

Cofounder for Ramen Profitable Company - spremraj

I have been working on a concept for 3 years as a single founder mainly due to the unavailability of qualified risk takers in the midwest&#x2F;south east area.<p>Over the last 3 years, I have:<p>-Gone through 2 accelerators, have had one pivot, found a pain point that I am passionate about and could solve, Raised small seed capital round, built an MVP based on customer request and expanded it to a few customers, am Ramen profitable now<p>I am in the process of bringing on a business partner to expand the company now and raise some funds. How do you think the deal should be structured?
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zaroth
Current corporate structure? Current cap table? Who is on the Board? Are they
coming on full time and in the trenches with you? Are they a business partner
who is going to be sweating equity, paid a salary, a bit of both? Just a few
factors to consider.

One globally applicable rule, in all circumstances at least a 3 month cliff
and 2 year vesting period, but typically a 1 year cliff and 4 year vesting.
Unless you have a decade of prior experience working with the new hire, and
really, even then.

Consider tax implications. E.g. You'll need a 409(a) valuation and you want it
to be _low_. Consider if the new hire will get a Board seat.

Most importantly good luck and have fun. Remember it should be an enjoyable
experience and trust your gut. In general a smaller slice of a big pie is
better than a large slice of "ramen profitable". Be wary of "advisors" who say
they will make big things happen for your company but aren't the ones who are
going to put in the sweat, blood, and tears to make it happen.

Just a side note, your first paragraph is a bit of a red flag. If you can't
find people to work with you on an idea, especially considering you've been
through 2 accelerators, it's not likely that geography is the primary cause.
Remember, sales is about selling ice to Eskimos and selling people on your
startup is a Founder's #1 job.

