joshua brown • Posted on Oct. 18, 2020, 4:32 p.m.
How to negotiate with tech engineer for a new startup
Hello guys, I'm building a new fintech startup and I'm in search of a technical engineer, the problem I having now is that the engineers I have approached want to be co-founders of the startup.
This is my first time running a startup and I don't want to make any silly mistake.. Should I let them in as co-founders or not ? And what's the right way to negotiate with a co-founder or a technical engineer ? Please I need help and answers. Thanks guys
- joshua posted a problem regarding Fintech from Nigeria
2
First of all, you need to find out whether you really need a technical engineer?
If yes, then your next step should be to think whether you should hire them as a cofounder, employee or you should hire a freelancer.
If you want them to be co-founder, it's really important the person and your vision should be same, also you have to give him some equity in the company.
If you hire an employee, then you need to think whether you have money to pay them for at 1 years, Hiring an employee is not the preferred in early stage startup because of the amount of salary you have to pay each month.
Freelancers are most preferred in the idea stages, as most of the freelancers on fiverr charge less and their work is of top quality.
According to me, it's better to hire the best co-founder, or hire a freelancer for MVP.
Uday
22 Oct 2020, 5:22 a.m.