I have a startup idea and an alpha version prototype. I'm starting to think about seed stage funding but first I really want to know how to go about building a solid team around my idea?
Building a team can be one of the most difficult elements of a early stage startup but here is my 2 cents in less then 2 minutes.
If you are the techie founder - finding a non-techie co-founder should be easier. I didn't say easy, just maybe a little easier. You can utilize this platform, LinkedIn, or your local meetup.com groups to find that other-half.
I would not be overly concerned about it for a few reasons. Frist, the hardest part about finding a co-founder / building a team is finding people passionate about your idea as much as you are. (This is the hardest part regardless of the techie comment above). Secondly, investors are seeing more and more solo founders this days. Thirdly, funding opportunities typically will help you build your team through the investors contacts hence the reason number 2 is becoming more accepted.
Thirdly, building teams without salaries is again another hard part because of the hype of entrepreneurship. If you picking up what I am laying down - it can be a long road to a lot of time and energy which should be applied to building a great product and validating that people want it.
With all this said, here is what I would recommend (side note: I am doing myself)
Before I consider applying to accelerator programs because of the time consumption and hopefully rejections. Before I would approach funding rounds and investors....
I would focus on your Business Canvas Roadmap and your MVP. Be sure to truly validate it even if this means you try selling it before it is a perfect product yourself..
at the end of the day, if you have stuck with your idea and validated it with even 1,2, 10, or 50 paying users that team you are looking for and the money you are looking for.... will indeed find you.
My 2 cents under 2 minutes
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Don't listen to these non-professional advice.
The easiest things to do for finding a team if your idea is good enough otherwise no team can make a sucks idea successful.
Here is how you can do it:
-Go to google and type coworker space for rent, coworker startup, lean startup at your local area.
- Go there and ask from the information desk about busiest day then book one day trail and rent a desk for one day (some of them even give you access for free for one day as a trail)
- Start talking about your idea with those people who working there and find out if they like your idea or they want to join your plan.
- If things are looks good then go for it otherwise accept the fact that your idea sucks and ask if you can join their startup and learn from them
There are several companies out there that specialize in being part of your startup team that work for equity (notes with warrants). They are usually entrepreneurs that have already gone from idea to exit. A ton of experience and full time, so hard to beat. However, they are much like the VC, they do not take anyone. I would argue if you can not convince them, then likely you should not invest your own time/money either.
After you gain traction, they will help you find permanent team members.
Can you please name a few such companies ?
@ Jagadesan. Finish Line PDS, JumpStart Resources are two that I know of. Send me an email and I can connect you with them.
thanks Travis and Steve for your very insightful response. this is definitely a challenge for me giving that my startup has not raised any significant funding yet. As such your responses are highly valuable.
May I please know your email address ?
@Steve Owens, Can I email you?