The story of starting a business is always romantic. The deep gratitude and camaraderie shared among the early members of successful startups, especially cofounders, often evoke envy. These are the people who believed in each other and overcame challenges together from the very beginning when they had nothing. However, reality is far from romantic. Becoming a cofounder of a pre-startup team may simply be another way of getting your talent invested, nothing more.
A story that starts the same but ends differently
Consider this scenario: A developer is inspired by the visionary speech of a pre-startup founder and decides to join the team. As they continue working without pay, the gaps in their resume widen, and their bank balance dwindles. They persist, brushing aside anxiety with the belief that the business will eventually succeed. But reality is harsh. Meanwhile, the cofounder’s health rapidly deteriorates, and while the founder may express concern, they are unable to provide real help.
In the end, the developer may realize that the founder doesn’t see it as their responsibility to take care of the team. The founder’s primary goal is to keep the business afloat, not necessarily to support those who are working with them. Eventually, the developer may leave the team, realizing that the time and labor they invested were given freely without any return.
Is this a rare story?
Not every founder operates this way, of course. But there are indeed cases where the title of ‘cofounder’ is used to attract ‘free employees.’ If you are offered a cofounder position on a pre-startup team, it’s essential to carefully consider whether you can accept the situation if things go wrong.
So, what kind of pre-startup founder should you be?
To attract talent, it’s crucial to present reliable indicators and draft contracts that outline the benefits and security that can be provided in the future. While the idea of building a company alone may sound ideal, it’s more important to start with the belief that mutual trust is safer and stronger.
Conclusion
Bringing a cofounder into a pre-startup team requires careful consideration. It might be a talent in itself to secure investment solely based on your dreams and ideals, but this is not in the best interest of others. While you may not be able to work alone forever, it’s worth considering doing your best alone until you can officially establish a corporation, share equity, and provide a fair salary.
Can you grow the business on your own to a level where talented individuals would want to join after objectively evaluating your progress? This could be one of the most crucial aspects of starting and growing a business. It would be wise to take some time to think about it.