Struggling Startup in need of advice

7 pointsby CPhelps15 anni fa6 comments

I'm working on a startup with 4 other members. We've been in development for about six months, but now that the summer has started we're all working full time and living together. The change has been stressful-working 12 hours days surrounded by the same group of people is difficult in any sense. Recently things have turned for the worst--we're struggling with our vision, and without a proof of concept arguments have broken out regarding what to do next. The environment is frustrating, discussions are often negative and collaboration is difficult. I find myself unmotivated and irritated on a daily basis. The founder with the most equity is forking up money to pay some of us over the summer (not exactly the idea startup situation to begin with), so it's essentially his project. However, he has been unable to effectively lead the team. Over the last 6 months I've gradually lost faith in him and now feel entirely unconvinced of his ability to make important decisions or accomplish specific tasks. He's failed to produce tangible results and brings next to no skills to the table except significant personal wealth and the initial idea. I constantly feel as though I have to make the tough decisions and lead the group (although I often feel uncomfortable doing so because of his status/equity). We recently switched to a new development framework and are in the midst of a painful pivot. We're probably about a month or so out from launching any sense of product.

I'm passionate about entrepreneurship and love the work I've been doing, but find myself in a bind. As a university student, I can either pick up an unpaid internship gig at another startup (and possibly find a new living situation) or continue working for the rest of the summer under salary. I'd like to salvage the project and the summer, but I'm unsure if things will improve.

Any thoughts and suggestions are appreciated.

5 comments

actionbrandon15 anni fa

I think you are undervaluing the rich partner's contribution. I'd rather be "#2" in a well funded startup than the "CEO" of one with no cash.

If the idea is sweet and you are able to lead the team to success, you will become loaded. His coding/input is irrelevant--he has the cash to get you there. Plus, when it starts rocking if you are the leader he can never let you leave.

If he isn't comfortable with you leading and there’s fight about it, then like the previous poster said, it just accelerates the inevitable.

laglad15 anni fa

If the rest of the team feel the same way, you have to confront the situation and air all your grievances about the product and the direction of the company. Communication is key when traveling this treacherous road. Worst case scenario, it breaks the team, but it accelerates the inevitable since the status quo is clearly not working. Best case scenario, everyone resets and you can talk candidly about your concerns.

Now if you're the only one in the team who feels this way, then take on the leadership role and shoulder the responsibility with the money-man.

DevX10115 anni fa

What would you consider a successful financial exit from the company? Reverse what you would have to sell the company for to hit that number along with 3 other cofounders (and it seems you are not a primary equity holder).

IMHO, 4 persons is too many people for a startup that hasn't yet launched or proven traction.

ohashi15 anni fa

Sounds like you guys need to talk. With the attitudes you've described it's not going anywhere.

_mayankjain15 anni fa

IMO you people are already working on a project from 6 months by this time you must be having a working version of the product. You should get out and concentrate on refining the product, iterate the product leaving your ego's aside. Try to market the product. Sometime when you don't have money coming in you loose your motivation. When you start getting some money you will enjoy rest of the things. Why you switched to a new development framework does any of your customer told you to do so. If not then I think you need to learn.

grantismo15 anni fa

I completely agree. Let the market decide debates. Reduce the number of features you're immediately developing so you can launch and iterate faster. Get something out there pronto.