Case 8 Week 2
Case #8 - Couch surfing International:
1) The members of the founding team each bring years of experience in website development, a passion for travel, and the desire to develop a community of compatible and adventurous individuals. Casey Fenton was responsible for developing the original idea and website for the business based on his experiences traveling through Iceland. Both Hoffer and Le Tuan had spent numerous years accumulating experience at software companies and also shared in the unique global perspective of the group. Additionally, both Fenton and Hoffer had prior involvements with technology startups and brought a degree of entrepreneurial experience to their team.
Although the members of the group represented a collective wealth of experience, none of the founders of Couch-Surfing, besides Hoffer, had previously started or worked for a non-profit organization. And although Hoffer had begun an online educational program, it is obvious that the unique challenges of running a non-profit business were unfamiliar to the group, and this created a gap in their skills and requirements. If the group could have predicted the future legal issues, they may have adjusted their strategy by hiring a legal consultant to guide the organization through the process.
2) Originally, the team chose to launch the business as a 501(c)(3) non-profit in the state of New Hampshire. In Chapter 8 of the textbook, the three most common legal forms of organization are identified as a sole proprietorship, general partnership, and a C corporation. Each holds unique benefits and challenges for the entrepreneur seeking to start a business.
A sole proprietorship is one of the most basic forms of business and occurs when an individual has the title to all business assets, but is also personally liable for the rights of any creditors. In a general partnership, two or more partners have the ability to start quickly, without many legal requirements, but similarly share unlimited
1) The members of the founding team each bring years of experience in website development, a passion for travel, and the desire to develop a community of compatible and adventurous individuals. Casey Fenton was responsible for developing the original idea and website for the business based on his experiences traveling through Iceland. Both Hoffer and Le Tuan had spent numerous years accumulating experience at software companies and also shared in the unique global perspective of the group. Additionally, both Fenton and Hoffer had prior involvements with technology startups and brought a degree of entrepreneurial experience to their team.
Although the members of the group represented a collective wealth of experience, none of the founders of Couch-Surfing, besides Hoffer, had previously started or worked for a non-profit organization. And although Hoffer had begun an online educational program, it is obvious that the unique challenges of running a non-profit business were unfamiliar to the group, and this created a gap in their skills and requirements. If the group could have predicted the future legal issues, they may have adjusted their strategy by hiring a legal consultant to guide the organization through the process.
2) Originally, the team chose to launch the business as a 501(c)(3) non-profit in the state of New Hampshire. In Chapter 8 of the textbook, the three most common legal forms of organization are identified as a sole proprietorship, general partnership, and a C corporation. Each holds unique benefits and challenges for the entrepreneur seeking to start a business.
A sole proprietorship is one of the most basic forms of business and occurs when an individual has the title to all business assets, but is also personally liable for the rights of any creditors. In a general partnership, two or more partners have the ability to start quickly, without many legal requirements, but similarly share unlimited