So basically, my business partner and I are searching for a mobile app developer to join our team. The search is proving a little difficult due to the fact that we want the developer to come on board for an equal share of equity rather than cash payments. This is due to a limited budget.
We have a really unique idea that we feel will take the app market by storm,So its easier to build a team rather than keep sourcing developers. Plus wewant someone on board to ring the technical knowhow as neither myself nor business partner come from a development background. We have already created a full development brief and are well tuned to the type of technologies/platforms we hope to use.
Is there any advice one could offer with regards to finding a developer to match our requirements.
You are going to have a real problem talking any developer with the kind of expertise you want to join your project for a share in the equity instead of being paid - especially if you expect them to devote a good amount of time on the project.
Yes, unfortunately that notion will tend to meet with a lot of “heard it all before” skepticism. Maybe it’s worth looking into crowd funding first, so that you can test the idea on the market and get some $$$ to push it along.
Being a professional developer for more than 10 years, I receive similar proposals almost every month.
Of course, I never accept them. The problem is in the word “professional”. As Wikipedia says, it means “a person who earns their living from a specified activity”. Keywords are “earns their living”. Professionals work for money. That’s sad but true, you have to pay money if you want a professional to work for your project. “Equal share of equity” can serve as an additional motivation, but it cannot replace the salary completely.