equity
I used to navigate through CoFoundersLab searching for partners to join me on some ideas of mine. Usually, when we do something like this, we look for complementary skills - if I am a programmer, I’ll look for a business developer or designer, for example. But we know that it is quite hard to determine a person’s capability (specially over internet, as CFL has people from all over the world). What can I do to assure that I am getting a person who is trully capable of doing what he/she says is capable of, and how can I protect the startup against a person who finds out not being a good fit for the company, taking in consideration that the person will usually get some participation on the company? I don’t want to give away a share of the idea for a person who participated on it for only a short period of time before being removed.
This has a lot of possible methods. Of course different positions have different capabilities and some are easier to test than others. A quick run-down of some testing/determination methods:
However good your testing/determination metrics are you won’t always be right (if you do it enough times anyways) and you’ll have to accept that as a cost of doing business. Basically consider it first as though you were hiring an employee to do that task; if you would hire them then consider whether they have that extra - extra responsibility, reliability, go-getter, good communication, willingness to work hard through rough patches etc.
In my opinion, the key to predicting the future is to make the past and present as relevant and realistic as possible. Possible was to do this in my experience are:
All content is licensed under CC BY-SA 3.0.