Questions

Hi do i need cofounder or management team to develop a idea?

I am working on a idea and couldn't find co founder and team and most of the work is being done through freelancers and currently i am paying from my savings. Do i need my own management team to get investments? I tried to find co founder but none align with my vision. what should i do?

5answers

Finding a cofounder is tough, especially at early stage.

I think the way your are approaching it make sense and I followed a similar path.

Once you have developed an MVP you will have more to show both to potential cofounders, employees and investors.

This will also allow you to raise some seed funding to alleviate the financial burden f just you financing your company.

Until then it is hard for people to commit if there isn't anything tangible enough because of risk perceived.

Follow your vision and create a story and basic MVP to share, seek feedback to validate and then convince people to join your adventure, if it's an exciting one they will join.

Good luck!


Answered 15 days ago

Always observe the optics of what denied your idea, it is possible that your vision is a little out of the standards of your business, it is a little flexible in relation to what is said about your business, it is possible that this will help you to have more ideas in in relation to what is done in your business, if you want a more complete and open opinion, explain me better about your business.


Answered 15 days ago

It is very disheartening to hear that nobody stood to support you, but you must also keep this in mind that when we invest our energy in doing what makes our heartbeat, then we become happier. Our motivation, energy, inspiration, and performance thereby alter, and so, by the natural order of things, we become more successful. Maybe this is what is not happening with your idea and that is the reason why people are not attracted to your vision, try mending your idea.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 15 days ago

I think you are already setting yourself up for success because you are:
1.) having a vision
2.) are not willing to compromise for your vision by allowing anything or anyone less

Very few people are willing to do that as they are only in it for the money and would just take people on or anything for that matter if it is what an investor wants.

Let's not kid ourselves. Just because you have a vision and very possibly a very good one, it does not mean everyone is just going . Keep on talking to people until you find the right one, as at some point you cannot do it all alone.

Also treat investors the same as potential co-founders and partners. See if they align with your vision. Again of course it is hard to say no to money. But I know some founders, who lost all their joy, due to being pushed to decisions that did not align with their vision, even would hurt the company in the long run, just for short term profits.

So when investors ask you about your lack of other team members, tell your story (looking but not compromising & doing all on your own from your own money). That demonstrates enormous confidence in your vision/idea.

Good luck and if you need any help let us talk

https://clarity.fm/gerdtf

Cheers

Gerd Tittel-Feller


Answered 10 days ago

In short, absolutely not! While you may read that "finding a co-founder" is a necessary idea out on the web, this is one of the greatest fallacies of what it takes to build a successful startup from the ground up, and bring your Idea to market.

In most cases, if you didn't start with one, you will find it very difficult to find a co-founder who truly shares your Vision, and your passion, for The Idea as fully as they need to...after the fact, you will only find this frustrating and it'll cost you potentially 50% of your equity to boot.

In our work with startups of all shapes and sizes (and their founders) for nearly 20 years, those that I've seen with two partners (co-founders) are also the ones most likely to implode, whether its over money (and who's carrying the financial load), expenditures, how to move forward, disagreements on the Vision for the long-haul, and divided passions. It will also impede your decision-making ability too, especially when this is your Vision you're pursuing...you need to remain in control of that, otherwise it can get diluted rapidly.

As others have said too, you do not need a management team to secure investment capital for a startup beyond your own. Any "smart money" investor realizes the challenges of building a successful startup / new business, and many early stage startups gain funding in part due to having a lean team, a great idea, great execution so far (this is CRITICAL by the way), and a clean cap table too.

So don't be discouraged at all, and carry on as you are, without troubling yourself with these kind of "golf thoughts", it'll only negatively impact your proverbial swing :-)

What you're doing now takes the right timing, the right idea, and enough (usually internal capital) to get to market and find some initial customer traction to prove that your idea has wings.

Then, the rest can take care of itself as you move forward in your journey. Onward and upward!


Answered 9 days ago

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