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I think there is something you need to know: An idea is worth absolutely nothing, or very close to nothing. The money is a result of execution, a direct correla
by mattwdelong 17y ago
I think there is something you need to know: An idea is worth absolutely nothing, or very close to nothing. The money is a result of execution, a direct correlation even; The better the execution, the more money.
You stated: "I wonder the best way to handle partnerships, especially when the idea was basically entirely only one of the partners."
You should be wonder how you can find a partner who is willing to do all the work while you are off doing your own thing at school, with no time to spare. I am not kicking school, but if you're serious about an idea you would be willing to execute it. If a partner is doing all the work then he should be getting 90% of the assets, you should be MORE than happy to get 10% for your idea. As for finding the person to do all the work for you, good luck.
What I am trying to say, is a partnership is exactly that..a PARTnership. Meaning, you have to do part of the work, you can't just get someone to do all of the work and try and reap the rewards. The result, of course, will will be another falling out with yet another partner.
Give equity where equity is due and you will have your best chance at finding a co-founder. .
An alternative solution would be paying a developer to develop the project and pay him with the funds that you don't have. Remember borrowed money MUST be paid back if the venture fails.
My suggestion would be doing work on the side, if you have none then make some free time, and when you are at a percentage of completion you have a few options. You can demo the website to someone who may be willing to invest for X percentage, or you can find someone willing to co-found with you and do some of the work for X percentage of the venturet. The former has more risk associated as you are dealing with monetary involvement. The later, unless you promise compensation, has little risk as you are only involving someones time which they are contributing.
Best of luck
- zeynel1 17y ago"An idea is worth absolutely nothing, or very close to nothing." There are always people who say the opposite is also true. But unless you have at least a mockup, or a prototype, I agree that an idea don't have much value. The idea can be misleading without modeling of some kind.