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MenuHow to find a co-founder for travel related startup?
I'm planning to start a travel related business which have unique travel plans and destinations. It's like walking on the footsteps of great warriors, Spiritual leaders, Legends and travellers.
I'm looking for someone who is already working in travel industry and able to handle the operations side of the business.
Answers
I'd love to hear more. I'm a travel professional with 9 yrs in the industry.
Try cofounder labs.
Before you start, make sure you look at what you're going to need to make your business a success and look at what you can bring to the table and what you need.
A lot of start-ups struggle to get off their feet because the co-founders share a vision and a background which makes them great for bouncing ideas off one another, but then they get stuck at the execution stage where they need a skill set they don't have and can't afford to hire.
If, for example, you're an expert at travel and history, than you probably want to partner with an expert on marketing and technology because they'll be able to help you execute on your vision.
If you rock at marketing, but you're not as strong in logistics, you probably want someone with a lot of experience in travel logistics.
Define the partner who's going to help you achieve your goals, and then make sure that you go through a very thorough vetting process to make sure that you find the right partner for you.
Good luck
This sounds like more of a grandiose idea than a business. It sounds a lot like you don't have any experience in the travel industry per se (I could be wrong). The key to something like this how are you going to market it? Just who is looking for something like this? You would need a lot more validation and testing before you could consider finding a partner. However, if you talk to 100 travel agents about how to market this and they like it, you might find a co-founder through that search. It still makes sense to throw up a simple web site and offer the packages and see if anyone wants to buy them first. I like to throw some tough love out there to potential entrepreneurs so they can fight back with the right answers to win at their business.
Solve a problem that you have intimate knowledge of. if you do not know anything about the the travel space do not go down that path.
Stick to what you know. Based on your past work experience what problems have you encountered? Start there.
Whatever you do make sure your start up is a WANT not a NEED.
John Doe wants an iPhone
John Doe needs an iPhone
See the difference?
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What city are you in? Are you talking about your product or do you keep it secret? Finding a team is one of the most difficult parts. Make sure you ask friends of friends if they are interested. People often forget to tap their network to find talent. There are a lot of events that help find startup co-founders. Cofounders lab does a meetup group, you might want to check that out. Hope this helps.CZ
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How should I structure my real estate partnership?
I've been a commercial real estate broker for 5 years now and have ventured into a handful of business partnerships - some have worked and some have nearly ruined me. What I find, on a surface level, is that you must absolutely share the same VALUES and MISSION as your potential partner. Having even stake in the game also helps, as it avoids one partner eventually grabbing "the upper hand". If you are not bringing cash or equity to the table, be prepared to demonstrate how your hard work can be translated into $ value. If you have more detailed scenarios or questions, feel free to bounce them off me at anytime. Cheers! -S.SD
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How do you determine partner equity?
Hi, great question. You determine the value of the business before the partner joins, then you determine the value of what they bring. You then issue new shares to them. I made this video which may clear things up a bit for you. https://youtu.be/1EjKjSAd1F8 And this one about share dilution: https://youtu.be/FtogXYXCC1s If you want to discuss your specific circumstances, please feel free to request a call. David www.DavidCBarnett.comDC
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How to find a great partner?
By connecting with people, talking to them, building momentum, and investing enough time to explore goodness of fit. Don't be in haste to onboard one as you would encounter too many "Yes-Sir" and "Me-Too" kind of guys. But, in a long run it's pragmatic thinking and synchronization of vision that matters. Otherwise, either you or your partner will end up sitting back home,trying to establish everything around cocooned comfort of home than in right market. Use professional social platforms like Clarity etc to scout for right people. Otherwise, advises are always free!!SB
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How do I deal with a partner/investor that hasn't delivered on his end of things and now wants his money back?
This sounds as a deja vu to me. I have been in a similar situation back in 2000, we could only solve the issue thanks to a good mediator. However every situation is different and hence your route to a solution might be different. It also depends where you are in the world that defines how an email and/or verbal agreement might be a sufficient ground for legal actions. I am not a lawyer and can not judge that.PS
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