Finding and selecting co-foundersFeatured

DianePrince's profile thumbnail
Great article @alinabutina! I especially agree with the Ambition/long-term goals - knowing what each person wants to get out of the experience from the company is my #1 filter in selecting a co-founder. Good read -- I enjoyed it.
alinabutina's profile thumbnail
Thank you @DianePrince! I appreciate your feedback so much!
HannahDrain's profile thumbnail
This is fantastic! We also like to recommend not getting into long-term business relationships with someone until you've known them for about a year. Usually, within 12-months, you can witness someone go through a high moment and a low moment and see how they respond - if how they respond is something you respect, appreciate, etc., then it increases the likelihood that the relationship will workout in the longer-term.
alinabutina's profile thumbnail
Thank you @HannahDrain! I agree with you 100%!
nipukabadi's profile thumbnail
Great insights and information @alinabutina. Thank you. I am on the lookout for a cofounder and found the article very helpful.
alinabutina's profile thumbnail
This makes me very happy, thank you @nipukabadi!
jodiweitz's profile thumbnail
Thanks so much, @alinabutina. I have a co-founder who wants me to join a start-up and pay with only stock-options with a vested schedule, as the products may not bring in any revenue for 3-5 years. Is there a hybrid payment option of a percentage stock options/salary that you're familiar with? Is there any information that you can suggest about co-founder remuneration? I want to limit my risk as much as possible while still paying the bills. And, at this point, there is no funding.
alinabutina's profile thumbnail
My pleasure @jodiweitz! Like any other business, there are always risks involved. You will not be able to purchase shares before year one while your equity is on a four-year vesting schedule - which means that it could take an additional three years to fully realize these benefits if things don't go as planned.If you're thinking about taking a job with an equity or salary trade-off, here are few questions to ask yourself:1. How much time am I willing to invest? 2. Do I think this "boat (startup)" will sink or not? 3. Is the alternative compensation package comparable in value (time*expertise vs current financial situation)? When it comes down to it, you'll need to make a well-researched decision when choosing between additional remuneration and equity for your new startup job know what can actually afford whether this is going to last at least a couple of years if any - as well as whether the trade-off offer from employer offers comparably valuable incentive. Also, maybe these articles can help:https://carta.com/blog/value-equity-offer-startup-equity-calculator/https://www.ycombinator.com/library/5x-how-to-split-equity-among-co-foundersGood luck!
jodiweitz's profile thumbnail
Many thanks for your insights and great information, @alinabutina! This will be so very helpful in negotiations as a potential co-founder!
AnnaLindbergCedar's profile thumbnail
Curious: What platforms do folks use to find co-founders? I'm asking for a male friend who is searching now and (obviously :) is not on Elpha.
katherinebernstein's profile thumbnail
You can also try YC's co-founder matching tool, which just launched publicly a few weeks ago! :) https://www.startupschool.org/cofounder-matching
AnnaLindbergCedar's profile thumbnail
thank you so much!
alinabutina's profile thumbnail
AnnaLindbergCedar's profile thumbnail
thank you! thank you!
LaniAssaf's profile thumbnail
Hi @AnnaLindbergCedar - we actually put together a resource on this here! Lots of ideas along with what has worked for other Elphas! :) https://elpha.com/resources/meeting-cofounders-what-to-look-for-and-the-10-best-places-to-find-them
AnnaLindbergCedar's profile thumbnail
This is awesome, thanks!
DigitalWoman's profile thumbnail
Really well articulated @alinabutina! That is exactly the advice I share with the entrepreneurs that I work with. If it's OK, I will share some of your examples with them.
alinabutina's profile thumbnail
Thank you so much @DigitalWoman! Yes, please it would be an honor!