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Business relationships, like personal ones, go through ups and downs. The big difference is that business relationships involve money (usually someone else’s), and money (especially someone else’s) changes everything. That’s why it’s important to partner with the right co-founders when launching a startup. But how do you find a good fit?
To help answer that question, I talked with Lisa Stone, Co-Founder and CEO of BlogHer, a woman-focused media company and community that reaches more than 40 million unique visitors a month. Stone, along with her two co-founders Elisa Camahort Page (COO), and Jory Des Jardins (President of Strategic Alliances) not only started BlogHer, but have been together and still run the company seven years (and three venture rounds) later.
For entrepreneurs looking to partner with someone to found a company, Stone offers up some lessons she’s learned from her years of experience. In addition to the grander notions of partnership like trust, passion for your project, and not making business personal, there is one key tactical element that Stone believes was instrumental in uniting the three co-founders. You’ll have to watch the video for the full story, but I’ll give you a hint: stock distribution.
During my talk with Stone, she shared with me what I thought was a very savvy approach to managing both employees who have kids and those who don’t. As a parent myself, it’s good advice for CEOs everywhere, so I thought I’d add it as a short bonus video.