I'm on the 'founder' side of this. I'm a lone founder and would dearly love to bring in a 'co-founder' or employee to work with.[1] The problem is that i have worked for a long time, progressed a lot, and have a strong vision of what i want to end up with[2], there is no way on this earth i would give up 50% of that to someone because they were a great programmer/EE (and i don't know anyone personally who i feel would be able to add significant value, or i would have brought them in earlier). I also have the vision of what the business could become, far beyond the first product, so i value it a lot higher than any outsider would[3].
So what choice does that leave me? I can't imagine anyone willing to work 1-on-1 for a significantly minor steak. Opinions here consistently make it clear that a small stake is considered almost worthless[4].. so it seems to me the only option is struggle on alone, and eventually give a salary[5] by whatever means possible, perhaps preceded by an intern if i find someone interested. What does HN think?
1. there is a reason 'co-founder' almost supersedes the word founder around here.. working on a big project on your own is an absolute bitch.
2. working on a product, with HW and SW components, not 'just a website'.
3. which is also why i haven't sought any investment yet.
4. you may be thinking '99% of startups fail', but i am thinking 'i know i will suceed'.
5. i need a competent programmer to free up my time for other things and bounce ideas off, not a 'superstar'
The risk that you are taking is that you will end up with 100% of nothing. If you are already in 'struggle on' mode I would re-evaluate the plan to achieve the goal. This comment also assumes that you don't have cash to bring to the table otherwise you would have hired someone already.
It really sounds like you need some help so either you need to offer sufficient equity (less than 50% as you have already come a long way although probably more than 20% [over time] unless you are already near launch) to a co-founder OR seek investment which would enable you to hire a contractor. Either way you would need to convince someone of your concept (investor or co-founder) and your personal value to the business. If hardware is required you will need investment at some stage.
Kickstarter may also be an option for you if the project is likely to be sufficiently popular but you really need to work out what you are promising first and be prepared to make it public.
So what choice does that leave me? I can't imagine anyone willing to work 1-on-1 for a significantly minor steak. Opinions here consistently make it clear that a small stake is considered almost worthless[4].. so it seems to me the only option is struggle on alone, and eventually give a salary[5] by whatever means possible, perhaps preceded by an intern if i find someone interested. What does HN think?
1. there is a reason 'co-founder' almost supersedes the word founder around here.. working on a big project on your own is an absolute bitch.
2. working on a product, with HW and SW components, not 'just a website'.
3. which is also why i haven't sought any investment yet.
4. you may be thinking '99% of startups fail', but i am thinking 'i know i will suceed'.
5. i need a competent programmer to free up my time for other things and bounce ideas off, not a 'superstar'