Starting up with part-time co-founder?

Question

Would you consider starting up with part-time co-founder who still works full-time at another company and will only join when we close our first sale? B2B space, early-stage and pre-launch, so lots of work required till then. They can spend around 8-10 hours per week on the venture.What they bring is industry knowledge, but not irreplaceable.They have no financial obligation (to support family) so the refusal to deep dive full-time is more of risk aversion than financial necessity.

trilinearnz · Accepted Answer

I would not do it (been there done that).Consider this: some (most?) VCs are wary of investing in startups where the founders are not 100% committed (i.e. no other fulltime job). It's worth reflecting on why they would be hesitant about such arrangements, and why you would choose to think differently from your position.

mooreds · Answer

Sure.But.I would set some clear guidelines and deliverables. I wouldn't say "until first sale" but rather "for 4 months" or whatever timeframe you both think appropriate.I would also discuss vesting and equity percentages. (I would think you'd have a larger equity sharesince you are taking on more risk.) Always a good idea to set up the "divorce" papers before you start working together.And finally, I'd have good long discussion about why they want to be half in half out of a startup.

muzani · Answer

You have limited founder slots. Put them in an employee or consultant slot. You can still give them equity, but probably a low amount. Startups are full of risks, and there will be many more situations where deserters will cause harm.On the other hand, I have offered 50% share to people to do little. Sometimes you need an anchor to keep moving, but the part-time co-founder can be a poor anchor.