Android App Development · Finding cofounders

How best to approach a co-founder?

Juno DSCVR Company Director - Environmental Consulting; Head of Development - Energy Development Company

Last updated on February 8th, 2021

Hi guys,


I am looking for some tips on how best to approach a technical co-founder as I am new to cofounders lab.


I would like to connect with a developer who is willing to work on an equity basis on a mobile app idea which I hope to go viral. They would need to be able to develop an app to be published on iOs and Android as well as having the tech swag of Musk or Jobs, as I do hope (I know) this app will be hugely popular.


In addition to a fully conceptualised idea , I also bring to the table a one person connection to an Influencer who has <5 million subscribers on YouTube. My idea is to offer equity to this person equity in exchange for plugging on the app.


I have huge ambitions for the app. The AdMob revenue it's self will be quite significant but my aim is for a VC to become interested in investing or an acquisition.


I have been developing this in the evenings and it would be fine if they wanted to do the same thing.


Look forward to hearing from you!


(Just looking for tips, definitely not soliciting lol)

ps. opportunity knocks!






Adamfsk

Last updated on February 12th, 2021

As a tech person, I read your message as follows:


I have an idea, and I want someone to spend hundreds of hours to make it for me for free in the unlikely hope that it will be profitable.


I don’t have a business plan and I haven’t done any market research, testing or even got the screens and functionality mapped out in wireframing software. I haven’t thought about getting a graphic designer for the app either.


The only difference between me and any other idea guy is that I have a connection with a YouTuber with a lot of subscribers, with an audience that may, but (since I haven’t done the research) probably isn’t related to the target market for my app idea, but they’ll be getting a slice of the equity from the results of all your hard work too, even if their plugs are ineffective in creating the necessary momentum. I haven’t even confirmed if they would do it let alone how much equity I would need to give them yet, so I can’t be sure what I could offer you either.


Other than that, I don’t have any relevant skills, market knowledge or business expertise that may be useful in making this idea a success, but I (completely unsubstantiatedly) know it will be!


————————

Please accept my apologies if you took any offense from this. It is intentionally exaggerated to illustrate the cynicism you may see from the audience you are trying to reach, and also to highlight some of the various things you haven’t mentioned. If you were to read your own pitch even slightly like this, would you be interested?


You need to explain what your value is to the business and show that you’ve actually thought about how to make this idea into a business. Just having a “fully conceptualised idea” is on its own as worthless as the paper it’s written on.


Try to show with your words that you’re more than just a guy with an idea, and why you would make a good business partner. Show that you’ve done your research, know your target market in depth and have committed a considerable amount of your time into this.

Andy Freeman Product Management and ... - Looking for new opportunities

February 8th, 2021

Summary: good tech people get better offers every week, so you will probably have to up your game considerably. Also, you come across as very naive.


You might get lucky but ....


> tech swag of Musk or Jobs


Jobs had no "tech swag". Musk's success has very little to do with "tech swag".


> In addition to a fully conceptualised idea


What evidence do you have that anyone else cares about your idea?


Moreover, even if you have evidence, it's unlikely that said idea will actually fly. I write that because pretty much every popular app changed considerably from when the folks involved first had evidence that they were onto something to when it went big.


> I also bring to the table a one person connection to an Influencer who has <5 million subscribers on YouTube. My idea is to offer equity to this person equity in exchange for plugging on the app.


Pretty much every popular influencer has a manager who actually arranges the deals. As a result, they're actually easy to reach. The problem is getting them to sign up. Did your "one person connection" tell you what that actually takes? (They get cash and equity offers every day. Why should they take your equity offer?)

Juno DSCVR Company Director - Environmental Consulting; Head of Development - Energy Development Company

February 8th, 2021

Hi Andy,


Thank you for your comment and advice.


I completely agree and I do apologise for the slightly arrogant and naive tone of my post. I wrote it off the cuff last night whilst feeling particularly enthused.


Wrt to the Musk and Jobs comment - you're right. I think it was a bad way of saying I'm looking for someone with self belief and competence with a unique entrepreneurial spirit. Vague but it may resonate with the right person.


I am confident that the influencer would take my equity offer for a number of reasons. Firstly, the potential earnings from equity are far greater than their price for say a 3 ad campaign. Secondly, I have no doubt they would actually do it for free as a favour to the mutual connection, but I am happy to offer them equity as they would be good addition to the team.


I have had a go myself at blocking the app on a no-code platform however I don't have the technical skills to get it to publishing stage! I don't think it would take long for a developer with the right mob dev skills to create an MVP connected to Firebase based on my experience!


Thanks again, Andy. I do appreciate that this does sound like an idea's man gone crazy, and my approach has not been overly professional.


I'll be sure to keep this thread posted on the developments if it get's any followers.


Kindest regards,