Success story: How Cureeo co-founder Maida met her CTO Abid on Founder2be
Maida is the CEO of Cureeo.com, a platform that makes it easy to buy affordable, collectible art. She went through many other sources (meetups, intros, etc.) before she signed up at Founder2be where she met Abid, her CTO. Cureeo was a participating member in TechStars Chicago 2012 class. She is an MBA candidate at the University of Chicago’s Booth School of Business and worked in Angel Investing and Venture Capital during her time at Booth.
She likes the very engaged community on Founder2be and received a lot of inquiries. She was very active herself while searching for a co-founder. Having succeeded in finding her CTO, these are her recommendations for how you can find a co-founder with Founder2be, too:
For many, finding a team can be one of the first big challenges you overcome as an entrepreneur. And, if not handled well, the team can also cause the ultimate demise of an idea. I personally interviewed almost 30 people and had trials with four before I landed on Founder2be and met Abid, now the CTO of Cureeo. There were several learning points that I had along the way and I want to share them with you in hopes that you will be able to successfully navigate Founder2be and build your own founding team.
- A team is a must in today’s start-up world. It’s nearly impossible to get into an incubator without one. If you plan to raise money, VC’s wonder what’s wrong with you if you don’t have a team. They wonder if you’re hard to work with, if your business is a bad idea, or if you are too arrogant (meaning you have no idea what your weaknesses are let alone a team to compliment you, or worse, you have NO idea that you have weaknesses). If you don’t have a team, get out there, pitch your idea, meet potential partners and start working with people.
- Communicate your expectations and hopes with regards to your team, and then have a trial period. Trial periods are a very common practice among founding teams. Additionally, establish some joint goals for that time. Here are some suggestions to start you off: 1 – use that time to determine whether or not you work well together; 2 – use it to see if you still like the idea and still have passion for it after several months; 3 – use it to determine whether or not your idea has any merit.
- Trust your instinct. "Intuition is our unconscious response to external stimuli and messages. Our eyes and ears may not immediately recognize when something is off but our brains certainly do." Liespotting by Pamela Meyer. If you think something is not working out, it usually is not. When asked about what they regret, most entrepreneurs will say they waited too long to fire somebody and they wish they had done it sooner.
- Keep the legal simple. The most common things you need to consider are cliffs and vesting. A cliff is the amount of time under which no equity is awarded, and a chunk is given at the end of the cliff. Vesting is the amount of equity you give to your partner on a regular (usually monthly) basis after your cliff period.
Remember that when the going gets tough, people need to believe in the idea and enjoy working with you.
I wish you the best of luck!