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description: Review concepts for building a startup team. Topics include cofounder agreements, founder vesting, diversity, and hiring decisions.
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ms.date: 06/06/2024
8
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author: vhawk85
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ms.author: vahughes
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ms.topic: unit
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ms.collection: learn-startups
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durationInMinutes: 5
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quiz:
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questions:
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- content: "When you're considering someone as a potential cofounder, which of these attributes is likely to be most valuable?"
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choices:
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- content: "Graduated from an Ivy League school."
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isCorrect: false
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explanation: "Incorrect. Other attributes of potential cofounders are more important than college degrees."
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- content: "Has an IQ of 160 or higher."
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isCorrect: false
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explanation: "Incorrect. Other attributes of potential cofounders are more important than having a high IQ."
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- content: "Has a bias toward action and a history of taking projects through to completion."
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isCorrect: true
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explanation: "Correct. Both attributes give startups an important competitive advantage."
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- content: "Has a great sense of humor."
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isCorrect: false
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explanation: "Incorrect. Other attributes of potential cofounders are more important than having a sense of humor."
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- content: "Which of the following is a potential advantage of hiring an employee over a contractor?"
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choices:
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- content: "You can issue stock options to employees as an incentive to stay and perform."
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isCorrect: false
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explanation: "Incorrect. Providing an incentive to stay and perform is advantageous. But it's not the only option."
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- content: "Employees generally work for one company at a time rather than multiple clients in parallel."
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isCorrect: false
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explanation: "Incorrect. Having dedicated workers is advantageous. But it's not the only option."
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- content: "Contractors are less likely to be committed to long-term value creation."
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isCorrect: false
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explanation: "Incorrect. Having workers who are committed to long-term value creation is advantageous. But it's not the only option."
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- content: "Contractors' availability might change if they have other projects competing for their time."
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isCorrect: false
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explanation: "Incorrect. Having workers who are available when you need them is advantageous. But it's not the only option."
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- content: "All of the above."
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isCorrect: true
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explanation: "Correct. There are many advantages of hiring an employee instead of a contractor. You can give employees an incentive to stay. You can be their sole employer. They're also generally available when you need them and committed to long-term value creation."
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- content: "Which of the following is unlikely to be covered in a cofounder agreement?"
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choices:
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- content: "A description of the company and what it's setting out to achieve."
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isCorrect: false
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explanation: "Incorrect. A cofounder agreement typically does include a description of the company and its goals."
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- content: "The names of the cofounders."
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isCorrect: false
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explanation: "Incorrect. A cofounder agreement typically does include the names of the cofounders. Explicitly listing names helps to avoid disputes about who is a cofounder."
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- content: "The process to be used for making different types of decisions."
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isCorrect: false
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explanation: "Incorrect. A cofounder agreement typically does describe the process to use for making decisions. It also lists who is involved in decisions."
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- content: "The rights attached to shares issued to investors."
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isCorrect: true
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explanation: "Correct. A cofounder agreement describes how the cofounders will work together. It doesn't typically include the rights that are associated with investor shares."
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- content: "What is founder vesting?"
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choices:
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- content: "A mechanism for calculating the value of each founder's shareholding."
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isCorrect: false
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explanation: "Incorrect. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. Founder vesting is an agreement, not a calculation mechanism."
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- content: "A way of forcing existing shareholders to buy a departing founder's shares."
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isCorrect: false
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explanation: "Incorrect. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. When a founder departs, the company can usually buy back the departing founder's shares."
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- content: "A way for founders to sell their shares before the company achieves an exit."
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isCorrect: false
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explanation: "Incorrect. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. When the company achieves an exit, vesting agreements usually allow for immediate vesting of unvested shares."
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- content: "A way to protect the company if a cofounder departs early."
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isCorrect: true
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explanation: "Correct. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. Confounders who leave early typically own few or no shares."
