4 ms·
I'll answer this based on my experiences: 0. Having a team where everyone is committed is ideal. It's very difficult to run a company by yourself (beyond a ver
by akbar501 13y ago
I'll answer this based on my experiences:
0. Having a team where everyone is committed is ideal. It's very difficult to run a company by yourself (beyond a very small operation). Finding a co-founder should not be driven by YC, VCs, etc. A co-founder is about the success of your company. Is it absolutely necessary, no. Does having a good partner greatly increase your chances of success, yes.
1. Should you settle for a sub-optimal co-founder? No. Starting a company with someone is a long-term commitment. It's like marriage in so many ways, so you should take your time and find the right match to grow your business. On the other hand, don't set your standards so high that you're stuck doing everything on your own forever. Basically, know what characteristics you need in your co-founder so that the company's success is maximized.
Also, put in effort to find the right co-founder. Get out there, talk to people, let people know you're in the market. And don't be afraid to date before marriage. There are many ways to start working together. You can start with a consulting arrangement, then grow to co-founder after verifying that everyone can really work well together.
2. Should you share equity with someone who joins late?
The work you put in before finding a co-founder or getting an investment is not highly relevant. First, think of this as if you're the 2nd co-founder. Would you be ok taking a smaller stake for the next 2, 4, 10 years just because the other person did a few months work before you joined?
Building a company is about the future. That's what everyone is rewarded for. If a late joining co-founder helps grow the startup from a pre-revenue company into a company with millions in monthly revenue then they do deserve to be richly rewarded for their contribution.
3. Think past YC, past funding.
Make decisions that will optimize the value and growth of your company. YC is a 3 month program. You'll be done with it before you know it. Funding is an event. When it's done it's done. Imagine you're now done with YC and you've been funded. What type of co-founder do you need to grow your idea into a large company?