I'm another lunatic who belives that my company gonna be another unicorn. My company has good mission and a decent product.
I have never raised funds before. So i'm little scared. Its just I don't want my investor to screw me.
So what are the steps should be taken to retain board control? Is Dual class / super voting stocks enough to retain the borad control always?
Mine is a Delaware Corportion. Single Founder.
Thanks
1) Reverse your viewpoint. These people are joining your team. <em>You</em> are vetting them. You have every right to say no for any reason. Look for those reasons like Sherlock Holmes.
2) Plan ahead. If you're going for a billion dollars, recognize how much you can share at each stage.
May be dated though explains the idea well: https://twitter.com/trengriffin/status/858469226817900548
You need to read this book called Founder's Dilemmas. Trust me, it's worth it...(look for the .pdf version online).
https://www.amazon.com/Founders-Dilemmas-Anticipating-Foundation-Entrepreneurship/dp/0691158304
Dual class only works when you have an upper hand and that means traction. Otherwise you're at the mercy of your investors. Basically you decide which is more important. Comfort with other people's money means losing control vs going hungry longer and retaining control.