| Are you really good at everything you need to create a startup? If it's a web startup, I'd say the FIRST team you need is a designer and a few programmers. Nothing else. So, as a single founder, are you doing everything? Or are you using the "bones" you've made to hire employees? If you have employees, then you really aren't benefiting that much from being a "single" -- you have a team, they are just compensated and motivated in a different way. In my experience, a person who feels like a co-founder is a billion percent more motivated than an employee or consultant. Given this (and given that you need more than one skillset to build a good startup) why wouldn't you trade some equity to increase the motivation of your team? Surely this would raise your chances for success (which, as we all know, are generally pretty low!). Unless you are one of those mythical people who are good at everything, you are handicapping yourself. And it's a pretty well-researched fact that two smart people are more effective problem solvers together than one genius. But, at 48, that may be be necessary... As you say, who wants to partner with an old guy? grin For the record, I am a 35 year old guy who has also made his bones selling two startups (just about to launch #3). Every time (including this one) I have have made damn sure that I had co-founders that had EQUAL partnership (when I could have gotten away with giving them minority partnership each time). |