I have been working on different startup ideas one-after-another for the past 10 years. Finally, I built an enterprise product with product-market fit. I spent one year building the product. After I acquired 2-3 customers, another person joined me. I was NOT looking for a cofounder, but he was looking for a job.
I respected his person very much. I had worked with him at the same non-profit for last 10+ years.
We started with 20% equity for his share and then reduced it to 15%.
This cofounder has been with me for last 12 months. We tried him at Sales, Customer success, operations, software testing but he does not seem to excel anywhere. Although he is close to 50 years old, he is not able to take ownership of anything.
We are a bootstrapped company. Our resources are scarce. I could pay him, or rather hire a part-time person for the same amount. I would prefer to hire a part-time person.
What are my options? I think I will be better off without him than with him. I think about him more being a drain on the business, rather than helping the business.