You’ve all heard the common advice that to startups that you need a good team. I’m sure that is right, however some times and at certain stages that team should consist of just you.
Granted if you happen to have a really good small founding team of really capable people, by all means you should work together. However, don’t go searching for your team unless you have a specific requirement.
Founders are also â€œexpensiveâ€? in terms of equity (usually, and sometimes even rightfully, to reward them for taking the risk in joining a startup). Founders are harder than normal employees to transition out of the Company (not legally, just emotionally: â€œHow can we fire Joe? Heâ€™s a founder.) Just like most people (including VCâ€™s), founders usually have skills and experiences that are narrower than they, themselves, believe (even sincerely). And finally, founders donâ€™t always pick their co-founders with a beady, cold-eyed, highly calculating gaze with a tough-minded focus on who can actually make the biggest contribution to the Company. Often, co-founders are picked because they are friends, or like-minded, or â€œgreat people, the kind youâ€™d pick if you were in a foxhole under fireâ€?.
He talks about how VC’s analyze the team. This also applies to us bootstrappers and it is certainly a kind of uncommon wisdom that we should heed.
My take on it is stay solo or tiny where each party has a clear role and clear talent to fulfill this role. When you actually feel a specific need that you can’t fulfill in your existing team (or by your self) bring partners in one by one to fullfill the necessary tasks. See for example 6 simple rules for micro ventures for more information on when you should bring further partners in.