Could somebody please give me some advice for a predicament that I am in?

[Golfman530]

I have a good idea to start a new business. This business would be an online business so I would obviously need a website. Since I do not have any technology experience at all, I need major help because I do not know how to build a website in the least. To solve this problem, I want to find a business partner who knows how to do site development and design for me and then make that person the co-founder of my business with me splitting everything 50/50. I plan on doing the business and marketing side while my partner does all the technical side of the business. Since I have never done this before, I do not really know how to find somebody to be my partner. I do not have any friends or family who work in or have done web development before. I am currently a college student so I know that there are people around on my campus who know how to do this but I do not know any. I thought about putting up a flyer (especially in the computer science building) basically saying that I have a start-up business idea and I am looking for someone to go in on with me to do the technical side and then put my contact information. With this idea however, I am just worried that I will meet with a potential partner and I tell them my idea and they proceed to steal it and then I never hear back from them again as they are developing my idea. I am scared to try to find a complete stranger to go in on it with me because I feel like I would not know them well enough to trust them with the business.

I know you can hire a web developing firm to build a site for you but being a college student, I do not have that kind of money to spend.

I know that for the business idea that I have, the website would be detailed and in depth so I know that I could not use GoDaddy.com or a related site such as that to build my site for me.

I just don't know how to find somebody to be the co-founder with me that I know I can trust.

Has anyone ever been through this before?

Do you have any advice for me?

Any advice on how to develop a site such as this without a co-founder?

Any advice or help you can give me is greatly appreciated!

[KristineS]

You're either going to have to hire someone or find someone who will do the technical work for a stake in the business, which it appears you already realize. The problem is that you probably won't find a lot of people who will be willing to do a ton of work on the off chance that the business might take off. I'm not sure what your idea is, but your first hurdle would be convincing a qualified person that they want to invest their time and talent in a start-up that right now only exists as an idea.

Basically, what it sounds like is you're looking for a web designer and then once the site is complete a web master. So, that needs to be considered too, as you'd want someone who would not only build the site, but would be willing to keep it running and maintained and updated. That's a much longer term commitment.

Basically, I think you need to put in writing exactly what you're looking for and what responsibilities and duties this person would have in your potential company. Put it all on paper so that it's very clear what's needed and expected. The next step would be to figure out what you're willing to offer for the services you need. If it's a 50/50 share in the company, then make that offer, but be very aware that doing so means you are allowing someone else partial control of your business and your idea. It sounds like a good move now, but if you have a specific vision and goal giving up even a little ownership means you have to consult others. A partner is not an employee, they have as much say as you do in how things are run.

I would also look into developing some sort of simple agreement that you would have potential partners sign which outlines the idea your proposing and acknowledges that said idea is owned by you. I'm sure you could find templates online or get something done relatively inexpensively. If you think your idea could potentially be stolen, you certainly should spend the money to protect it and your rights.

Realistically, the best thing to do would be to find ways to raise money so you could pay qualified professionals to do what you don't want to do or aren't qualified to do. See if family members or friends will float you a loan. Consider living on credit cards for a while. Partnerships can and do work, but the reason to start one isn't because you don't have any money.

[huggytree]

you want a PARTNER just for the purpose of doing your website??? your going to split 50/50 your great idea just so someone will build it for you??? eh?

I know you dont have any money....your plan shows desperation and it is what it is...i know

I would in no way go into a partnership with a STRANGER 50/50 just to get a website....NO!!!!

borrow $ from family and friends....hire someone to do your website

get a weekend job...save $$....get a summer job....save $$....cant you scrap up $10,000 by next Fall.....

maybe you need to start out with a cheaper/ more basic website for a couple of thousand....work your way up to the website of your dreams!

you can probably think up 5-10 different ways to get to where you want to be....getting a partner would be my last choice

[stevie0040]

Golfman... I was in a similar predicament about 10 years ago. I knew I wanted an ECommerce site that did transactions online but didn't want the hassle of creating my own from scratch. So I went with a "template-based" webstore at the time by the Yahoo shopping network. After a few years, I realized how much it was costing me to add more and more products without being able to customize the way I want it. Yahoo was getting rich, not me. So took a leap and invested time, $$, and sweat customizing using one of the open-source E-Commerce sites. I stopped paying hefty monthly fees to Yahoo while being able to invest the money in other things like PEOPLE. Although your site might be the best thing since sliced bread, I learned that people who answer the phones was just as important. And hopefully, you'll choose people who are in the U.S. of A! I don't know if you are looking for an E-Commerce website but the principle is still there. Customizing is so important. I am very thankful that I found a niche in the promotional products marketplace and my returning customers rely on us for specialty items. At the same time, we advertise heavily with Google Adwords (I can see why Google make tons of money), and spend a lot of time with SEO for new customers. The sweat time really paid off because there is no substitute for experience and learning from failures.