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- content: "Which of the following is a good reason to build a diverse team within a startup?"
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choices:
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- content: "Tap into a highly skilled but underutilized talent pool."
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isCorrect: false
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explanation: "Incorrect. Tapping into a highly skilled, underutilized talent pool is an advantage of building a diverse team. But it's not the only option."
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- content: "Make better decisions by engaging a more diverse set of perspectives and experiences."
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isCorrect: false
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explanation: "Incorrect. Engaging many perspectives and experiences is an advantage of building a diverse team. But it's not the only option."
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- content: "Build products that better fit the needs of diverse customer groups."
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isCorrect: false
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explanation: "Incorrect. Serving diverse customer groups is an advantage of building a diverse team. But it's not the only option."
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- content: "Improve attraction and retention of employees for whom a diverse workplace is an important consideration."
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isCorrect: false
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explanation: "Incorrect. Being able to attract and retain employees is an advantage of building a diverse team. But it's not the only option."
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- content: "All of the above."
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isCorrect: true
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explanation: "Correct. Building a diverse team has many advantages. Tapping into a highly skilled, underutilized talent pool is one example. Other examples include making better decisions, building better products, and more easily retaining employees."
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1
+
### YamlMime:ModuleUnit
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uid: learn.startups.build-team.knowledge-check
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+
title: Module assessment
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+
metadata:
5
+
title: Module assessment
6
+
description: Review concepts for building a startup team. Topics include cofounder agreements, founder vesting, diversity, and hiring decisions.
7
+
ms.date: 06/11/2025
8
+
author: vaquresh
9
+
ms.author: vaquresh
10
+
ms.topic: unit
11
+
ms.collection: learn-startups
12
+
durationInMinutes: 5
13
+
quiz:
14
+
questions:
15
+
- content: "When you're considering someone as a potential cofounder, which of these attributes is likely to be most valuable?"
16
+
choices:
17
+
- content: "Graduated from an Ivy League school."
18
+
isCorrect: false
19
+
explanation: "Incorrect. Other attributes of potential cofounders are more important than college degrees."
20
+
- content: "Has an IQ of 160 or higher."
21
+
isCorrect: false
22
+
explanation: "Incorrect. Other attributes of potential cofounders are more important than having a high IQ."
23
+
- content: "Has a bias toward action and a history of taking projects through to completion."
24
+
isCorrect: true
25
+
explanation: "Correct. Both attributes give startups an important competitive advantage."
26
+
- content: "Has a great sense of humor."
27
+
isCorrect: false
28
+
explanation: "Incorrect. Other attributes of potential cofounders are more important than having a sense of humor."
29
+
30
+
- content: "Which of the following is a potential advantage of hiring an employee over a contractor?"
31
+
choices:
32
+
- content: "You can issue stock options to employees as an incentive to stay and perform."
33
+
isCorrect: false
34
+
explanation: "Incorrect. Providing an incentive to stay and perform is advantageous. But it's not the only option."
35
+
- content: "Employees generally work for one company at a time rather than multiple clients in parallel."
36
+
isCorrect: false
37
+
explanation: "Incorrect. Having dedicated workers is advantageous. But it's not the only option."
38
+
- content: "Contractors are less likely to be committed to long-term value creation."
39
+
isCorrect: false
40
+
explanation: "Incorrect. Having workers who are committed to long-term value creation is advantageous. But it's not the only option."
41
+
- content: "Contractors' availability might change if they have other projects competing for their time."
42
+
isCorrect: false
43
+
explanation: "Incorrect. Having workers who are available when you need them is advantageous. But it's not the only option."
44
+
- content: "All of these options."
45
+
isCorrect: true
46
+
explanation: "Correct. There are many advantages of hiring an employee instead of a contractor. You can give employees an incentive to stay. You can be their sole employer. They're also generally available when you need them and committed to long-term value creation."
47
+
48
+
- content: "Which of the following is unlikely to be covered in a cofounder agreement?"
