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Published on Oct 2, 2017
Today’s question comes from Danny, and it’s an important one. It’s a question and concern that I hear from a lot of entrepreneurs…both seasoned and newbies.
Danny asks: We are in a pickle…We think our developer has become too powerful in our company. He is a great developer and agreed to work for a small salary and equity. He planned and built the tech platform, he set up our tech infrastructure, and he knows everything about the technology of our company (we’re both non-technical founders). He says that he can no longer work for equity and he is asking for a huge raise or he will walk. We can’t afford to pay him, and at the same time, can’t let him go because he know EVERYTHING about the tech side of our business. What can we do?
Danny’s question points to a problem that entrepreneurs face when they take a hands off approach and completely trust techies and developers to “take care of everything”.
This is a recipe for disaster and often ends up in a hostage situation…where the developer or tech person holds the entrepreneur hostage until they get what they want. This can wreak havoc on a business at any stage.
What you’re about to learn will reduce your anxiety and ensure that the critical knowledge in your business gets shared and documented and that everyone has access to the right information when they need it.