At the early stage of building a startup, you're essentially on the hunt for co-founders. This means that many of the strategies found in the co-founding playbook are directly applicable. Tactics like leveraging communities such as Bookface from Y Combinator, attending relevant industry events, and actively networking within the tech ecosystem are all crucial ways to meet the right people and build strong founding teams.
At OSS Ventures, we made a significant investment in content from the very first day of the studio. Our goal was to establish clear brand awareness around our unique positioning. This early focus on content proved to be highly valuable and has delivered strong returns by differentiating us in the market and attracting the right talent and partners.
We’ve also done extensive work in refining our understanding of ideal founder profiles. Over time, we’ve found that second-time founders who have already experienced a modest exit are often the best fit. These individuals typically bring both humility and ambition—they’ve learned valuable lessons from their first ventures and are now aiming for a more substantial outcome.
When it comes to evaluating founder fit, we’ve learned that there is no foolproof, automated way to assess this with complete accuracy. Instead, we run a 12-week collaborative period where both the founders and our team work together closely. At the end of that period, we make a go or no-go decision. Historically, about 40% of the time we choose not to continue with a founder, and that ratio has remained fairly consistent over the years. This approach allows us to build strong, aligned partnerships while managing risk thoughtfully.
Last but not least, we do not pay founders. It is crucial as we want the entrepreunarial type and not wannabe entrepreneurs who are actually consultants in disguise and want to play the part rather than really launch something.
Please find below the document we send to all prospective founders. It includes contract, terms, and everything.