New top story on Hacker News: I want to start a new company, but I'm CEO at a funded startup
I want to start a new company, but I'm CEO at a funded startup
8 by foundersdilemma | 0 comments on Hacker News.
I'm in a pickle. I have a funded enterprise B2B startup that seems to be going well, but it's clear that the industry is highly competitive, but we are growing quickly. I recently stumbled upon an entirely unrelated business idea, simply because of long conversations with customers in a particular vertical and it's very clear that there's a huge opportunity there (possibly bigger than what we are doing now). How should I handle this? I feel a responsibility to run the current company to the current investors hence I wouldn't want to be distracted, but at the same time, this opportunity is bigger and requires more capital than the current company can finance. I have verbal validation "if you do x, we will partner with you" and I'd like to experiment. There are several concerns: i) How to handle the current team and investors, it can't seem like I've given up on the current business; it still has a lot of potential ii) the reality is that if I run it under the current umbrella we will all be diluted significantly iii) I'm thinking of having a separate c-corp below the current one wholly owned, how do you present this to the board without seeming to be fully distracted? Any ideas would be very welcome
8 by foundersdilemma | 0 comments on Hacker News.
I'm in a pickle. I have a funded enterprise B2B startup that seems to be going well, but it's clear that the industry is highly competitive, but we are growing quickly. I recently stumbled upon an entirely unrelated business idea, simply because of long conversations with customers in a particular vertical and it's very clear that there's a huge opportunity there (possibly bigger than what we are doing now). How should I handle this? I feel a responsibility to run the current company to the current investors hence I wouldn't want to be distracted, but at the same time, this opportunity is bigger and requires more capital than the current company can finance. I have verbal validation "if you do x, we will partner with you" and I'd like to experiment. There are several concerns: i) How to handle the current team and investors, it can't seem like I've given up on the current business; it still has a lot of potential ii) the reality is that if I run it under the current umbrella we will all be diluted significantly iii) I'm thinking of having a separate c-corp below the current one wholly owned, how do you present this to the board without seeming to be fully distracted? Any ideas would be very welcome
