6 ms·
Regarding equity, I was set on this being a bootstrapped business, so I offered 8% at 50h/week over 2 years, vested monthly (unconventional ik). And a few extra
by irisman 11mo ago
Regarding equity, I was set on this being a bootstrapped business, so I offered 8% at 50h/week over 2 years, vested monthly (unconventional ik). And a few extra % if they stayed 2 years (depends on how many remain). I didn't require full-time, and allowed 20h/week, and equity was proportional to time put in. My stake would was 16%.
I eventually hired 3 full time devs offshore after realizing almost no one has the risk appetite. $500/mo avg. 2 were duds who I removed after a month each, but the last one was great. Learned my hiring lessons.
Consulting would have been difficult because I spent day and night on the startup.
Letting people work 1/2 time on my project and consult the other is smart. I would just have to secure the clients. I will consider that in the future.
I gave people the option to work 20-50h/week, but no one took up that offer. The only people who joined were 5 people:
- 3 friends I knew from online and did projects with before.
- 1 person I met from reddit and also a unemployed 2024 grad (but she was still money hungry, left 2mo after while being only part-time).
- 1 person from YC combinator. Great guy and former founder, but he had to leave 3w in due to a lawsuit abroad.