who you both respect enough -- and is strong enough -- to challenge you both; Sector expertise is useful as you don't want to spend all your time explaining everything, but someone under the influence of the cool-aid can sometimes reinforce a bad decision, so get this balance right; 18. Incorporate the company. 19. Have the first board meeting to "hire" the officers and give them the authority to conduct business. Have the first shareholders meeting and the first Annual General Meeting to elect the board; If you do not do these things now by the book, expect a nightmare when it comes to due diligence on future funding. Admin is the last thing you want to do when you are starting a business -- you want to build product! But this is not only good discipline, it is your legal responsibility as a company director; 20. Celebrate! You have have your own company! 21. Create a legal share register and issue share certificates. Pay for your shares (in the UK you need to place money in the company bank for the nominal value of the shares. US Delaware companies don't have nominal share values so check your jurisdiction on this process); You must record the history of issuing shares in the company share register; Have a folder for board meeting minutes AND record minutes for board meetings. These can initially summarise the main points, you don't need to quote every word. This attention to process will give comfort to