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Cash is one way that technical cofounders can vet business cofounders. It's a two-fold win for a technical cofounder: the cash compensation minimizes risk and

Cash is one way that technical cofounders can vet business cofounders. It's a two-fold win for a technical cofounder: the cash compensation minimizes risk and the fact that the business cofounder was able to convince others to part with their money is a good sign.

il 16y ago
What if I, like many founders, am young and don't have any cash or, for that matter connections? I'm of the school of thought that it's best to wait until you have a beta/MVP built and getting traction before fundraising rather than trying to get cash based on an idea. It's relatively easy for a business guy to HIRE a developer if they have money. Convincing someone to have faith in your business ability and commit to work for equity as a cofounder is the bigger challenge.
- seldo 16y ago
  If you don't have any money or any reputation, just an idea, you need to bring one hell of a convincing story. Try getting non-binding letters of intent from potential customers. But really, you're in the toughest position. Most business co-founders who didn't start with money were working with technical co-founders who were already their friends. If you don't know many nerds, start buddying up now :-)
- techiferous 16y ago
  "don't have any cash or, for that matter connections" Game over. If you don't have anything of value to add, it's not going to work. It's like applying for a job but saying, "I have no skills, but can learn on the job." "I'm of the school of thought that it's best to wait until you have a beta/MVP built and getting traction before fundraising rather than trying to get cash based on an idea." There's a big difference between an idea and evidence that people will buy a product. If you do enough quality market research, you can demonstrate the market potential of your product. You don't have to have a beta built before you can find out information about a market. And this is where you should start, because this is something of value that you can offer if you don't have cash or the ability to code. Learn how to find and evaluate good markets. Once you've found one, get funded and hire a coder to develop the beta. "Convincing someone to have faith in your business ability and commit to work for equity as a cofounder is the bigger challenge." That's because it should not be based on faith. It should be based on evidence. If somehow you can present facts that prove what you are trying to sell (yourself, your idea, whatever) then you'll be off to a good start.
- iworkforthem 16y ago
  You are to to say that it is easy to hire, you just need a bit of money. but NOT easy to secure talents, and even more challenging to motivate them.

il 16y ago

What if I, like many founders, am young and don't have any cash or, for that matter connections? I'm of the school of thought that it's best to wait until you have a beta/MVP built and getting traction before fundraising rather than trying to get cash based on an idea. It's relatively easy for a business guy to HIRE a developer if they have money. Convincing someone to have faith in your business ability and commit to work for equity as a cofounder is the bigger challenge.

seldo 16y ago
If you don't have any money or any reputation, just an idea, you need to bring one hell of a convincing story. Try getting non-binding letters of intent from potential customers. But really, you're in the toughest position. Most business co-founders who didn't start with money were working with technical co-founders who were already their friends. If you don't know many nerds, start buddying up now :-)
techiferous 16y ago
"don't have any cash or, for that matter connections" Game over. If you don't have anything of value to add, it's not going to work. It's like applying for a job but saying, "I have no skills, but can learn on the job." "I'm of the school of thought that it's best to wait until you have a beta/MVP built and getting traction before fundraising rather than trying to get cash based on an idea." There's a big difference between an idea and evidence that people will buy a product. If you do enough quality market research, you can demonstrate the market potential of your product. You don't have to have a beta built before you can find out information about a market. And this is where you should start, because this is something of value that you can offer if you don't have cash or the ability to code. Learn how to find and evaluate good markets. Once you've found one, get funded and hire a coder to develop the beta. "Convincing someone to have faith in your business ability and commit to work for equity as a cofounder is the bigger challenge." That's because it should not be based on faith. It should be based on evidence. If somehow you can present facts that prove what you are trying to sell (yourself, your idea, whatever) then you'll be off to a good start.
iworkforthem 16y ago
You are to to say that it is easy to hire, you just need a bit of money. but NOT easy to secure talents, and even more challenging to motivate them.