Additional Q&A, anonymized
neoniousTR last edited by
From an e-mail discussion:
Q: It will take time to put together a product launch plan. I would appreciate knowing if there are any other people building plans and what commitment you will make not to "borrow" the contents of the plan.
A: I cannot make any commitment not to borrow contents of your plan. Most of the time the same ideas come up on both sides, and if I would make such a commitment, that could make the company not be able to go forward if you would not be chosen as part of the team. However, I hope to have made clear in the presentation that the problem is not that I do not have a plan, the problem is that I have to concentrate on the business where my actions matter the most, and that currently Is AllMediaDesk. So it would not help me at all to steal a plan. The things I request you to hand in is to access your skills, nothing more.
Q: What timescale do you envisage to get the business fully funded? You suggested a full-time commitment to the new company, but this may not be required until the business is fully funded and operational.
A: I do not completely agree that the company has to be fully funded (= enough for employee status level salary) to commit to work for a project full time and for a company to be operational. In the first four years of building startups (back then the audimark GmbH), I worked full time on a minimum financial level, and that was worth it. audimark transformed to audio CC, then to AllMediaDesk, and after those first years, I had no reason to look back to being an employee at all.
I am giving away 30% of the company per person for free, so to be honest, I think it is important to see commitment from the new team members.
But yes, at some point there should be a normal salary. In my experience, doing a VC round can take 6-9 months.