what is the best way to hire people in the startup without pay?

[Sunny2]

What is the best way you found to excite people to join your team without giving up shares of your company in the start-up phase?
I am the founder of the company but I am looking for others to join me to build this vision. I don't have loads of money to spend on salaries and I want people to bring value to the company. Recently someone asked for shares in exchange for their work but I haven't even seen their ability to work as they won't start until we agree on a compensation package. What has worked best for other start-ups? At this point, I would rather hire a social media company or learn the material myself than to give shares away to someone who has not proven they deserve them. Thoughts?

[Fulcrum]

Easy answer: You don't.

No one in their right mind will join your "team" without any reasonable pay.

Also, can you tell us more about your business?

[Paul]

There are various schools of thought regarding shares in a start up. It’s something I do all the time, either issue or receive. In my case I usually have a clear idea of what they can and will do. That makes it easy.

If you don’t know them well, you can set up a short trial period granting some shares. Then when satisfied you can grant more. You don’t have to grant all at once. You can spread it out over time, or in accordance with a schedule of accomplishments.

To start a company with little cash leaves you no choice but to work with shares. I don’t know your business or their abilities, but you might consider yourself lucky that they are willing to get on board without cash compensation.

Consider this; can you really do it without them, do you even want to?

[Harold Mansfield]

You don't.

If you've developed something worthwhile you may be able to attract talent in exchange for a share of the business. But no one is going to work for free on an idea. Everyone has ideas and most aren't that special. Execution is everything.

Also what skills do you bring to the table? If your project is dependent on other people doing the work and you have no skills of your own, you have to ask yourself why they need you?

My advice..build as much of it as you can on your own. Really put forth effort and money to get as far as you can to show a real proof of concept in order to possibly attract talent to join your team. Realize that unless your thing is truly ground breaking and has huge economic potential most people with skills won't bother as they've heard it all before.

[Paul]

You don't.

If you've developed something worthwhile you may be able to attract talent in exchange for a share of the business. But no one is going to work for free on an idea. Everyone has ideas and most aren't that special. Execution is everything. ................ Realize that unless your thing is truly ground breaking and has huge economic potential most people with skills won't bother as they've heard it all before.

Exactly! Seems you need both money and capital. You need a lot of prep before you can attract either. You need to be pretty slick to pull that off without some exciting situation and momentum, or at least a personal successful business history. What is the business idea? We may be able to give more specific advice if we know.

[bella.lopez]

If you have an idea that is buzzing and trending for your startup, you should look for like-minded people who want to grow with you. Perhaps you can look for people in campuses and keep them as interns (without pay) but a promise for employment if they perform well. This seems to do well for most startups. Might as well work for you!

[HumaneHosting]

My mom told me two things... Old and young people are generally the "go to" for cost/no pay effective labor. But don't expect anyone to do something for absolutely nothing in return. Also each of those groups of course have their "ups" and "downs" so if your going after them be sure to choose carefully and tailor the work to their needs and wants. :)

[TAG]

This web site is as close as you'll get to free work. I agree with some of the others, try to set up a trial period. Offer some shares now and if they perform give them more. That said, if you are in start up mode do you really need to be adding heads and giving away shares? What do you do? What do you need them to do? Really evaluate that.

[g.geramo@web.de]

You´ll need like minded people who believe in you and your ideas.
The only room to look for them is around you.

[Wash & Dry]

Then again, they haven't seen what your 'company' can do so why would they even work for shares? At this point a share is worth as much to them as a broken window. They are nothing to you and your company is nothing to them. I'd say if you don't want to do it this way, work a part time job and pay them what you make at your part time job until your 'company' can pay them. If it's a very good 'company' it won't take long..... right? On the other hand.... why can't you make your company start bringing in money and then pay them from your work at your company?

[vlad1.96]

It's possible, but you should be really great leader
People should be inspired by the idea, you must make them believe in it.
Also, you should have a very close relationship, so people trust you and spend time on you.
Simply put, you must infect the idea, and promise that you will spend your time well, maybe even with a beer or a console once a week

[businessexpert]

You can also do interns. Try internship.com

[businessexpert]

Hire Internships

[Gabby6]

:confused: no one in their right mind will join your team without pay

[enevins87]

Like most of the replies on this thread, you'll likely have to offer shares if you can't do a salary. However, you'd obviously want to know what those people are capable of. You're not going to give out equity without knowing what kind of partner you'll be getting.

A better first option is to contract out work in the early stages. Use whatever cash you have to pay for projects. You won't be required to keep salaries and burden on employees and you'll likely get work done efficiently and effectively. Don't consider your first hire or partner until you're absolutely necessary you need them.

[ricardowatts]

Of course, the best approach is to supplement salaries with company equity. If employees feel confident the business will take off. Then they will probably be willing to accept lower-than-market wages, as long as they're getting stock! :-)

[RjMaan]

You should always prefer that person who has a grip over his work and you think that this person might be a boss of his business if he takes some risk.

[Harold Mansfield]

You should always prefer that person who has a grip over his work and you think that this person might be a boss of his business if he takes some risk.

Not sure what you mean by this. Can you elaborate?

[turboguy]

I would be happy if I could hire people for pay.