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So, essentially, you are looking for co-founders for a potential startup. And you're willing to put funds on the table. That can be very attractive to potenti
by siegel 9y ago
So, essentially, you are looking for co-founders for a potential startup. And you're willing to put funds on the table. That can be very attractive to potential co-founders. So, great.
But do you intend to put in funds so that your co-founders have a salary at the outset? That would concern me (even though there are legal reasons to actually do that very thing). The willingness to take the risk of foregoing salary and stability to make a run at something will tell you 2 things about co-founders: 1) They are risk takers (which, to a reasonable extent, is something you want); and 2) they believe in the idea. Both of those things go away when you throw money on the table on day 1.
My take on this - look for ideas and potential co-founders without putting the money thing out there at the outset. You want to have a co-founding team that you trust and who trust you, not a team that's attracted to you for your money. The attraction of instant funding can easily cloud your potential co-founders' judgment as to whether you folks could all work well as a team. That could be a potential disaster.
Some instant funding will give you a leg up. But it can't make up for a mismatched founding team.