I have spent the last year developing some truly amazing tech, and creating a product I am thrilled to introduce to the world. I have gotten the invention to patent pending, I have won a few small grants for funding, the business has also been accepted into a couple of accelerator programs. I plan to have the final production prototype completed by February.
Though I am the one who has done everything so far, I would without a doubt consider my next 1-3 team members to be co-founders and I want people who see themselves as co-founders as well. Just to be clear here though, I’m not saying equal equity distribution. Simply saying they could call themselves a co-founder and be someone who was in the game since (almost) day 1. I am willing to give a generous equity share for the right people.
I am an engineer through and through and I have decided to begin searching for someone to take on the marketing and finance aspects of the business. I am also looking for another person to join me on the engineering side, as the product is extremely technical.
In my searching, I have found that I can come across 50 ideal candidates by poking around online forms and such, in the same time that it takes me to network my way into meeting one person who sorta gets me excited. Obviously these people tend to be in different states, and I have started to wonder about going for it anyway.
I realize the trust that will have to be built, and there will likely be some communication strain. At some point I would want us to be in the same location, but I think I could make it work for a year or two with consistent communication and occasional visits. At this point my train of thought is that “This may not have been a great idea in the past, but it’s 2017 and 90% of our communication is online anyway so it makes more sense to go for the right person than settle or wait around for the geographically convenient one”.
Do you have any thoughts/experience/suggestions on this?