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