Have a product that users / customer are using and continue to use. The goal is to derisk the opportunity for investors and the biggest risk is that you'll build something that nobody wants. Once you have that, then try and find a big enough market and opportunity that justifies a venture inves...
The answer depends primarily on two factors: 1) Do you have outside investors? 2) Do you have and/or could you obtain a legal release from the co-founder, and after this release, would the co-founder have less than 5% of the company? If you have outside investors in the existing corp and you wi...
An increasingly popular ideology among startups is to create strong partnerships with outsourced assets. I have recently done a lot of work in the speaking industry and they outsource everything basically running a virtual office. In short, my answer is yes, know what you do well and find othe...
This is personal opinion, more than an answer. You really needed to decide all this when you first set up the company. You needed to discuss with your partner how much money he was bringing to the table, and if not money the value of his contribution to the company. In the end CEO, COO, CT...
First to your question. No, unless there is a law in place, nothing is mandatory. That said, not liking your industry will make it more difficult to succeed. Those who love what they do will work harder and longer to achieve success. But success means different things to different people. Do yo...
There is a risk. At some point, you have to trust that the people you surround yourself with will not take your IP to a competitor. I doubt you will blindly add folks to your team without establishing a relationship with them first. This relationship is the basis upon which the trust is built. ...
First, congrats on getting to MVP stage! Second, since you have a minimum viable product - what you need at the moment isn't investors or cofounders - it's users! I'll strongly urge you to spend your time getting your product in front of your target users, and gathering feedback diligently. ...
Unless you have a need to show a substantial equity, usually starting the corporation (assuming that's the type of entity you want) with $1,000 is ok. Then the remainder ($49k in this case) is entered as a loan. That way, once you have the cash back in the business account, you're not worried a...
Assuming, that you're able to effectively communicate to others why your project is a 'tremendous opportunity', then here are some options: - Look up local universities and email the chairperson of whichever programs relate to the type of cofounder you need (i.e. electrical engineering, marketi...
Hell no. I've been in the startup world since 1995, and no one has ever asked me for such a thing.