49
+
choices:
50
+
- content: "A description of the company and what it's setting out to achieve."
51
+
isCorrect: false
52
+
explanation: "Incorrect. A cofounder agreement typically does include a description of the company and its goals."
53
+
- content: "The names of the cofounders."
54
+
isCorrect: false
55
+
explanation: "Incorrect. A cofounder agreement typically does include the names of the cofounders. Explicitly listing names helps to avoid disputes about who is a cofounder."
56
+
- content: "The process to be used for making different types of decisions."
57
+
isCorrect: false
58
+
explanation: "Incorrect. A cofounder agreement typically does describe the process to use for making decisions. It also lists who is involved in decisions."
59
+
- content: "The rights attached to shares issued to investors."
60
+
isCorrect: true
61
+
explanation: "Correct. A cofounder agreement describes how the cofounders will work together. It doesn't typically include the rights that are associated with investor shares."
62
+
63
+
- content: "What is founder vesting?"
64
+
choices:
65
+
- content: "A mechanism for calculating the value of each founder's shareholding."
66
+
isCorrect: false
67
+
explanation: "Incorrect. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. Founder vesting is an agreement, not a calculation mechanism."
68
+
- content: "A way of forcing existing shareholders to buy a departing founder's shares."
69
+
isCorrect: false
70
+
explanation: "Incorrect. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. When a founder departs, the company can usually buy back the departing founder's shares."
71
+
- content: "A way for founders to sell their shares before the company achieves an exit."
72
+
isCorrect: false
73
+
explanation: "Incorrect. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. When the company achieves an exit, vesting agreements usually allow for immediate vesting of unvested shares."
74
+
- content: "A way to protect the company if a cofounder departs early."
75
+
isCorrect: true
76
+
explanation: "Correct. With founder vesting, each founder earns equity over time, contingent on their ongoing involvement and performance. Confounders who leave early typically own few or no shares."
77
+
78
+
- content: "Which of the following is a good reason to build a diverse team within a startup?"
79
+
choices:
80
+
- content: "Tap into a highly skilled but underutilized talent pool."
81
+
isCorrect: false
82
+
explanation: "Incorrect. Tapping into a highly skilled, underutilized talent pool is an advantage of building a diverse team. But it's not the only option."
83
+
- content: "Make better decisions by engaging a more diverse set of perspectives and experiences."
84
+
isCorrect: false
85
+
explanation: "Incorrect. Engaging many perspectives and experiences is an advantage of building a diverse team. But it's not the only option."
86
+
- content: "Build products that better fit the needs of diverse customer groups."
87
+
isCorrect: false
88
+
explanation: "Incorrect. Serving diverse customer groups is an advantage of building a diverse team. But it's not the only option."
89
+
- content: "Improve attraction and retention of employees for whom a diverse workplace is an important consideration."
90
+
isCorrect: false
91
+
explanation: "Incorrect. Being able to attract and retain employees is an advantage of building a diverse team. But it's not the only option."
92
+
- content: "All of these options."
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isCorrect: true
94
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explanation: "Correct. Building a diverse team has many advantages. Tapping into a highly skilled, underutilized talent pool is one example. Other examples include making better decisions, building better products, and more easily retaining employees."
description: Review team-building fundamentals for startups. Concepts include attributes to look for in founders, approaches to risk management, and the use of mentors.
7
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ms.date: 06/06/2024
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author: vhawk85
9
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ms.author: vahughes
10
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ms.topic: unit
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ms.collection: learn-startups
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durationInMinutes: 2
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content: |
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[!include[](includes/7-summary.md)]
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### YamlMime:ModuleUnit
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uid: learn.startups.build-team.summary
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title: Summary
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metadata:
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title: Summary
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description: Review team-building fundamentals for startups. Concepts include attributes to look for in founders, approaches to risk management, and the use of mentors.
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