Step 1: meet possible co-founders in person: MeetUp.com
Step 2: test if the person is a possible co-founder for you: Ask them to coffee
Step 3: make it official: Do the paperwork online
I’m putting this on my blog, so I remember.
More helpful advice from OnStartups.com
I will add my three rules I try to apply for every partnership I do:
- Define in a written document when and how a partner can quit the company (details below).
- One of you has to be the boss. You can’t direct a company having mutliple CEOs.
- It helps when one of you has the majority of the shares.
The first rule is the most important of all. I generally suggest this to the future partner:
If one of us wants the other to leave the company, he has to propose to the other an amount to buy his shares. The other has the right to either accept the offer or buy the one shares at the same amount he originally proposed.
This system has two advantage:
- it forces the parter to do an honest offer.
- it is easy to implement.