Where to best look for skilled developers who might want to get involved in a startup on an equity basis?

Question

Hi, assuming I have an idea for a pretty simple Web 2.0 startup that is likely to be fairly successful after say 12-18 months (during which it won't however make or cost much money, just hosting) because it fills a real void, where would I best be looking for talented developers who would possibly like to get involved in the startup on an equity/shareholder basis?

Also, what do you think is generally a good offer (equity-wise) to make in this context (given that currently there really isn't much except for a concept, that needs to be turned into a working prototype)?

Being absolutely fair and realistic about this is very important to me.

So, as potential developers who'd possibly embark on such a journey, what'd be your most pressing questions and issues/factors?

Thanks for your feedback

Answer 1

So, as potential developers who'd possibly embark on such a journey, what'd be your most pressing questions and issues/factors?

Speaking for myself my issues would be:

• The concept: I have to like what I work on! (however that would be probably hard for you to disclose before agreeing to work together).
• The workload: I need to know I can cope with the work hours the project will demand.
• The passion: How determined and passionate about the project the whole team would be.

In my opinion benefits and skills required are less important. Of course, you don't go looking for developers who just made their start with web application, but if someone say does not have deep knowledge of a framework for example, that is usually not a problem. And the benefits, well a long (sometimes short) conversation can short that out!

Answer 2

First you have to determine whether they'd want to get involved with you, equity-only startups were so 90s so you'd have to be prepared to offer quite a lot (ie equal shares for all 'founders', of which these developers would be part)

This is what you have to avoid doing.

The biggest problem you have is telling people what they'd be working on, too little info and they won't be enthused, too much they might go off and do it themselves. Other than that, I think the best place is other forums. Try Web Hosting forums, they usually have a section of developers looking for work - you'll be able to find a few good ones in the mix - or your local university message board. Unemployed students may be willing to go for it before they get lumbered with the usual mortgage and bills working people have to suffer.

Answer 3

where would I best be looking for talented developers who would possibly like to get involved

The best person would be someone you already know and trust. I'm not quite sure if you're trying to "recruit" people via Stackoverflow, if so, I'd advice against it.. Why? You don't really know how motivated that person would be, what they are good/bad at, and so on..

So, as potential developers who'd possibly embark on such a journey, what'd be your most pressing questions and issues/factors?

What the project is, why people would use it, how you intend to see the project to completion, how much work (time) would be involved, and more importantly who you are (and why your username is "Clueless Founder"!)

Answer 4

gbjbaanb touched on it -but I think the question you're really asking is how to find co-founders and partners.

Any developers you bring on at this early early stage are founders, and you will need to split equity equally. I would stick to people I knew or people who were recommended to me by people I knew.

Personally, I would only work with people that I had worked with before. Trust is a huge issue here, and it's not something you're going to be able to tease out very easily over a beer while pitching The Next Big Thing.

Answer 5

Good on you! Now get out of the house/office and go to some networking events. Serious entrepreneurs and would-be entrepreneurs go to these events, even the programmers. You can't start a business with someone via email or forums (there are examples that prove the rule, but the risks are huge).

Meet people, press the flesh. Some juicy leads are sure to be found anywhere the words "web 2.0", "mobile" or "iphone" are found. Also, use Linked In and contact people who have interesting profiles. Invite them to coffee meeting or a phone meeting.

I'm not sure of your location, but if you don't mind disclosing your city, you could ask the question "What entrepreneurial, online networking groups are there in [my city]?"

Cheers!