many details away but I can say that I am very impressed with my cofounder for wanting to talk through everything upfront ranging from business model to potential customer base to a partnership agreement.
Partnership agreements are so important when you are bootstrapping a business. You and your cofounder(s) need to be on the same page, especially when you are dedicating your time and resources to a project. We agreed to a 50-50 ownership split since two of us are working on the project together and we divided up preliminary business responsibilities. I'm very fortunate to have a cofounder who has a complimentary skill rather than an overlapping skill set to my own so we are each planning to spearhead the parts of the business in which we have the most expertise. For example, Sara is going to be in charge of back-end development and accounting and I am going to handle marketing strategy and corporate governance. We will keep each other accountable on our separate tasks while working together on front-end design and customer service.
During our meeting yesterday, we also set short and long term goals for things that we need to set in motion immediately as well as for milestones that we want to achieve by Demo Day in mid-June. Part of keeping each other accountable is to stay accountable to our launch timeline. I'm very excited to continue iterating on this concept through the quarter and to show the Built In Chicago community what we have built at Starter Night.
This article was also published on Transforminista
