Starting a new technology company

StereoSound

I want to start a company with a like minded person who has an interest and drive to take the plunge and go into the unknown with me, two or three individuals with experience like myself. I have an IT background with some limited management experience and the business is going to be but not limited to windows and android development, possibly iPhone with a bit on security consultancy.

Where could I realistically go to source like minded people like myself who also want to start a company? It's not the type of business I can start exclusively on my own. I will be starting this business with about 10k of my own money and expect those who go into business with me to equally invest their own similar amounts of money. We would all have an equal share of the company.

Cheers

Walter2016

The usual place for those contacts are your school or college alumni or class mates - but depends on the school / college.

I'm involved with a school alumni and we'd be able to match people in such circumstances.

Ideally you want people who know you and understand how you operate. So its really who you network with and seeing if there's any people within that group or maybe they know someone.

StereoSound

Are there any gatherings around Dublin for Entrepreneurial minded people that I could attend?

Duckett

I suggest you subscribe to a number of newsletters that reference networking events - for example, The 4 Dublin Local Enterprise Offices, InterTrade Ireland, Plato Dublin, the NDRC, NOVA UCD .......... that should get you started. Also sign up for Enterprise Irelands weekly newsletter and look up "Meet Ups" and sign up for relevant events........Duckett

Axwell

StereoSound wrote: »

Are there any gatherings around Dublin for Entrepreneurial minded people that I could attend?

Check on meetup.com for local events and see if there are any that fit.

ironclaw

If I can give you any advice at all, I'd strongly vet anyone you go into business with and ensure you set the ground rules from the very beginning. I'd get a project or two under your belts and retrospect each one: What went well, what went badly etc. Are they are an employee, contractor or a business partner? Its a key but very subtle difference. Your ideas and definition of how to get things done could differ greatly e.g. You'll work all night to get a release out, they'll clock off at 5pm every day no matter what. Likewise, ensure you have broad skills in the team. You don't need three amazing devs, you need a great dev, a great UI/UX and a marketing person, even if the latter most is part time. I'm confident in my code abilities but for the life of me I can't make stuff 'look good' nor can I really sell in person. Its important you have a broad skill-base as it increases your 'in house' abilities greatly.

If they do go down the route of business partner, be sure to put a vesting agreement in place and cover all the nasty stuff in the clear e.g. If someone wants out, if you need to get someone out, dissolution etc. Its not pleasant but it needs to be discussed upfront and openly.

Lastly, don't go into business with your best mate or partner, its a recipe for disaster in my opinion. I work alongside a great friend but we are business partners first. Sure, we have it out now and again, but there are no hard feelings, its business. Its quite different if the person on the other side is a life long friend and you need to look at a harsh reality of moving them on or dissolving the company.

StereoSound

ironclaw wrote: »

If I can give you any advice at all, I'd strongly vet anyone you go into business with and ensure you set the ground rules from the very beginning. I'd get a project or two under your belts and retrospect each one: What went well, what went badly etc. Are they are an employee, contractor or a business partner? Its a key but very subtle difference. Your ideas and definition of how to get things done could differ greatly e.g. You'll work all night to get a release out, they'll clock off at 5pm every day no matter what. Likewise, ensure you have broad skills in the team. You don't need three amazing devs, you need a great dev, a great UI/UX and a marketing person, even if the latter most is part time. I'm confident in my code abilities but for the life of me I can't make stuff 'look good' nor can I really sell in person. Its important you have a broad skill-base as it increases your 'in house' abilities greatly.

If they do go down the route of business partner, be sure to put a vesting agreement in place and cover all the nasty stuff in the clear e.g. If someone wants out, if you need to get someone out, dissolution etc. Its not pleasant but it needs to be discussed upfront and openly.

Lastly, don't go into business with your best mate or partner, its a recipe for disaster in my opinion. I work alongside a great friend but we are business partners first. Sure, we have it out now and again, but there are no hard feelings, its business. Its quite different if the person on the other side is a life long friend and you need to look at a harsh reality of moving them on or dissolving the company.

Points taken thanks.

Vetting those people is my biggest priority, I am worried about those types who will be lazy in business while I do everything. I am no expert developer, I would be more overseeing the development team and getting new business while my development team crack on what they do best. I would also do the security consultancy and implement the needs of my client. I would see myself more of a front man since I am pretty good at that.

skimpydoo

As a tech journalist I get to meet and interview a lot of tech startups and one of the questions I always ask is who is Jobs and who is Woz?. The Jobs person in the startup can sell the company to anyone and is the business brains. The Woz person in the startup develops all the the tech and is the tech brains. You need one of each in any tech startup if it is to do well and as already mentioned vet who ever you intend on going into business with.

Paulmee

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