creating a contract that both of you agree upon. This contract could cover responsibilities, equities, contributions, and a vesting period for all parties involved. [[My Meetings/Slicing the Pie]] # Example ## Month 0-1: Initial Idea and Team Formation - Informal discussions about the business idea - Initial team comes together - **First equity discussion:** Brief, preliminary talks about everyone's expectations ## Month 1-2: Project Validation - Conduct market research - Develop initial business plan - **Second equity discussion:** More detailed talks about roles, contributions, and initial equity split ideas ## Month 2-3: Commitment Phase - Team members decide on level of commitment (full-time, part-time) - **Third equity discussion:** - Detailed proposal for equity split - Introduction of vesting concepts - Discussion of potential future dilution ## Month 3-4: Pre-incorporation Planning - Finalize business plan - Prepare for company registration - **Fourth equity discussion:** - Finalize equity split agreement - Agree on vesting terms - Discuss equity pool for future employees ## Month 4-5: Company Incorporation - Formally register the company - **Implement equity agreements:** - Draft and sign formal equity agreements - Include vesting schedules in company bylaws ## Month 6: First External Validation - Seek initial seed funding or join accelerator - **Review equity structure** with potential investors ## Month 6-12: Early Growth Phase - Start product development - Begin hiring key employees - **Implement employee stock option pool** ## Month 12: First Anniversary Review - Review company progress - **Equity check-in:** Ensure vesting is proceeding as planned, discuss any necessary adjustments ## Year 2+: Scaling and Future Rounds - Prepare for Series A funding - **Equity strategy review:** - Prepare for dilution - Adjust equity strategy for scaling team