How to find co-founders

by TheGangaTimes. Posted on Sep 09, 2020    13    25


I am trying to find co-founders for my startup. So far two people are working on the project myself and a friend. I am looking for someone who understands business and how to push my startup when it comes to investors. I have met with people in the past but as soon as they start doing the work they disappear or dont want to put in the time that is needed. Does anyone no I could place where I could find cofounders?


Comments

[deleted] 1

[removed]

GaryARefuge

Rule 6

Booysenberry 2

I always recommend ‘hiring’ cofounders if you can afford it ie give them a small amount of equity (10-15%) in recognition of a below market rate. Make sure that you have a vesting schedule in place (one year cliff) so if it doesn’t work out that they don’t take a piece of your company with them.

  TheGangaTimes 1

Do you know how I would do a vesting schedule? I have looked into but dont really understand.

Booysenberry 2

The most common schedule vests an equal percentage of stock (25%) every year for four years on a monthly basis, typically with a one-year cliff ie founders don’t receive their first 25% unless they’ve been with the company for at least 12 months. I’m sure you can find some templates online.

  TheGangaTimes 1

Thank you

randomGuy4386 2

You can also try https://projectium.network/ which is meant to be exactly the place you are looking for.

Note that is yet in beta stage, but feel free to contribute your project there

rodrigopfraga 2

Angel.co is a nice spot too.

sous_vide_pizza 2

Think of the people you know who have the right skills, out of those think about who you trust 100% and you know they are genuinely good people you can work with. Things get weird very quickly when money and careers are involved, even with people you think you trust.

Finding someone who will match your effort is also really tough. You need to make sure they’re 100% onboard with the idea and are in a place in their life where they can dedicate a lot of time, even then they need to want to join. If you’re having to convince people rather than them trying to join, it’s likely they’re not going to be as into it as you are.

Most people are happy to just work 9-5, they aren’t particularly motivated by money and almost everyone is happy to take less money if it means they get it immediately. Maybe it’s a good time to look at hiring someone.

VLBusinessCoach 2

Finding a co-founder is ever increasingly difficult. Its like a marriage in many ways. Can you disagree without it turning into an argument? Can you remain focused and help each other bounce back? Have you both got realistic expectations?.

One thing i’d say is make sure you go for someone who is different to you, not the same background, education, etc. This way, they can offer value from different perspectives and experiences.

They say the first 10 members of staff in a startup sculpture the DNA of the culture, so ensure this person has the same vision but can look from a different angle.

The reason why I say finding a co-founder is ever increasingly difficult is that more and more people want to be rich, but don’t want to put in the work. So you spend time with people who will eventually disappear because they aren’t cut out for it.

Choose wisely

  TheGangaTimes 1

I know this to well. The last person who seemed interested wanted me and my cofounder to do all the work. Thankfully I didnt move forward with them and make a formal offer.

VLBusinessCoach 2

Unless they are putting all of the capital in, that’s unacceptable, and even then, not good enough.

Lets have a chat see if I can help guide you in this process

rush30032001 2

You don't find co founders, you have them.

  TheGangaTimes 1

But what if I need one more? Do I just go without and continue to let my company lack? Instead of looking for someone who can actually help?

rush30032001 5

You could find someone you know, someone you can trust, making a random person co founder in the company seems a bit too weird for me.

  TheGangaTimes 2

I agree. I almost made the mistake with the last person. The second the work was needed they wanted nothing to do with it. I was more looking for startup websites. Normally I would go to startup meetups in my area but with covid it's not really possible.

rush30032001 2

I haven't heard of start up meetings, but that approach seems interesting

gzebe 3
  TheGangaTimes 2

Thank you!

_Mizz 4

What’s up with these moderators anyways, y’all just don’t really like helping others, I thought Reddit was a place to connect with like minds, y’all just take all the fun out of it

  TheGangaTimes 1

Did you leave the comment they took down? I wasn't able to read it but it looked helpful.

_Mizz 4

Nah, I’m just mad they don’t let us say what we wanna say

  TheGangaTimes 1

I agree

GaryARefuge 1

Do NOT solicit OP.

DO teach OP how to approach this.