We're a 2 man startup. Im tech side, hes (business) side. I'm a full-time student, put in a good 20-30 hours per week (still!) while he says hes putting in around 10.. but its really closer to about 5 max he is doing.. not counting communication through email. He works full-time (closer to 50 hours a week) in corporate america.
I've been developing since September on this webapp.
Meanwhile, my partner has slowly been achieving anything on the business end. We have no formal contract, and we're splitting equity 50/50.
His latest solution to his role as the business side... when he was supposed to be developing connections for this business, doing some general marketing, and overall running the business side is to bring in another person to handle the marketing/business end while he just keeps his full-time job and the company's progress seems to coast along on the business end. Meanwhile, I've been developing nonstop in my free moments aside from school.
My questions are:
1) Is he just trying to sacrifice our company's potential because he doesnt have the time himself, but wants to dilute both of our salaries to bring in someone because he doesnt have enough time?
2) Are people generally who say their 'entrepreneurial' who have a full-time job ever the right choice as a business partner? - the reason I say this is, I know a few people who moonlighted businesses while working over f/t hours and now have a profitable business.
3) Is there any harm in just cutting out a business side in a new venture until its needed? What are the pros/cons of doing so?
I struggle to find reliable business partners who want to put in the sweat to form a successful business.