How to deal with painful cofounder / friend?
3 years in we have zero costs and 1 big customer. The company had revenues of $150K in 2015.
All profits are split 1/3 each. Equity is split 1/3 each.
1 of the friends/cofounders is a pain. The other 2 founders agree on this assessment. The main problems with annoying cofounder is his dogmatic attitude and short term vision. He would rather charge our only customer for every minor software tweak instead of enabling our customer to build their business bigger which would in turn help our business. He does not want to do any work to seek out new business. He refuses to help on any parts of the business that he did not explicitly choose to work on.
I tried to offer a deal to him this week where I would take on new development efforts for a new product. I would not expect him to contribute at all but he insisted that he still get 1/3 split because I would be using some functionality that we had already developed though I plan to rewrite everything from scratch because our existing code base is a POS.
I would like to get him to agree to take a lower revenue split because I don't want to work with him but he took a hard line and offered to help build the product which is not what I wanted.
The 2 cofounders that agree on his poor attitude have not kicked him out because of long standing friendship.
Any comments or suggestions are greatly appreciated?