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by teachef 5098 days ago
I've been told by a lot of people in my most recent round of fundraising that a successful start is comprised of: 50% Market, 45% Team, 5% Concept

So, you need to find a Market and Concept. There are a lot of people with great ideas that need teams for execution. I have a series of ongoing projects that I could plug-and-play a good team into.

Questions include: 1. How do you find the people with the great ideas? 2. How do you structure the deal? You have taken funding already and are beholden to your existing stakeholders?

My answers: 1. Finding Ideas: Hacker News is a good start. Also, you can act as a contractor-service company and see which projects may be good long-term fits for you. Try finding these online (odesk/elance) or offline (Berlin has a burgeoning tech scene looking for CTOs). 2. Corporate Structure: You need to be very communicative with your existing stakeholders. Being proactive is essential in your pivot. Then, be realistic when it comes to the deal: Start with milestones are are achievable, and move your stake up through performance.

Time is of the essence! You want to keep your momentum moving forward.