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I have a very good idea for a company with a strong revenue model, but I don't have any technical expertise. I thought about outsourcing it but the idea and hire people but I didn't find someone who I trust or who is ready to sacrifice and be committed ... how can I find a co-founder, and do I really need one ? Can't I just outsource ? What about hiring contractors ? I have had the idea for a year now but stuck on moving forward ... please advise |
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Great answer by Sami! I would also add that you should try to find someone who you enjoy hanging out with ... You might have to spend a lot of good and bad times together and it would be much more productive if you actually enjoyed hanging out with your co-founder :) I would like to also stress Sami's point on "trying before buying". One thing you could do is to have a "testing period" for 2-3 months during which you could see how things go... Also make sure to have a company agreement between you and your co-founder - You might want to also include an equity vesting schedule over 3 years or so ... This means a percentage of the equity ownership is issued every year, so that if your co-founder you still have enough equity to get top talents and give them equity ... Let me know if I should drill further on this Hope this helps |
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Finding the right partner also requires a lot of communication, so talk, talk and talk about your ideas, how to implement, who does what, who brings what into the equation. Dont be afraid of conflict or disagreement with your parnter, its how good ideas become great ones. One more point to add. Make sure you share the same values! Ive seen some people who come together to do great things, compliment each other well...etc only to fall into conflict because their values differ. That doesnt mean you cant do things differently or have different approaches, far from it. It will be the values that you share, or dont, that make or break those differences. A good way to test this as Sami said have a "testing period", work on a small project with smaller stakes first, or have a milestone of a few months as Habib suggested. Finally, you talk about trust, trust comes with experience and is built and earned. It also requires a bit of risk taking, give trust to earn it, trust your gut always, and if you get burned, make sure you learn from the experience, and if you followed the advice of the testing period then you'll have only lost 2- 3 months of time and effort and invested time into a very good life lesson! |
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When thinking about a co-founder, first I would suggest that you look for someone that complements you. E.g. if you technical look for a business person and visa versa. Also, try before you buy. Make sure you both work with each other for some time before taking the plunge. As far as looking for a co-founder, it is a contact sport. You need to get out there. Network, email, get engaged, go to lectures with the startup community. The process will take time so do not expect quick results. Good luck! |
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To answer Habib's comment, I believe the 50% 50% model works very well and it has been proven. I'm not even a fan of the 49% 51% model unless you believe you guys will ever sue each other. If you have doubts and can't trust your partner, you should definitely consider a different co-founder. In a few simple words: Find someone you can trust, who complements you and shares the passion. |
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I have to agree with all previous gentlemen that answered, but would like to stress a point. You might be looking for a partner that is close to you i.e: your best friend, or even a relative. This alone might be hindering you. Based on prior experience friendship/kinship is one thing, and doing business is another. If your best friend and you totally agree on everything, that doesnt mean you will do great as business partners. When it comes to business it is all a different way of looking at things, and the fragility of a startup makes everything worse and more tense. So as stated in the previous answers, look around, expand your circle, and market your idea. |
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You need a co-founder if you don't have enough assets. A co-founder can be a friend, family, a business man you know, or anyone who has the same purpose you have. Oferte cazare Brasov |

