3 guys, fresh out of college, looking for some financial advice on obtaining a developer for our startup
July 16, 2008 12:25 PM Subscribe
Two college friends and myself are looking to put together a mobile application start-up. We have the business end of the startup covered, but we need to find a developer to help us out. We need some financial guidance on what to do and what not to do. Should we pay a freelance developer, or bring someone on board with us as a partner?
posted by drkrdglo to Work & Money (15 answers total) 4 users marked this as a favorite
My friends and I have finished college, have great full-time jobs, but we are still looking for something more. We share a passion for technology and innovation. In the current climate, mobile technology seems to be a huge growth area, and a huge area of opportunity for a new startup.
At the current time, we're looking at this startup as more of a serious project than anything. We're keeping our day jobs (in advertising and ecommerce) not only to continue being able to pay our student loans, but to continue learning how the industry works. Business wise -- we're set. Financially -- we can get by. We have a few thousand dollars to invest at the time being. We want to make sure we're making the right investment.
Our current dilemma is that we need a developer. We need to find out whether it's better to hire a freelance developer (which I've seen ads on Craigslist ranging from ~$60-$75/hr), or garner the interest of a fourth partner to join our team. Under the assumption of gaining a fourth partner, he/she would receive compensation, as the rest of us would --- after the applications are launched and sold.
Since this is more of a very serious project as opposed to a full blown business -- I would be more comfortable with a fourth partner, but hey, I could be totally off base about this whole thing.
In the end, we're doing this because 1) we love the industry/would love to be a part of a technological revolution 2) there's huge potential for future opportunities. In order to make our dreams a reality, we need to find a developer -- our missing link. Hopefully you guys have some insight how we can go about doing so in a financially responsible way.
(Side note: if there's a developer out there interested in this sort of endeavor -- send me a message!)