2. Cofounders
“If don’t merry the right one, you will suffer
the whole life.”
Be careful with long-term commitments.
Have verbal agreements first, try it, then
execute it. Lawyers are expensive.
3. Equity considerations
• Equity is the most precious asset. Don’t give it away
easily. It should be earned, not given.
• Worst partnerships are 50% : 50%. Rarely should it
be split evenly, even though that’s what many start-
ups do.
• If you find the right partners, incentivize it. It is
better to own 70% of something than 100% of
nothing.
4. Equity considerations
• Don’t promise equity to part-time contributors
• Paying with equity might be more expensive than
cash
• Not everybody understands and appreciates equity
5. Hiring challenges
• Experienced professionals are working with “big
guys”
• You can’t pay well and you can’t offer any security
• Freelancers earn more than you do (and will)
• Specialists are bored to work for “a customer”
6.
7. What you can offer
• Sell your dream where are you taking them
• Give them status – it is cheap
• Pay low but benefit well
• Equity (it is earned, not given)
• Give them respect
• Show them how they can make impact on the
business
8. Hiring and firing
• You are chief hiring officer. But everybody should look for
talent
• Hire slowly, fire quickly
• You are always in search for talent mode. Keep records
• Do not hire someone nobody knows. You need references
from people you can trust
• Startup culture is different and requires different talent. You
are looking for passion and SMART people.
• You don’t need managers. You need contributors
9. Tools and resources
• Linkedin and Twitter
• Facebook groups
• Student associations
• Build relationships with universities. Have more than
25% of interns
• Check HZZ programs and incentives
