If you’ve had an idea and have been diligently Googling the range of pre-seed and seed stage investment options available to you, you’ll have seen that many of the investment firms only offer funding to those with a minimum of two founders and sometimes cap it up to six founders. At pre-seed stage having two to six founders is actually a red flag of concern to Startup Giants… we know we buck the trend in having this opinion; here’s why…
Ideas come essentially from one person, yes other people can pitch in on the idea and help it to grow but that crucial idea is yours.
Experience has shown us that Founders who rush to bring in more people whilst the concept is still at the pre-seed stage, normally do so solely to impress investors with numbers of a team. This is the worst methodology to hiring staff or bringing people into a project. Out of 400 applications in our last accelerator round, we walked away from a number of them because the tension and discord between the Founders was tangible. At the interview stage the following came across:- Lack of agreement on priorities- Unclear road map to journey forwards- Miscommunication- Poor management- Division of tasks may not pertain to skill sets- Lack of division of tasks- Lack of training on one side- Lack of appreciation for roles
All of these elements compound and lead to negative emotions. Now ‘emotions’ at this point should only be a word that’s used in terms of plotting the emotional journey of your end-user.