All good tips and ones I've learned over time as well. Particularly like the "set a price on mistakes" part. I think communicating there is a healthy amount of mistake-tolerance does wonders for long-term personal and professional growth.
Just for curiosity, how do you think you and your co-founder would proceed if there was misjudgement about a $1,000 risk that turned into a $10,000 one?
Of course, we'd talk about it. If a mistake blows up we have to talk about it.
The point I'm trying to get across is that you have to be willing to let your partners make mistakes. Also, you have to trust that your partner is going to learn from their mistakes. I like adding a dollar amount to it because it gets you in the right mindset of focusing on important things. I think as a cofounder, it's your job to step in if you think someone's going to take the company over a cliff. Otherwise, give each other room to grow. Everyone in an early company is required to learn aka make mistakes until you stop making those mistakes.
Just for curiosity, how do you think you and your co-founder would proceed if there was misjudgement about a $1,000 risk that turned into a $10,000 one?