I won't spend too much time in this forum giving tons of advice, but I will give you one. Do not offer 50/50 to anyone. Do at least 51/49 with you being 51. Or even 60/40. It's your idea. If any honest business partner wants in and it's a great idea, they will defer final decision making to you. It is your vision, your dream. Going 50/50 will make it hard from a decision-making stand-point. I am lucky to be the sole proprietor and fortunate to be able to learn and understand business, technical (engineering and programming background), marketing, accounting, customer service, janitorial (hey, the office has to be kept clean), and supervision amongst other things. But if I were to bring in a partner, I would definitely have the majority stake.

<please set up a signature>

[Dan Furman]

you want a PARTNER just for the purpose of doing your website??? your going to split 50/50 your great idea just so someone will build it for you??? eh?

I know you dont have any money....your plan shows desperation and it is what it is...i know

I would in no way go into a partnership with a STRANGER 50/50 just to get a website....NO!!!!

borrow $ from family and friends....hire someone to do your website

get a weekend job...save $$....get a summer job....save $$....cant you scrap up $10,000 by next Fall.....

maybe you need to start out with a cheaper/ more basic website for a couple of thousand....work your way up to the website of your dreams!

you can probably think up 5-10 different ways to get to where you want to be....getting a partner would be my last choice

Totally agree with Huggy here - you'd give 50% (40 / etc) JUST to get a website? Man, what people will do for a few grand...

Goodness, be an entrepreneur - borrow a few bucks, whip out the credit card / etc. Take some risk.

[MyITGuy]

Another person in agreement with Huggy and Dan. There is absolutely no way I would give a 50% (Or any percentage for that matter) stake in my business just to have someone develop a website for me.

As Stevie mentioned, start out with the basics (A template or co-branded site), if this isn't something that can be done then borrow/save the funds you need to get this site developed.

[MyITGuy]

With this idea however, I am just worried that I will meet with a potential partner and I tell them my idea and they proceed to steal it and then I never hear back from them again as they are developing my idea.

Just out of curiosity, what type of classes are you taking?

For what it's worth, if you continue to pursue a partner to develop this idea...you should look into a non-disclosure agreement (NDA for short). Don't go cheap and put your own together, talk with a lawyer that is familiar in these matters to ensure your thoughts/idea is soundly protected.

[christinagilman]

I think if you are going to find a business partner, it needs to be someone you already know and trust. Especially if you will be splitting it 50/50. Also, building a website does take a great deal of time and knowledge, but depending on the nature of your site, maintaining it just will not be as time consuming. So once the "partner" gets the sight up and running, unless they get some other gig in the company I don't think they'd be earning their 50% share.

I really think that if you want to proceed with your business, you need to hire someone to do the website for you. See if you can find someone that can set you up on a Content Management System (like Wordpress) and teach you how to maintain the site yourself. That way, you would only need to pay that person for any more technically advanced updates or troubleshooting problems.

[SteveM]

Golfman, it sounds like you're really excited about this opportunity! However, in addition to what everyone else already said, if you have a great idea, then slow down. Great ideas don't die, but getting into a business before you're truly ready will certainly go a long ways towards killing it.

Protect your intellectual property first and foremost, spend some time developing your business model in your head, and start looking to increase your knowledge on internet marketing and website building. As most of the people here already know, it takes WAY more to make a website work than just slapping a website up. Someone already mentioned about SEO for websites - you can have the greatest idea in the world, but if even Indiana Jones couldn't find it, it wouldn't matter anyway! If it were me, building a business based on someone else's knowledge would scare me to death! You'll have way more security in knowing ALL aspects of your business, not just managing and marketing. You can actual start your education by examining this forum closer - there is a ton of great information to be had for free!

Invest in your knowledge before business, and you'll go a lot further in the long run.

