The hardest thing when founding a startup is to build the founding team. Some lucky entrepreneurs cook their startup right from the beginning through brainstorming with others, and voilà – team! But there are many entrepreneurs who come up with an idea and then start looking for their partners.
The relationship between cofounders is a lot like the relationships between spouses. So you’d want to make the right decisions and make sure you work great together. I recently read an amusing article on Inc. magazine suggesting a camping trip to test potential partnerships. I will be perfectly happy with testing the waters in an incubator or accelerator too. I don’t really feel the urge of eating dust in the desert. The thing is the article is about choosing your partner, assuming you have a pool to choose from. It’s not about finding them.
And finding partners is tricky.
So I started off with one potential partner, then a second one tagged alone, the first one said he is not seeking any active role in the company, and his job will probably be done before the production begins. The second one seemed promising as we met a couple of dozen times, but his availability seemed limited, until he finally admitted that assuming the risks and responsibilities of setting up a startup isn’t really what he is looking for right now. And woops! I have one and a half advisors, but no partners.
I advance in very little steps towards developing my own product, or at least its offline test version (I am not a programmer), but the search for co-founders is a real distraction:
Can’t raise money to pay for the development of the product if there’s no team to meet the investors. Investors, as we all know, invest in people first, ideas second.
I can’t recruit developers if I can’t pay any salaries.
Risk assuming entrepreneurs who are looking to join a startup based on someone else’s idea are nowhere to be found here, in Israel. People either have their own idea or they expect salaries pretty much from the start of the startup. And the investors keep expecting established teams and launchable products (if not launched with traction…).
But keeping an optimistic and keeping an open mind I’ve met several great people over the last few weeks. One of them actually gave me several ideas about other less common founding models: for instance, to have a potential team ready to meet investors and declare their intention to join the startup as soon as funds are there to cover their costs is one of them.
Does it really work?