New Business

[Mark S]

Hi,

I'm in the process of getting my startup running and have been advised that adding a co-founder would help my business case when applying for proof of concept funds and 'seedcamp' style operations.

To this end, I believe that the type of founder that would be most useful is s senior developer highly skilled in PHP with great knowledge of jQuery and preferably backbone.js.

I am a developer myself, but admittedly am not as strong in this area as I would like to be (For the last few years i've focused on database type work).  I have made a start, have a framework in place, a lot of connectivity code, wireframes/spec for a lot of the work, graphics are done etc.

I'm currently working with DigitalCity Business on improving the Business Plan to attract funding, and am debating the merit of applying to the various seedcamps/incubators. 

What I need, initially,  is someone to help code, to pad out the alpha and make it more robust.  In the short term I the company cant pay, but id be happy talk about the money being paid upon investment or something similar.  I'm being quite tight with handing out shares, but would also consider handing out equity to the right person(s).

As soon as any investment comes in, then you can obviously start taking a wage.  I have been self-funding myself and will continue to do so into the first few months of any investment so you'd pretty much be the only one getting paid! lol.

The business itself will be quick to turn a profit, is in a growth market and the product can be moved to many other markets quickly.

I believe there is nothing out there that does everything that this site will do, and have spoken to a few potential clients in the industry who agree.

If you, or you know someone who would potentially be interested then drop me a line and we can have a chat.

Thanks,

Mark.

[ric...@towerwebdesign.co.uk]

Hi Mark.

I'm an experienced developer and also the director and 50% shareholder of a startup.

I don't want to sound too negative here but the problem is you don't tell us anything about your business, or whats in it for us.

You talk about the possibility of shares for the right person, but that rarely works because you can just issue more shares at any time and make our holding worthless, unless we get 50%

But if you want someone really good then you need to offer something tangible. 

You'd be amazed how many offers developers get - you need to sell yourself a bit more.

Good luck,

Richard

[oli wood]

Might be worth reposting this to the Super Mondays list or better yet the North East startups group on Facebook, especially for advice about shares and cofounders. Both are wide topics with numerous options (sic).

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[Robin Scott]

I agree, it is either/or. Either you pay salary, or you issue shares. You can't do neither. Most startups do both. If you need talent then you must value it.

Also this deal, and company should be structured by a lawyer. Probably you should create a prospectus for the deceloper (or dev team) you want to work for nothing on the hope of investment being achieved. You would be surprised how many "this is the best opportunity EVER!" Equity deals are offered. They basically under value development work, which in a lot of cases, is building the only IP that startup will have.

Ideas are worthless. Development work builds value.

Rob

On 20 Mar 2014 09:57, "Martin Bean" <mar...@martinbean.co.uk> wrote:

If you believe in your product and need a co-founder to actually build the product and take it forward, then surely you should be offering half of the company in lieu of being able to pay outright for a developer’s time?

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