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I started an online business a few weeks ago. We are trying to build a website, and eventually an app and social platform. I have many important decisions I need to make and I'd love to be able to talk to someone who has experience in this area and could help me out.
I live in Canada, for reference. I'm also a "business" person rather than a "tech" person.
My biggest concern right now is my team. I own 80 percent equity while my partner owns 20 percent. The biggest red flag is that we are both "business" people. The second red flag is that I believe all cofounders should be all in on an idea, and my cofounder is juggling 3 businesses at the same time, although he did say he would focus on this full time if it takes off.
I had the chance to speak with a business advisor (someone who has been in my shoes) yesterday and he likes our idea, but told me that there's a lot that I've been doing wrong. He also suggested I talk to a few other people like him, so that I don't just rely on his advice.
I'm also struggling with next steps, such as how much equity to give away, how to raise money (pitch vs private investors), whether to think of this as a project (what my cofounder thinks) or as a business.
If anyone who has been in my shoes and is willing to talk I'd really appreciate it.
I live in Canada, for reference. I'm also a "business" person rather than a "tech" person.
My biggest concern right now is my team. I own 80 percent equity while my partner owns 20 percent. The biggest red flag is that we are both "business" people. The second red flag is that I believe all cofounders should be all in on an idea, and my cofounder is juggling 3 businesses at the same time, although he did say he would focus on this full time if it takes off.
I had the chance to speak with a business advisor (someone who has been in my shoes) yesterday and he likes our idea, but told me that there's a lot that I've been doing wrong. He also suggested I talk to a few other people like him, so that I don't just rely on his advice.
I'm also struggling with next steps, such as how much equity to give away, how to raise money (pitch vs private investors), whether to think of this as a project (what my cofounder thinks) or as a business.
If anyone who has been in my shoes and is willing to talk I'd really appreciate it.
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