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LENNIE MORENO, FOUNDER AND CEO OF SOFDESK

For Lennie Moreno, being the CEO of Sofdesk is not an end in itself. Since he was young, his wish was to acquire enough credibility to be able to inspire and help people with positive messages. Entrepreneurship was therefore one of the avenues he chose to reach people on a larger scale. He transmits his passion within his company, but also through his Clean Out Your Closet foundation, through his conferences or visits to detention centers, prisons or schools. He also does it through rap music, which he uses as a catalyst and therapy. "In everything I do, I try to simplify people's lives, to find concrete solutions," he explains. "It shouldn't be complicated to find our way and our happiness in the little things we do every day." His company, which offers turnkey software solutions in the fields of roofing and solar energy, serves a clientele spread across Canada and the United States. With its latest product Roofgraf and other tools in development, Sofdesk is preparing to open new markets.

PARTNERING IN BUSINESS: LOVE OR REASON?

Solutions from the School of Entrepreneurs of Quebec

Taking on partners is undoubtedly a major and stressful decision, a bit like getting married. Between reason and passion, here are some ideas for choosing your business partners!

A good network of contacts, financing, expertise: these are three ingredients that are highly sought after by any start-up entrepreneur! However, in many cases, one of them is missing.

Collaborators or shareholders?

Among the many people you will meet along the way, you will likely find someone who can fill one of your most pressing needs. You will then even consider partnering with them and sharing shares in the business.

It makes sense to want to sell shares to a shareholder who allows you to fill one of your gaps or accelerate the start-up. But be careful, you should not sell your soul at all costs!

At this stage, it is important to ask yourself certain questions: does the investor bring added value? What are the lender's expectations? Do their values match those of the company? What is the potential for collaboration in the medium term? In some cases, you will be looking for a partner with specific expertise that complements your own and without which you will not be able to move forward. However, partnering on the basis of skills alone is not a guarantee of a successful union.

Let's make this analogy: a spouse may have everything they need on paper, but does the magic work between you? Are you able to communicate, negotiate, argue well? You admire this person, you trust their judgment, but do you simply have fun together?

Let us remember this: if before getting married it is better to live together, it will always be wiser to work together before associating.

Need a tool in the recruitment process? Psychometric tests allow you to analyze the behavioral characteristics of a potential partner and yours in order to predict a certain compatibility. Good tests, now more affordable and accessible, are constructed in such a way that there are no right or wrong answers but rather a range of possible reactions, then associated with personality types.

Distribution of shares

Once love is assumed in broad daylight between two partners, it is necessary to determine the share of actions to be shared. Here, it is the universe of possibilities.

In your negotiation process, try to clearly distinguish between salary and equity. These are two elements that must be addressed independently.

Being generous with your company shares gives value to your partners. But that's not all. Make sure they adhere to your vision and values, two great drivers of motivation and commitment. It's not just about money!

A partner comes in after the business is up and running? You will then need to know the value of your business. Some professionals such as a Chartered Professional Accountant (CPA) or a Chartered Business Valuator (CBV) can help you establish a winning percentage for the distribution of shares for each party.

Plan for the worst

Yes indeed! Even if life is sweet between you and your partner(s), you have to prevent the worst. No matter if your partners are your friends or relatives, a detailed shareholders' agreement will protect you in the event of a professional divorce. Long and happy life to the new partners!