I'm new here and am wondering if this site is mostly just socializing, or if it actually works for finding business partners?
I seem to fit in with the way they present it. I mean, I am a sales/marketing guy with the right influencer contacts to launch a software product and know what I want built and even have part of it built already. But it seems the good devs are in such high demand, I can't even lure them away from their current work with a can't-miss multi-million first year opportunity.
Are there any success stories here? Has anyone like me actually found a good software dev for a 50% cofounder partnership? Or is there a better platform out there where I can find devs?
David, I agree 100% with what you said. A well executed agreement in advance is definitely what should be done. But at least with the few engineers I've spoken and compared notes with, they've devoted (for example) a year of their life working this as a side job while the other people waited patiently on the sidelines. Then, when the product was finished, the rest of the team would work maybe a month, realize that the product was not going to sell, and then they move on to the next idea. They lose one month, the engineer loses 1 year. This is literally what three engineers told me recently over a drink. For these engineers, they commented that if they ever do it again, they'll have to do it as a "Slicing Pie" type of agreement, where their ownership is based on the amount of work invested. I'm not saying it's impossible to find engineers, just be aware that many have been burned in the past.
Edgar, you make a good point. But I also have to call you out on the fact that if a software developer is getting "screwed" its because he didn't execute a proper contract. Now, granted just because most developers lack the competence on how to go into a start up and have a proper contract in place, does not warrant them being taken advantage of. I actually left working with a CEO as an advisor because of how he treated his engineers. The engineers started supporting me more than the CEO. The CEO's ego came into play as did his insecurity. But the reality is I was looking out for the engineers. Now, do they have the "Biggest" work load? That is debatable from start up to startup, and ultimately the CEO is usually the one taking the biggest risks not the engineers. It should all be a fair exchange of value, and you are absolutely correct too many foolish and selfish startup "CEO's" out there. They are fools, they play entrepreneur, and they are greedy and give entrepreneurship a bad name.
Is very hard to find a good dev or a good team. Usually, you can find if the dev fit your needs or is good enough for your project, after you did some work with that person/team or you know it from some positive recommendations.
But first you need to know what means a good team for you and how can you keep it good by the end. I will make an example:
A good team will (just examples here):
- have a good communication
- make proposals with more solutions
- deliver quality code
- deliver a project that is functional and tested, etc
To keep a good team on your side (is like in the friendship when is easy to make a good friend but you can also easy lost him) you need to know also the team's wishes in time (also just examples):
- maybe after one year the budget for the team must increase
- the team is dynamic or not, how to keep it stable - dev or team have also needs
The idea is that we are all humans after those computers and to have a good long and stable business relation we still need to think that we work with humans at the end and not only with machines.
This is how on my side work all the time and our teams (we have 2) works on stable projects. And it wasn't easy for us also to get the "good" partner or the "good" client but only with a lot of tries, at the end that word "good" is defined by each one of us.
I’m a developer on this site so I’ll try to help answer this question.
1) Most ”pitches” are terrible. They lack any sort of plan or acquisition strategy. It’s mostly “I have a great idea for ____! Can you build this entire platform and see how it goes?”
Which to other comments, that’s a year plus gone for just a hope of a return.
Its VERY rare to get pitched anything I personally believe has a high chance of getting acquired any time soon.
I’d say MOST pitches I get have no active users, no MVP designs, lack industry professional, no executive team, no funding, etc..
Just an idea. “Oh what if!?” Bar talk.
and unfortunately this keeps me from hearing out a lot of offers.
2) Developers salaries are already pretty high. If I’m making $150k+ at my day job, why would I chance it for a equity contract?
Present value of the sellout amount will have to account for the opportunity costs of the money I could make by freelancing and just passive investing the amount.
If I’m making $50k extra a year, at a 7-10% return over 5 years, does the project acquisition beat that amount? And not only beat it, but justify taking the risk.
And as I said above, it’s very unlikely most project will cash out for $1M+
That said, dev are here and looking. I just learned my lesson not to join any “ideas” without a solid user base and tons of testing behind it. Basically an already sold product before it’s even built, I’d be happy to build that.
Well I thought I found a good guy but after creating a rough alpha version he seems to be abandoning the project and not returning my emails.
Yes, A member found me .
We working for a year we have fund and also everyday customer increasing . But this all happen some rule is that we never break our commit and we give low expectation and high efficiency . Now we are like a brother because our thought are common . We believe each other very much .
I just support him without any agreement because i work with low expectation . For me trust should be base of every relation including bussiness relation ..
Sorry for my bad english
I wish you find good partner
I have run into the same thing but the other way around. Developer who can't find sales/marketing. I have completled product ready to sell and can't find anyone. Might be everyone here has their own ideas.
I've found that many developers hide from so called "entrepreneurs" because they've been screwed way too many times. In other words, they are promised the world, but at the end of the day they are the ones who carry the biggest work load. So, if you find a dev anywhere, make sure you really make it worth their while. Good luck!
Are you looking for a partner or are you fine to outsource to another firm?
As rightly pointed out before, the developers tend to have a lot of workload. Thus, would be better to be very clear on your ask and then share it to a freelancer.
If you're considering a partner, then more than developing s/he should be taking strategic calls on whether the development is really required and assess how ready firms are for it. Should also be able to develop a team. Now of course initially this partner will have to go through literally developing workflows etc and coding it, but be rest assured work will have to be placed to ensure there's no burnout as well as your requirements and deadlines are met.
To answer the question, I am looking for a 50% business partner and not a team. I just want want one guy who is available for a fun project in a voracious market for software, where I am already well positioned. Sales won't be a problem at all and I have complete software specs including the UI already designed on Figma.
But it certainly is difficult finding the right guy. I guess I can understand that being "available" is an issue for good programmers. But I haven't been having luck with people trying to fit my project in as a side gig.