When starting a company, the first step is to form a corporation, which protects founders from personal liability.

It's vital for founders to stay informed about the financial and legal aspects of their startup, as misunderstandings can lead to significant issues down the line.

Founders should consider setting up financial and legal structures early, including accounting systems and collecting legal documents, to avoid complications later on.

It's essential to acknowledge that both co-founders are invested in the success of the startup, which can help mitigate conflicts.

Once you've decided on a co-founder, formalize your partnership through legal incorporation and a vesting agreement to ensure shared commitment.

It's important to have co-founders who cover different skill sets and trust each other, as this foundation is crucial for navigating the challenges of building a startup.

Taking money from investors comes with accountability; if a startup fails to deliver, it can lead to lasting damage to the founder's reputation.

Finding a co-founder is essential for startup success, as it's incredibly challenging to succeed alone.

If you're investing your own money into your company, it's best to buy equity directly rather than using complex structures. You don't need a lawyer to negotiate with yourself when managing your own investment in a startup, but it's wise to seek legal advice or do thorough research to ensure everything is done correctly.