[Golfman530]

Thank you everyone who replied to me. You all gave great ideas and points. I can totally see now how going 50/50 with somebody would be a really bad idea just for their web expertise. I currently have a business mentor through score.com and I actually told him my idea and I realized that I still have a lot of thinking and changes to make to the idea. (He shot holes through the idea which I am glad he did because it was constructive criticism.) I am actually thinking about completely changing my idea 100%.

I guess I got slapped in the face with reality. (Which I am very very happy and thankful for.) I found a family member who started his own business and was able to talk to him for quite a while and he helped me realize just how difficult it is to start from scratch.

Now, I almost feel like I should wait until I am older and have money and then consider buying a franchise or a business that is already established.

While I know that all kinds of business ownership and entrepreneurship is difficult, to me it seems much more difficult to start a business on an idea that has never been done before. The chances of failure are much higher compared to starting something small like a car wash or a local restaurant.

I am also realizing that there should be no rush to try to start my own business. I feel like rushing into it without the proper funding, planning, and support would be a disaster.

Thanks again!

[KristineS]

Rushing is definitely a bad idea. It's good that you're taking the time to learn from others and making use of resources you have available to you.

I do take issue with one thing you said though. There may be more risk in starting a business with an idea that has never been done before, but the potential rewards are also huge. Look at Twitter. If someone had told me about an idea like Twitter 10 years ago I would have laughed myself silly. Now it's huge. You can argue that profitability may not have happened yet, but there is enormous potential. So, don't discount your idea simply because no one has ever done it before. While that is risky, it can also be a huge advantage.

[SC93]

..... HOLD THE TRAIN!!!!!! No matter if you find a partner or don't find a partner and no matter if you start your own business or work for someone else... credit cards will kill you. One person said to live off credit cards for awhile. I don't mean to offend the mentally disabled but that is the stupidest thing you could ever do! Don't ever even apply for one and you will be better off in life. I've never had one.

When thinking about a business in the future just realize that partners almost never work. Get your life going... have a base income... then if you feel like doing something with a partner for FUN then do it. But don't make a partner a part of your base income.

[billbenson]

Now, I almost feel like I should wait until I am older and have money and then consider buying a franchise or a business that is already established.

While I know that all kinds of business ownership and entrepreneurship is difficult, to me it seems much more difficult to start a business on an idea that has never been done before. The chances of failure are much higher compared to starting something small like a car wash or a local restaurant.



A car wash or a restaurant or car wash takes a lot of money to start up. An online business has far less overhead in most cases. The growth rate of an online business, especially if you have never done it before, is slow. Plan on years not months.

You can pretty easily learn to put up a website at wordpress.org. Plenty of tutorials out there. There is a lot to making a nice website and getting it to rank well on the search engines, but start with a basic site you make and grow from there. It costs you $12 for a domain and $10 per month for hosting. Not much!

Ideally you can start it in your spare time and grow from there. There is a lot to learn, both from the business side and the web side. You really need to know both for an online business. The only real way is to do it. Just jump in slowly!

[billbenson]

..... HOLD THE TRAIN!!!!!! No matter if you find a partner or don't find a partner and no matter if you start your own business or work for someone else... credit cards will kill you. One person said to live off credit cards for awhile. I don't mean to offend the mentally disabled but that is the stupidest thing you could ever do! Don't ever even apply for one and you will be better off in life. I've never had one.

When thinking about a business in the future just realize that partners almost never work. Get your life going... have a base income... then if you feel like doing something with a partner for FUN then do it. But don't make a partner a part of your base income.

To say "never finance with a credit card" is ridiculous. To refer to successful veteran of this forum as mentally disabled is an insult to him and the forum.

To not own a credit card means you can't buy online (or you use a debit card which provides you little protection against fraud in comparison to a credit card). And there are cases where using a credit card is a viable way to finance a business. Not in this case IMO, but many thriving businesses have started that way.

[Dan Furman]

..... HOLD THE TRAIN!!!!!! No matter if you find a partner or don't find a partner and no matter if you start your own business or work for someone else... credit cards will kill you. One person said to live off credit cards for awhile. I don't mean to offend the mentally disabled but that is the stupidest thing you could ever do! Don't ever even apply for one and you will be better off in life. I've never had one.

When thinking about a business in the future just realize that partners almost never work. Get your life going... have a base income... then if you feel like doing something with a partner for FUN then do it. But don't make a partner a part of your base income.

To come to a small business / entrepreneur forum and say that is absolutely, positively ridiculous.

