Building An Early Stage Startup Team With No Funding

Building an early stage startup team with no funding

You’ve just started your company, and you have no money. You know you need to build a team. However, you don’t see any way that you’re going to be able to build a team without any money or funding.

It’s the ultimate catch-22. However, this is a solvable problem. In today’s video, I’m going to explain exactly how to build an early stage startup team with no funding. Here’s how:

We’ll start by explaining the most common mistakes CEOs make building their teams. Then…
We’ll examine the qualities you should look for in your new team. Then…
I’ll show you how to recruit your early stage team.

I hope you like it.

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#brettfox, #startup, #teambuilding

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[kanishkbhardwaj]

How much equity to the first employee who you’ve paid 1/3rd of market rate but has worked like magic for your Co.?

[syedmoiezbukhari]

Brett, your videos have been amazing. I'll watch all of these videos this weekend. Great help with my current company stage!

[MHS-ItsYourTimetoFly]

Brett thoughts on Revenue Sharing vs Equity. Both for Investors and early team recruits? No liquidation event required. For investors % of top line sales for X period of time or a target IRR return is met, the later of the two. The capital is predominantly for Working Capital, no CAPEX. This is a high margin, super efficient cash flowing business w no long term commitments or liabilities or CAPEX. HAve initial team members begin as 1099 employees and all their XPS are deductible. The Revenue Share is paid out in deferred tranches, % quarterly then annually (holdback till EOY). After 1 year option to join as W2 or remain 1099. Additional revenue share bonus accumulates and is deferred until 3 year vesting. What are your thoughts?

[MrCharlinus]

What a great channel, thanks a lot for taking the time to share your experience and help people like myself who are starting their business!

[nulevel]

Keep going …
You’re giving great quality content

[johnlindsaygreen]

I learned how to hire people with like-minded character and motivation.

[leodidomenico]

Hi Brett. Thanks for this great channel!!! My question is this: It is against the "minimum wage laws" to have employees that are not getting at least a minimum wage in the USA. If you have someone work for you and then you subsequently have a falling out, they can easily turn around and file a lawsuit that they were not paid any salary. This can cause the courts to liquidate your company assets to pay the prior team members their missing wages. Needless to say taking on employees without a salary is a very serious liability. It can essentially give control of your company away to the team members that did not work out and that may be at loggerheads with you – the CEO. If you have many years building out patents etc.. it can effectively be a legally induced fire-sale of your company forced by the courts. I have not been able to see a way around this problem and would love some advice so I can protect the decade of patent development prior to hiring my start-up team. THANKS !!!

[thelifeofbiraj]

I am a 19-year-old developer eager to create a SaaS product and turn it into a startup. Since I don't have a team, I'm coding and building it on my own. I'm also learning about the business side of things. Can I succeed as a solo founder, or do I need a co-founder?

[abderrahman.jalled]

This is an epic channel, just finished watching all the videos.

Ps: we're doing something in semiconductors space, I would love to connect with you 😊

[tabotcharlesbessong]

Oh God. This is great. This will help me with the stage i am right now with my company

[ask-csk]

Shareing the Pitch Deck of Fundraising or Customer Pitch Deck to New recruits ? Or what

[chukwuemekannaji]

Thank you Brett for this. I requested for it awhile back. Thank you also for the email posts. Rock on sir!

[derekkuhl]

Finding qualified people at all seems to be a near impossible task. Not being immersed in the startup community, I am finding it very difficult to raise interest from anyone qualified much less anyone I would hire much less anyone who would work for no salary.

[fasondeviv]

Can you help me build a company culture etc