4 ms·
If can self fund, why not just hire project managers and not partners?
Has anyone who has self funded done this approach while in incubator:
Hire freelance project managers to manage freelance programmers to create and complete the projects.
This is approach I am taking. I have struggled finding a co-found w/ desire and skill I need and I was thinking do I really need a cofounder, when can just use freelancer at 1st?
I have the passive income and some saving to boot strap for a while until working prototype is created and I am able to make a effective video pitch of my product, so I can get accepted into some of these launch conference. Then, with some networking and hopefully some early angel investors on board, I can find others who can have equity in the startup if they are willing to put some skin in the game. This will give me much more time to find the right people to join my team and allow me to have something to show that maybe worthwhile for an eager tech entrepreneur, looking for a good idea to be a part of the team.
I have wasted a ton of time just looking for potential co-founder. time to get the show on the road.
I would appreciate any mentoring or input from veteran startups that followed a similar path. Thanks
- DanielBMarkham 16y agoI've had experience in every configuration imaginable -- except having a cofounder. What I found is that farming out work is effective, but it also introduces a lot of friction into the customer/product development cycle. Somebody you pay just isn't going to have the passion you are, they are going to do exactly what you tell them (and sometimes not much else), and they very, very rarely help you get a grip on which way to go. My conclusion is that self-funding and bootstrapping as a loner is probably best until I absolutely must bring somebody else in, at which time I plan on using an intern. That way I have no illusions about what I'm getting in the deal. I think you can do it. I would just be careful.
- 10smom 16y agoThanks so much for the input dave. I am learning the hard way that some freelancer do as little as they can for as much money as they can. I am hoping to get to point that can find some quality interns to do some of work load. my biggest issue is find a quality IT project manager to manage the outsoruce project. That will take someone I will want I can work with and trust and will to give equity into the company. Hopefully I can get into some of these tech conference and meet people like that.
- 10smom 16y agoHOW DO I edit title so it shows it is an "ASK HN"?