I have a friend whose personality is boardline AI when it comes to reading people and getting to know them. We will go to bars together and he can without fail get free drinks and make new friends.
He is currently working as a SE for a PenTesting company. Over beers one night I discussed with him my troubles of convincing VC investors. He told me if he got in there, he could easily get the funding because he has sat down with me enough to know my company inside-and-out.
So I am just curious, have you guys ever brought on a Co-Founder for the sole purpose of neogotating with series funding? I was thinking of bringing him in at a small equity amount and if he did actually get funding, I would then increase the amount to 50/50, or maybe base equity solely on if funding is received.
What are you thoughts? Thanks.
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This is sincerely a bad idea. Gauging from how reactively (and immaturely) you are thinking about your friend, I would wager that your business may also be a bad idea and that’s why investors don’t throw money at it.
The problem isn’t you lacking some “gift of gab” here; the problem is deeper and has to do with your business or you.
Besides a friendly and can-do attitude, what else does this person bring to the table that couldn’t be otherwise hired or paid for? Hopefully once the money comes in - what else is this person going to do to contribute to the business?
You don’t need a marriage for a one night stand. So choose your business partner (which is just like marriage) carefully (with until death do us apart in mind)
That’s a great point. I’m looking for a co-founder and maybe I assumed he could fill the gaps overtime but bring him on immediately because of the current situation. I think I will continue searching for someone else. Thanks for the input!