tool 3 of 12 · class 5 · design for innovation

insight statements

Ten statements, each backed by something a real person told you, that say what you now know that you did not know before the interviews.

instrument · founder agreement and cap tabledue before class 6 · Sep 29venture book chapter · the evidence

what you make

Insight statements

Ten statements, each backed by something a real person told you, that say what you now know that you did not know before the interviews.

An insight is not a summary. It is the sentence that changes what you build. Ten of them, with evidence, is what separates a venture from a pitch.

Founder agreement and cap table

One page: who owns what percentage, what each founder is responsible for, how the split vests, and what happens if someone leaves.

Class 5 covers company types and equity. A founder who has actually done a cap table once is rarer than you would think, and the conversation is easier now than in December.

what good looks like

  • 01
    Each insight names the person and the quote that produced it.
  • 02
    At least three insights surprised you. If nothing did, the interviews were too friendly.
  • 03
    The cap table adds to 100 percent and every founder signed off on it.
  • 04
    Vesting is written down, even if it is simple: four years, one-year cliff, or whatever you agree.

how to do it

  1. 01
    Pull every surprising quote from your interview notes into one document.
  2. 02
    Group the quotes. Each group that changes what you would build is an insight.
  3. 03
    Write each insight as one sentence, then attach its strongest quote.
  4. 04
    Sit down as founders and split the equity. Say the uncomfortable part out loud.
  5. 05
    Write the cap table and the leave rule, and have everyone initial it.

the template

Founder agreement and cap table

Print this page, or copy the structure into your Venture Book. Every line is meant to be filled in.

FounderRole and what they ownPercentVestingIf they leave
back to class 5

where it comes from