This looks like a cool op. 99.9% of people can't afford to do a startup unless it has near-zero costs.
Of course, a lot of what makes startups succeed is scarcity of resources and fear of imminent and public failure. You're taking that away and functionally creating an incubator, which have long histories of producing mediocre startups/products.
If I were you, I'd adjust it to:
1) Pay bread/water wages.
2) Give them skin in the game (equity). As much as you can stand.
3) Tell them they have 6 months to build something people want/like or their salary goes to zero and they can continue on like any other entrepreneur (for the love/belief in the project and the hope that they can make it go big).
4) Hire 2 people, not one.
I agree, for what it's worth. Fear is an essential component to the mix.
One thing I'd add -- building something people want isn't a silver bullet. Building something people want enough that there's value generated is. Mixing that up, which is way, way too often done on this site, is fatal.
Comments
This looks like a cool op. 99.9% of people can't afford to do a startup unless it has near-zero costs.
Of course, a lot of what makes startups succeed is scarcity of resources and fear of imminent and public failure. You're taking that away and functionally creating an incubator, which have long histories of producing mediocre startups/products.
If I were you, I'd adjust it to: 1) Pay bread/water wages. 2) Give them skin in the game (equity). As much as you can stand. 3) Tell them they have 6 months to build something people want/like or their salary goes to zero and they can continue on like any other entrepreneur (for the love/belief in the project and the hope that they can make it go big). 4) Hire 2 people, not one.
Interesting. I am willing to do exactly this if more feedback comes in supporting it vs what I'm currently proposing. Thanks Tony.
I agree, for what it's worth. Fear is an essential component to the mix.
One thing I'd add -- building something people want isn't a silver bullet. Building something people want enough that there's value generated is. Mixing that up, which is way, way too often done on this site, is fatal.