Secondly, nobody said to "live off credit cards for awhile". Kind of a leap there, Captain Comprehension.

[SC93]

I leave the results of the people in the USA to speak for what I said. Yes, there is 1 out of a million who will treat their credit cards correctly. The rest will end up as your neighbors as you look around. Many thriving businesses have been and will be started this way and most have a life of hell to follow it up with. IF they survive at all which is doubtful.

Not only have I had no credit cards, I've had no credit. I can't do anything? I have a 2011 Dodge Grand Caravan. I live in a penthouse apartment over-seeing the city. We just got back from Key West where we stayed at the Key West Marriot Resort (they even threw in the $17.50 parking for free). And all with 0 credit cards nor credit. As I look around I see nothing I want or need yet have never had a cent of credit. As for ordering things online... I'd never do that anyway. I like seeing my stuff before I buy it. We usually buy things locally when we can. I'm thinking really hard and the only thing I can think of that I need in the whole world is a package of chocolate chip cookies.

But please, don't feel insulted. Credit was how we were brought up. Get that credit score high so you can buy things and pay interest. That's how it was thought to be. It doesn't matter if it's a Dr. Pepper, a car, a house or a business... if you can't pay cash... don't do it. By the way... I started with only enough money to buy one 16oz Dr. Pepper so don't be thinking I had any start-up money.

[Dan Furman]

A bit pompous, doncha think?

And a bit of a reach, too (again, your reading comprehension flat out sucks. As does your demeanor.)

Have a nice day.

[vangogh]

I don't mean to offend the mentally disabled but that is the stupidest thing you could ever do!

You're new here so I'll cut you some slack. However do know it's never ok to call people mentally disabled or say they're stupid. It's the kind of thing that usually leads to a ban of your account. Just because someone doesn't agree with your view doesn't make them stupid or mentally disabled. It means they have a different opinion. The wisest people on the planet are the ones who realize that none of us has all the answers. Keep the personal insults out of the conversation. Thanks.

As far as using credit cards I disagree. A lot more than 1 out of a million use their credit cards correctly. Let's be realistic. You don't hear about the people who use them well though, because there's nothing to tell.

There's nothing wrong with using credit cards to finance something. I'll use myself as an example. I'm a web designer. Without a computer I go out of business. Let's pretend I don't have the cash to buy a new one, but my existing computer stops working and it's unrepairable. I do have a credit card. If I don't use the card I can't work. If I do use the card I can. Even if it takes a long time to pay off the card and I ultimately have to pay twice what the computer costs it was still worth it because it keeps the business alive.

You seem to be suggesting I should skip using the credit card, maybe get a job and save up till I can pay in cash and then go back into business again. The problem is in that time I've possibly lost all my clients and years worth of marketing that was done to build a client list would be wasted. I would actually lose a lot more by not using the card.

Debt isn't by definition a bad thing. Sure some people abuse it or don't know how to handle it, but to suggest that only 1 in a million are capable of dealing with debt correctly is an extreme exaggeration.

[Dan Furman]

You're new here so I'll cut you some slack. However do know it's never ok to call people mentally disabled or say they're stupid. It's the kind of thing that usually leads to a ban of your account. Just because someone doesn't agree with your view doesn't make them stupid or mentally disabled. It means they have a different opinion. The wisest people on the planet are the ones who realize that none of us has all the answers. Keep the personal insults out of the conversation. Thanks.



I don't think he/she quite meant that as a personal insult. I would have reacted stronger if I felt it was. But I do think he/she is a bit (ok, a lot) arrogant, and definitely off base. The opinion/advice seems to be of the "if you don't do it like me, then you're wrong" mindset, which as you point out, is not a wise one. I congratulate the poster on having no debt and being ok w/ that, but he or she fails to realize not everyone will have their exact set of circumstances, income, opportunity, (whatever), etc.

[vangogh]

Maybe not a personal insult, but I don't think it's ok to suggest that someone who disagrees with you is mentally disabled and I think if we allow language like that it can quickly get to the personal level. Perhaps my comment leaned toward the harsher side, but I do want us all to argue with each other civilly and with respect for each other.

I will stand by my assertion that it's the smartest among us who realize no one has all the answers and it's important that we not shout down ideas that don't agree with our own. We should all defend our convictions, but we still need to respect the convictions of others even if we don't agree with them.