Let’s face it, in the earliest stage of a startup many founders are looking for co-founders, and other team members that will work for equity rather than an actual paycheck. It’s a gamble for the employee, if the startup doesn’t get off the ground, all that hard work may not have paid off. On the other hand, if the startup catches on fire like say, Instagram, you may have just earned seven figures for six months of coding.
Finding workers, co-founders, designers,engineers etc, that are willing to work for equity is a challenge in itself. Some workers feel that working for equity is like volunteering, and with the statistics for startup success as low as they are it’s definitely a gamble. Some founders don’t like to advertise that they are looking for equity workers, and they don’t necessarily know how to find them.
That’s where Boston startup HoursForEquity comes in. HoursForEquity is exactly what the name suggests, it’s a web portal connecting folks that are willing to work for equity, to those willing to give up equity for their work.
Bill Lott, co-founder of HoursForEquity tells us that their platform allows employers and founders to search a database of local, national and global people willing to work for equity. This way you can find the perfect team with the skills you need to succeed.
We got a chance to interview Lott about HoursForEquity. Check out the interview below: