Are there any strategies or technique to make the most of a mastermind group?

The number one would be shipping product (or anything really) out in front of a customer. If you can't work together to get something done fast, that is usually a huge indicator that somethings wrong. That usually means your values or mission aren't aligned.

I feel your pain — I've been there several times in a couple of my companies. Each situation ended up being unique, and had to be handled differently. I think there are a few things to consider before you make your decision: -- 1. What is in your cofounder's way? Is you cofounder being held up by a lack of clarity? Lack of motivation? Lack of autonomy? One of my past cofounders was very good at getting the job done, but didn't naturally have the skill to lay out tasks in a manageable way. To get around this, I worked with the whole team (4 people) to write up process documentation that removed the need to "figure out what to do next" that was tripping up this cofounder. -- 2. What job was your cofounder brought on to complete? And is it being completed? One of my companies brought on a cofounder simply to give us a marketing platform — he had a huge online audience — but he did nothing else. At first, this caused tension; once we had specifically laid out who was on the team and for what purpose, it was easier to identify where responsibilities lay. -- 3. Is your cofounder capable of doing the job? One of the more painful ordeals I've gone through in business is bringing on a good friend, then realizing that — despite his talent and intelligence — he just wasn't able to perform the job I'd hired him for. His skills were better suited for a different job: he needs hands-on management; he works better with repetitive tasks that don't require big-picture thinking; he lacks assertiveness and confidence, which were critical for the management-level role he'd been hired to do. After I tried to clear everything in his way, it became clear the company couldn't survive if he remained on the team. I had to lay him off. -- 4. Do you just simply not like the way this cofounder works? In one of my startups, there was a cofounder who I didn't know all that well, but he had amazing industry contacts and domain knowledge. However, once we started working together it became clear that we had VERY different working styles. He drove me completely nuts with (what seemed to me to be) a very ADHD-style of planning, with projects starting and being dropped and then coming out of nowhere with a call at 21:00 to discuss something critical that would be forgotten tomorrow. I'm sure I drove him nuts, too. So eventually we ended up selling that company — it was that or shutter it — because we knew there wasn't a chance we'd be successful if we continued as we were. -- Working with other people is tricky in general. Our instinct is to assume that we're the best workers on the planet and everyone else is incompetent, an idiot, a slacker, or all of the above. Usually it's a combination of an organizational-level lack of clarity, poor communication, no processes, and (sometimes) plain ol' we-don't-see-eye-to-eye-on-things-ness. Hopefully that helps. Feel free to get in touch if you'd like to hear specifics on my situations, or if you'd like any help devising a strategy for resolving your cofounder trouble. Good luck!

If the team has aspirations to build a venture backeable business (i.e. Raise money for equity), then of course you should ask. Ask the CEO if he has a ESOP (Employee Stock Option Plan), and if it's part of the compensation package. You're allowed to ask. As for the right person on Clarity, pretty much anyone in this list https://clarity.fm/browse/raising-capital/venture-capital Tom seems to be fast to respond.

This is a typical problem with any start-up, i.e. intention to trade everything for equity. I am assuming that you're trying to trade equity for cash. In that case I would suggest you to look out for individuals with diversified skills and competencies. The reason being, less the number of individuals less the amount of equity that would be required to trade. Second option could be to look out for agencies to whom you could outsource the business process. I am not at all ashamed to mention that my own company is one such agency. However, my only piece of advice to to try and add some retainership component to your model, apart from equity, as in a long term it's easier for people to lose motivation in absence of any capital gains. The reason being, people don't understand the value of equity in startup. Rather, the time it could take for that equity to turn into something big; it may not happen as well. That's why they say there's nothing called free lunch. In my more than a decade experience working with entrepreneurs and helping them bootstrap, I have learnt that the market out there is crowded with individuals with a lust to join startup as a equity holder. In a short term, they may speak all those rosy language that may sound like coming directly from the Horse's mouth. But, in a long term you realize not everything is hunky-dory. As far as finding a co-founder or a CTO or any other executive team member is concerned, ensure that you put down the roles and responsibilities attached with each title. Apart from above, ensure that you communicate your expectation lucidly and understand the values everyone is required to bring on the table. Usual people who could be a good fit for you, apart from any agency, are people who aren't big on title. Is there anything specific you're looking at? Please feel free to revert with more clarity to receive clarity. I am just a call away. All the best!!

I'm a feelance CFO and I work actively with early stage companies. I've been at this for almost 30 years. Some of my current and recent clients wrestle actively with this very questions. My advice is to have the tough conversations right up front, early in the team building process. This usually consists of answering questions like, "who's in charge and what does that really mean," "who gets how much of the company and when and in exchange for what," "what are you, you and you really bringing to the table in terms of skills and cash," and "who is really in a life situation that will allow them to sustain their commitment to the business?" Any team that can get through these questions can get through the trials of surviving startup. I'm happy to talk with you directly about these issues and, in particular, to help look at them through a strategic financial planning lens.