Being a first-time founder, you have a lot to prove yourself and many pitfalls to navigate. While developing your product and securing funding, you also need to build your team. And you shouldn't wait. You don't necessarily need money to build a team, but often times, you need a team to get investment.
If you love science and technology, do you also love meeting strangers, begging for money, running operations, and selling to clients? Is it your passion to do all of the above? Do you have expertise in all areas? Do you want to spend years accumulating experience before scaling your company? If the answers are no, you need a team.
The team can take different forms: cofounders, early hires, consultants, advisors, and future board members. The point is to bring on people who complement your expertise and skills and build credibility with investors.
If you are still working alone, ask yourself why. Are you waiting for the next product milestone, the first investment, the right moment to talk to people — or are these just excuses to procrastinate? Are you reluctant to give a piece of the company to cofounders or early employees? It's your idea and your company. You started it all. But remember: 100% of zero is still zero.
As an investor, I need to see that you have a team that can not only develop the product but also understand the market, navigate the regulatory pathway, and raise capital. If you want to see your medicine or device reach patients, you need more than technical brilliance. Be generous to people, invite them along the journey, and treat them as partners.