Founding partners: how to assemble a winning startup team.

• Author: Kinder, Peri
• Position: Startup Success

So you've invented the most ingenious and lucrative product since bottled water. Now what do you do?

You don't have any idea how to market the product, set up a business plan or manufacture your life-changing invention. Where do you find the people who can get your innovation off the ground? Will involving friends or family members doom your business before it's even started? Once you bring in team members, what is the best way to divvy up shares in the fledgling business?

We turned to a seasoned entrepreneur, a venture capitalist and an experienced financial guru to tackle these thorny questions.

Take it Slow

As the founder of several companies, including Doba and DropShip.com, Jeremy Hanks has spent the last dozen years assembling winning startup teams. He's now been through the building process enough times to know what works--and what doesn't.

The first piece of advice from Hanks: Don't rush into any partnership unless you've developed a long-term connection with that person. Instead of thinking about finding a co-founder, invest in relationships with like-minded people.

"Find yourself thinking, 'I can't do this by myself, and more importantly, I shouldn't do this by myself," Hanks says. "Often people are driven to partnerships through frustration. Instead, invest in relationships [even though] it might take years. There are no shortcuts. The relationship has to come first."

Hanks has recruited people he knew in high school, college, past jobs and business ventures to be involved with his startups. When he founded GearTrade, he worked solo for one year before contacting friends, eventually getting his college roommate involved.

"It was somewhat of an organic experience. It wasn't planned," he says. But that experience set the stage for future successful business opportunities Hanks created, and he followed the same pattern for finding energetic, focused and compatible people to work with.

Second, get off your chair and out of the office. Because it can take years to find the people you want to work with, get started as soon as possible and meet harmonious individuals. Get back into the mindset of college, where the associates you interacted with were all working toward the same goal. Meet as many people as you can and be sure you're not out there selling your dream--you're making friends.

Startup "dating" sites and events are very popular. But Hanks suggests that people be wary when getting involved with these "dating" experiences. Organizations like Founder Dating bring together entrepreneurs offering a variety of skill...