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The Three Types of Cofounder

There are three types of cofounder:

  1. Legitimate cofounders, who have invested blood, sweat, and tears, and time, treasure, and talent, toward building their companies from day one;
  2. Honorary cofounders, who are granted the title by the legitimate founder or cofounders as part of a strategy to leverage the reputation of a prominent individual to raise capital, secure coverage, or otherwise add strategic value; and
  3. Shameless liars, who are usually early employees but sometimes employees who are quite far from being among the first. They independently lay claim to being cofounders to elevate their status and advance their own interests.

Over the years, I have asked and interviewed some entrepreneurs about the latter.

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Interviewing Entrepreneurs

Most startups, especially small enterprises, are immensely personal endeavors. Entrepreneurs feel the tremendous weight of every decision. While the right moves at the very least bring about one more day in business, a single wrong move can spell disaster for the people involved.

And, yet, startups are treated by outsiders, especially the financial press, politicians, and critics, as paths to equitable returns, engines of innovation, or symbols of corporate greed. When interviewing founders, one should remember what they, as human beings, have sacrificed, or will sacrifice, for not just success but their dreams.

Here are some of the best questions to ask entrepeneurs…

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