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Ask HN: How to overcome the fear of doing more than your co-founder?

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Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#61

Post by jason_tko »

chiBT wrote: post #60
jason_tko wrote: post #58

Earlier quoted context omitted.

Again, I think you're mischaracterising me a little bit. I can't code. I'm not a technical co-founder. My first business was not a software business, it was an IT infrastructure business. In my first business, I discovered a need in the Japanese market for a good invoicing/document management software. It came about through me building a crappy invoice management system, and showing it to other Japanese business owne…

Jason sounds like you have been where I am now. When you found your co-founders, after all that work, how did you split the equity? I'm a business founder looking for co-founders and I want to be fair but fair to myself as well.

We ended up roughly splitting the equity. I think what I did in finding and validating the market was table stakes.

I could have made a strong argument for more equity, but when it comes to actually building the product, there is still a tremendous amount of risk, and if you want someone to be as dedicated to it as you are, I would generally advise being generous with equity.

Naturally, as things move forward, it makes sense to revise the equity if the situation drastically changes, such as you committing full-time, and them not being able to, or interested to, etc.

At the end of the day though, equity discussions are more of an art than a science, and everyone needs to feel happy and looked after - including, of course, yourself.

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#62

Post by chiBT »

jason_tko wrote: post #61
chiBT wrote: post #60

Earlier quoted context omitted.

Jason sounds like you have been where I am now. When you found your co-founders, after all that work, how did you split the equity? I'm a business founder looking for co-founders and I want to be fair but fair to myself as well.

We ended up roughly splitting the equity. I think what I did in finding and validating the market was table stakes. I could have made a strong argument for more equity, but when it comes to actually building the product, there is still a tremendous amount of risk, and if you want someone to be as dedicated to it as you are, I would generally advise being generous with equity. Naturally, as things move forward, it mak…

That makes sense and is somewhat my situation. I want the right people and think I might have them but they can not become full time without being paid and I'm all in already. I'm paying for the first mvp to be built over seen by the possible cto. I want them happy but how can someone part time end up with as much as someone full time and with money in? And "generous" is so subjective, give me a ballpark for generous cause that's where I want to be. But it has taken years of work and cost to develop things down to a business,and we know there will be other equity shares given out, and neither of us has said where that will come from. I see how this is a very common challenge.

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#63

Post by chiBT »

jason_tko wrote: post #61
chiBT wrote: post #60

Earlier quoted context omitted.

Jason sounds like you have been where I am now. When you found your co-founders, after all that work, how did you split the equity? I'm a business founder looking for co-founders and I want to be fair but fair to myself as well.

We ended up roughly splitting the equity. I think what I did in finding and validating the market was table stakes. I could have made a strong argument for more equity, but when it comes to actually building the product, there is still a tremendous amount of risk, and if you want someone to be as dedicated to it as you are, I would generally advise being generous with equity. Naturally, as things move forward, it mak…

Another issue for me is there are 2 other people wanting equity. If they got their initial request it would give them 2/3 of the company's voting stock. Kind of a problem to me and it concerns me they would want that position after knowing me only a couple of months. They knew each other before I met either of them.

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#64

Post by jason_tko »

jason_tko wrote: post #61
chiBT wrote: post #60

Earlier quoted context omitted.

Jason sounds like you have been where I am now. When you found your co-founders, after all that work, how did you split the equity? I'm a business founder looking for co-founders and I want to be fair but fair to myself as well.

We ended up roughly splitting the equity. I think what I did in finding and validating the market was table stakes. I could have made a strong argument for more equity, but when it comes to actually building the product, there is still a tremendous amount of risk, and if you want someone to be as dedicated to it as you are, I would generally advise being generous with equity. Naturally, as things move forward, it mak…

Seems like I can't reply to your message, maybe we've hit the limit of tree replies.

That's a hard one... and it's hard to offer advice because it's very situation specific. I might be able to help, or at least act as a sounding board if you want to hop on Skype and have a chat. My email address is in my profile!

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#65

Post by chiBT »

jason_tko wrote: post #64
jason_tko wrote: post #61

Earlier quoted context omitted.

We ended up roughly splitting the equity. I think what I did in finding and validating the market was table stakes. I could have made a strong argument for more equity, but when it comes to actually building the product, there is still a tremendous amount of risk, and if you want someone to be as dedicated to it as you are, I would generally advise being generous with equity. Naturally, as things move forward, it mak…

Seems like I can't reply to your message, maybe we've hit the limit of tree replies. That's a hard one... and it's hard to offer advice because it's very situation specific. I might be able to help, or at least act as a sounding board if you want to hop on Skype and have a chat. My email address is in my profile!

I need a sounding hoard for sure but there are 3 profiles on Skype under your log in?

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#66

Post by chiBT »

chiBT wrote: post #65
jason_tko wrote: post #64

Earlier quoted context omitted.

Seems like I can't reply to your message, maybe we've hit the limit of tree replies. That's a hard one... and it's hard to offer advice because it's very situation specific. I might be able to help, or at least act as a sounding board if you want to hop on Skype and have a chat. My email address is in my profile!

I need a sounding hoard for sure but there are 3 profiles on Skype under your log in?

Think I sent you a message on Skype.

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#67

Post by chiBT »

jason_tko wrote: post #61
chiBT wrote: post #60

Earlier quoted context omitted.

Jason sounds like you have been where I am now. When you found your co-founders, after all that work, how did you split the equity? I'm a business founder looking for co-founders and I want to be fair but fair to myself as well.

We ended up roughly splitting the equity. I think what I did in finding and validating the market was table stakes. I could have made a strong argument for more equity, but when it comes to actually building the product, there is still a tremendous amount of risk, and if you want someone to be as dedicated to it as you are, I would generally advise being generous with equity. Naturally, as things move forward, it mak…

Are you able to reply?

Re: Ask HN: How to overcome the fear of doing more than your co-founder?

#68

Post by danelectro »

knighthacker wrote: post #32

1. The way I think about it is that you have a goal/vision for why you start the project. Having a co-founder is very important and necessary to achieve this goal because your business will run into a number of roadblocks that you need a partner to help you go through it. However, whether or not your co-founder works as hard as you is really irrelevant. You said that you are doing well financially and aren't starting…

I like what knighthacker says too.

I have thought for a long time that a good choice for a 50/50 business arrangement is where both parties feel perfectly comfortable each doing 60% of the actual needed work indefinitely.

With the right pair, the trust, confidence, and respect for each other is there, regardless of lopsided contributions from time to time (not forever).

If each is always focused on doing more than 50%, actually each FEELING like they are always doing more than 50%, and feeling good about it, even though that would be in excess of their compensation by definition, this eliminates some of the biggest doubts you have suffered from.

Plus on those occasions where more than a nominal 100% needs to be accomplished, you will not only be capable and prepared, but it will not even be a stretch.

As others have said, this emphasizes how carefully you need to align with your partner.

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