[I submitted this anonymously because the person in question may very well read this site now or at some point in the future.] In short: I have a potential co founder, which is something that everyone seems to say is good. The problem, though, is that I don't think this guy is perfect (he may well think the same of me), for various reasons. Ok, no one is perfect, but I know people that I think would be "about as good…
Great question. This reminded me of Joe Kraus's article on the subject. He makes a compelling case: http://bnoopy.typepad.com/bnoopy/2004/09/hiring_no_false.html
Cofounders - how high a bar?
11–20 of 21 posts
Re: Cofounders - how high a bar?
#12[I submitted this anonymously because the person in question may very well read this site now or at some point in the future.] In short: I have a potential co founder, which is something that everyone seems to say is good. The problem, though, is that I don't think this guy is perfect (he may well think the same of me), for various reasons. Ok, no one is perfect, but I know people that I think would be "about as good…
You want the former, you don't want the latter. Someone who's not perfect but listens well, is interested in improving, and is passionate about the company will likely soon be perfect, or as close to it as you're realistically going to get.
If he's not really into it to begin with, then it doesn't matter if he's perfect, you still don't want to partner with him.
Re: Cofounders - how high a bar?
#13Depends what you want him to do. Things can be learned and you can always use an extra hand. What you want ot worry about is "why is he getting into it?" In the "world is Flat" T.Friedman states P+CI. That is Passion + Curiosity Intelligence. Your startup and mine have less than 5% chance to succeed and yet we believe like no-one else that 5% is big enough to go thru this journey.We like the money, but if money is yo…
"if money is your first drive then you will eventually quit at some point when evrything says it is going to be over in One minute. At that point the co-founders who were in it for the money will walk out. The one who were in it for the passion and the challenge to learn and master the ultimate startup language ( not Technology, but "loyal and satisified Users") )will get 2gether and ask themselves " How the F&$ we got into this mess and how the F%^$ can we clean it up now, make it look good and have more users? "
Re: Cofounders - how high a bar?
#14[I submitted this anonymously because the person in question may very well read this site now or at some point in the future.] In short: I have a potential co founder, which is something that everyone seems to say is good. The problem, though, is that I don't think this guy is perfect (he may well think the same of me), for various reasons. Ok, no one is perfect, but I know people that I think would be "about as good…
Re: Cofounders - how high a bar?
#15Re: Cofounders - how high a bar?
#16Earlier quoted context omitted.
To answer a few questions: One of my issues with this person is that while I do like his company, and respect him in a lot of ways, we think differently about how to move things forward. I'm much more of a "below the radar, live cheap and get something working" guy, whereas he's more along the lines of "VC funding or bust", without even having much of a prototype. That just sounds bad to me. Though I recognize that f…
I know several first time entrepreneurs from several years ago that "tested" waters in initial stages trying to raise VC money. And it's damn hard! So unless this guy has some inside connections and has been there, done that--I'd personally say it is not only a bad idea but potentially a huge waste of time--same thought I'm sure you must be having. If you can get going without any funding(which it appears you can) ST…
His idea of "if nobody is going to fund my future idea, then the world doesn't deserve it," is still actually... factual. Exactly. Don't fund that idea. DO NOT bootstrap that idea. Do not do that idea. If that idea really does require millions of dollars, do something similar and more basic to start. Don't do a half-assed job if you really calculated it would take you millions just to get launched. Remember, the world doesn't deserve it, and you can't build your idea. So build a smaller version. Simple. And you only have to get a few customers to be in the black, instead of millions. You just won't be on the news.
Oh, and it gives you something to do--scaling it up and adding new features--after your initial launch. While, if you spend all these years and all this VC money before you can launch, and nobody cares about your product when it's launched, you're probably going to abandon ship. So, if you need VC money just to launch, you're nuts.
Re: Cofounders - how high a bar?
#17[I submitted this anonymously because the person in question may very well read this site now or at some point in the future.] In short: I have a potential co founder, which is something that everyone seems to say is good. The problem, though, is that I don't think this guy is perfect (he may well think the same of me), for various reasons. Ok, no one is perfect, but I know people that I think would be "about as good…
You both need the same drive to build something great. But you need to have different skills, different areas you enjoy working on. If you don't, you'll fight over the mythical bike shed and the hard solitary work won't get done. And there's a lot of hard solitary work in a startup.
Re: Cofounders - how high a bar?
#18[I submitted this anonymously because the person in question may very well read this site now or at some point in the future.] In short: I have a potential co founder, which is something that everyone seems to say is good. The problem, though, is that I don't think this guy is perfect (he may well think the same of me), for various reasons. Ok, no one is perfect, but I know people that I think would be "about as good…
One of my sayings is "Perfection is Difficult" meaning that it is actually impossible. I wouldn't want to start up a company with someone I couldn't completely trust. Having different skill sets is actually a very good thing, but you need to really like the company of the person.
You can never completely trust VCs ;)
Re: Cofounders - how high a bar?
#19Earlier quoted context omitted.
To answer a few questions: One of my issues with this person is that while I do like his company, and respect him in a lot of ways, we think differently about how to move things forward. I'm much more of a "below the radar, live cheap and get something working" guy, whereas he's more along the lines of "VC funding or bust", without even having much of a prototype. That just sounds bad to me. Though I recognize that f…
I know several first time entrepreneurs from several years ago that "tested" waters in initial stages trying to raise VC money. And it's damn hard! So unless this guy has some inside connections and has been there, done that--I'd personally say it is not only a bad idea but potentially a huge waste of time--same thought I'm sure you must be having. If you can get going without any funding(which it appears you can) ST…
The question that has to be asked is "why does he want to raise the VC money?" Unless you need big money up front to build this thing (and you don't seem to think that's the case), I get the feeling that he desperately wants to be seen as an entrepreneur.
Entrepreneurs market the hell out of their product, but "Wantrepreneurs" just market the hell out of themselves.
Or to put it another way, is he in love with the product, or in love with the idea that he's an entrepreneur?
Re: Cofounders - how high a bar?
#20Earlier quoted context omitted.
I know several first time entrepreneurs from several years ago that "tested" waters in initial stages trying to raise VC money. And it's damn hard! So unless this guy has some inside connections and has been there, done that--I'd personally say it is not only a bad idea but potentially a huge waste of time--same thought I'm sure you must be having. If you can get going without any funding(which it appears you can) ST…
+1 best post ever. Loaners want to be repaid with interest. They want to know how you expect to repay them. And the repayment has to come with customer money, obviously, not more loans. VC's "loan" money as well, but they want you to make them ten times as much money as they are investing; never mind a few percent interest. They also want to control your company. His idea of "if nobody is going to fund my future idea…
If you accept the first one, it raises the bar for how much of the other two you need to acquire.