Years ago when we started Voonik, I and @hinava came up with tenets to ensure founder integrity. I am glad that till date we have stuck to these principles without a single exception.
- Company first. Stakeholders second. Founders last.
- 100% of time should be dedicated to Voonik and only Voonik. Don’t officially take up any advisory roles, mentorship roles or consultant roles. Exceptions allowed: Spending few hours to help budding entrepreneurs, preferably over weekends.
- Be fully invested in Voonik and only Voonik. Never own conflicting shares. (I sold Amazon shares as they conflict while Navaneeth can hold FreshWorks shares)
- Avoid any related party transactions. If super-beneficial to the company, have the other founder deal with the related party.
- Don’t treat venture money like your own money. You should be more careful. This is other people money.
- Never take any money off the table before your employees and investors have made money. Have a conversation with the other founder if you need money for family needs. Instead, feel free to ask for more ESOPs based on successful milestones.
- Never be the highest paid person in the company. (We had 5% of people getting more salaries than the founders)
- Whenever you ask for a sacrifice from your employees, you be an example by making that sacrifice first.
- Go through as much pain as you can personally but never let any pain or stress leak to the family. Safeguard your family from workplace stress and financials.