Having a co-founder dilutes your equity and authority. When does adding a co-founder add more value than hiring an executive with similar skills? Understanding the unique role a co-founder plays can help you determine if and when you need one.
Contributor
Dave Anderson
Entrepreneur, Investor, Startup Advisor
Dave Anderson is an engineer, entrepreneur, and investor passionate about technology. Dave is currently on the investment team at Toyota AI Ventures where he invests in Seed to Series A companies in AI and robotics.
Previously, Dave founded Seasoned, an online platform to connect retirees to part-time work and Bamboo Detroit, Detroit's first co-working space for entrepreneurs. Dave has also mentored early-stage startups and managed NextEnergy’s participation in the DOE-funded National Incubator Initiative for Clean Energy (NIICE), a national network of leading cleantech incubators across the country.
Anderson is an electrical engineer with experience in advanced battery systems with Fortune 500 companies Bosch Battery Systems and General Dynamics Land Systems. In addition, he has earned several notable achievements including being named as one of Crain’s Detroit Business 20 in their 20s in 2015; recognized as one of 11 black millennials reviving Detroit by the Huffington Post; featured on the cover of BLAC Detroit Magazine alongside his wife, Michelle Anderson, as one of Detroit’s premier power couples, and featured in ABC’s 20/20 for his work with youth entrepreneur Asia Newson.
Anderson holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from Harvard Business School where he served as the student body Chief Entrepreneurship Officer and helped launch HBS Accelerate, an educational website for entrepreneurs
Contributions
Learn By Function
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Navigating a Deal Before You Sign a Term Sheet
How do you assess the offer and navigate a term sheet, ensure you’re getting the best terms, prevent critical misunderstandings, and optimize your level of control and cash upon exit? HBS faculty, serial entrepreneurs and investors identified 3 different angles from which you need to examine terms.
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Common Funding Mistakes when Scaling
Many founders conflate raising a significant amount of venture capital or getting a high valuation as validation of their current business model. But as you scale, past behaviors stop working effectively and often processes are strained and break. How do you avoid the most common scaling mistakes?
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3 Hacks for Calculating How Much Your Startup Needs to Raise
Many startups make fatal mistakes when calculating how much they need to scale. These 3 essential things can help you figure out how much capital you need to raise to scale effectively, without getting overwhelmed by options and opinions, or swayed by offers.
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