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Confused over Choice Between Co-founder or a Good Vendor ?

By Ashish Parik on 9 Comments / 2551 views

Hi All,

I am back again with a new query. Before sharing it with anybody i thought this could be the best platform for me to get some good insights. 

We run an e-com portal CAKEHUNT and we are based in Ahmedabad. It was launched in June 13. Though not very big, but we are doing a good business and have very good retention. 

We are 3 partners in this venture and none of us knows coding- shoding. In recent times (may be from day one) we are facing bandwidth, hosting and site updation issues frequently. I manage the backend which is limited to managing orders, product addition, modification and deletion. 

Since last few days the issues are increased and we are able to get things done from the existing vendor. He is fully paid for the work long back and few things requested initially are still pending. He might be having his side on this. 

Came in contact with some good peoples who shown interest to help me resolve the issues with the current site. There are 4-5 five peoples who shown interest to help, putting the money part aside. Yes, we are definitely going to pay the person his / her charges / fees. 

We are also working on some other such kind of business idea. Paying money and getting things done is the best possible solution. However, nobody can guarantee the future… We are good in execution part and worst on technical side. 

While talking to these people, a thought came to mind, why can’t be one of them be my / our partner in this venture. I can share some equity with them rather than paying them one time. 

It will help us get things done as and when we face any problem. At the same time, the technical person can get returns for lifetime from our venture. Though it will be small at the start, however it can work as a pension plan in long term. The amount is definitely going to increase with time, as we are also growing. 

Need you suggestions on

1. Shall we go for a co-founder by sharing equity with him / her ?

2. Shall we search for some good vendor  and pay him / her one time ? 

3. As the role may be revamping the site or may be designing it from scratch once, how mcuh do we share with the co-founder ?

Please share your views and I promise, one day, sooner or later, We will deliver your feelings – Safe & Secure…..

Thanks, the cakeman who deliver feelings, Ashish S Parik. 

You can read the previous discussion about our project HERE, how it started. 

(Image – foodtechconnect.com)

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9 Comments

  1. Go for a Co-Founder. 

    A good vendor cannot give you the support needed. 

  2. Ashish,

    This is a tough question.

    Important:

    Do the people you meet as vendors have the ‘mindset’ to become co-founders of a STARTUP?

    Direct point – as vendors, they make daily money charging people. Tech services is HOT. As a co-founder, will they make the same money?

    Also, a lot of tech guys like constant challenges = new projects.

    Will one business make them happy?

    Let me know how this goes…

  3. Hi Ashish , can we discuss it on phone call. 9226139959

  4. Hi Ashish, congratulations on doing so good on cakehunt.com, We would like to do a security audit on your website. Please let me know if you interested. Looking forward to it.

  5. Join us in nitrobator.com . We would love to work with you. 

  6. You don’t need a tech cofounder ,as you can Use a SAAS service like https://www.powerstores.in

    Concentrate on your core skills. Cheers.

  7. dis is online ecommerce platform where Incessant user interface plays a vital role in ensuring success of dis business in d longer term so keeping d same in mind I wud suggest to go for techie cofounder too who will help build strong foundation of ur business model.

  8. Hi Sir,

    At the outset my apology for the delay in reply… 

    Yes, it is very tough decision for us as well as the other side. 

    1. Yes, I met a couple of people who are genuine as compared to people with whom we dealt in past for our requirements. As of now I have not formally offered them any stake. However, shown my intentions to associate with a good and ethical co-founder. 

    2. Our sales post Oct 13 is good and growing month on month. Sells till date is organic without any ads. 

    If a founder of any such company or an individual give some man hours to revamp the website, he /she is surely making a wise decision. At least he /she can expect the returns as a pension plan for first 1-2 years and then money back policy. 

    3. We are having some big offers from both the sides, seller and institutional customer. Food Logistic in any case is going to grow a big time in recent times. We are already working on another project in same lines. Both these verticals will complement each other. 

    I remember your analysis of Dominos and will never forget…. Thanks a lot for your time, 

    …the cakeman who deliver feelings, Ashish S Parik

  9. Thank you everybody for the inputs and suggestions…

    Yes, it is a very tough decision and may take some time to get a good companion (as a vendor or partner)

    …the cakeman who deliver feelings, Ashish S Parik

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