I sometimes see folks at a Bootstrapper Breakfasts® make brief presentations where they are looking for co-founders but say that they are in “stealth mode” or are otherwise unwilling to describe any specifics of what they are working on. For the most part they get no response: neither direct interest from people at the table nor offers to connect them with someone who might be a fit. If you are looking for a co-founder you should at least be able to talk in detail about the problem you want to tackle and your background and why it’s helpful for solving the problem if you want to energize people enough to contact you.
Even if your firm is in “stealth mode” you should disclose your bio and background since that’s the first thing you are going to ask someone who contacts you. If you are a business oriented entrepreneur looking for a technical co-founder(s) to work for equity you need to pass three tests almost immediately:
- Is this a problem I want to work on, will it impact people’s lives
- Who will be on the team with me, what are their prior accomplishments
- If it’s business people: what traction have they already demonstrated on this project? How do I know that they can sell what I develop.
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