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my co-founder has decided to take more of a back seat in return for less equity but also less initial investment. we have been working on the project for a few
by JohnN 19y ago
my co-founder has decided to take more of a back seat in return for less equity but also less initial investment. we have been working on the project for a few months. i think he realised he is not THAT into internet businesses/ideas/projects. What do you reckon I should do? get another co-founder?
- staunch 19y agoShould you replace the loss of the single most vital resource you have as a startup? I think so. Unless you've got the energy and motivation to make up for it yourself.
- JohnN 19y agoi have the confidence and motivation to go it alone, however, i think startups work better with twos. most of the initial work is done. but post launch a one man band may be a little too much!
- SwellJoe 19y agoBetter with two if both are dedicated. Otherwise the second is a negative. You need a second to keep you motivated and moving when things on your plate slow down or get painful. A second that sits most of the process out is not part of that equation. If you need their investment, negotiate based on it as an early investment rather than as a partnership (a partner gets lots of sweat equity and a pittance based on some small amount of cash invested--equity bought with cash is usually much smaller and on less favorable terms in the sense that small sums do not bring seats on the board, etc.). But you probably don't need that money. Buy back their share (if you've already incorporated and issued shares), and call it a friendship rather than a business partnership. You do not want to deal with these questions down the road when the company has assets.
- akkartik 19y agoTake the time to discuss in detail the reasons for his loss of interest. There may be some good ideas there. I'm not suggesting trying to convince him to stay, but it's never too late to change focus in subtle ways.
- gyro_robo 19y agoCan I borrow your co-founder? I need another body to apply to YC. I don't need anyone else to do the work, just someone whose presence will tick YC's boxes.
- brianmckenzie 19y agoYC will probably see through that, unless your faux-founder has a CS degree from one of the top departments, or some equally amazing credential. You might just apply and stipulate that you're looking for a co-founder, rather than go with an impostor.
- JohnN 19y agohey i will join ya! lol
- danielha 19y agoHaving a cofounder isn't some unreasonable requirement. It's entirely for your benefit.
- gyro_robo 19y agoYou probably don't realize it, but that's a rather patronizing attitude. Not everyone works the same, and we don't all need co-founders to "to cheer [us] up when things go wrong."
- danielha 19y agoRight, and a lot of people lead quite functional lives with just one leg. But I don't think anyone chooses that route if they could help it. I don't mean to be patronizing (I don't see how it remotely is). Going at something with a partner isn't a requirement for success, nor is it only for "cheering up." Investors like to invest to successful ventures, and a business partner is a nice assurance for them. But go ahead and show 'em, you rebel without a cause. ;)