I'm an employee at a start-up. More passionate about the product by the day. I was hired to keep their leads warm it's not tough to do, the industry "leads" call me regularly asking, how much longer, can we see it now?
The co-founder/funder has delay fatigue and shows signs of moving his funding elsewhere. What can be done? The product is golden/the margins exceptional. I know it because I work everyday with their competitors and their eager potential clients. Suggestions?
Offer to buy him out. Entirely or in part. With cash, paper or some of each.
If he is getting ready to walk away... that means he is getting ready to throw it in the garbage bin.
It might be that you just need to buy a non-exclusive license to what has been developed so far.
What physical area are you in? whats your local market size? If there is a working product and good margins anything is fundable with the right investor. Your contract will be the issue, initially. I'd be interested in chatting more.
Great is the enemy of good. Is the product launchable? Nothing enthuses funding like adoption of a product that all know will be evolving.