Great companies are started by small groups of people with an idea they believe makes a difference.  Some founding teams have significant experience, some have virtually no experience and others have a combination of experience in the founding members. 

While there are many important topics to be addressed in the formation and planning of the business, nothing is more important than having a tightly integrated team focused on a common goal.  Having started and been involved in several successful (and not so successful) startups during the past 20 years, we are uniquely qualified to offer advice on what will and will not work.  In every business a tight focus on product management, product development and business development is required to generate substantial value.

Other important issues need to be discussed and agreed to including: stock ownership and vesting, funding (from bootstrapping, operations and investors), composition and responsibilities of management team members over both the short and long term and the composition of the board of directors including founders, investors and independent directors. 

But what makes the difference between success and failure in a new enterprises is the ability of the founders to function as a team.  Are the short and long term goals of the organization and the individual team members aligned with each other and the company?  Are the goals clear and specific?  Do all members of the founding team have input into the operational and strategic goals for the company regardless of their specific areas of expertise?

Understanding these issues and answering these questions is the foundation from which a lasting business can be built.