I'm getting involved in a venture with my business partner where we're starting to make decision as to where we'll base the startup, and it's looking like I may have to move to another city for the best interest of the company, however I'm in a personal relationship with a life partner which may not be able to move with me. Discussions with my business partner are leading towards: "We'll have to seek funding from VC's who are willing to increase your salary to accommodate for your back and forth travel needs." Is this possible? Or is my business partner dreaming of such outcome to become reality for the situation? If such accommodations can be made by investors, by how much are they willing to increase salaries?
You didn't provide much information about your startup. This I think is critical to properly answer this question. Be analytical however. Put yourself in the investors position and determine with each investor if they would entertain that idea, as you put it. If not, don't risk losing their investment altogether and just avoid asking for personal investment. After all this is your troubles not his/hers, if the investor joins chances are is because they like you and your business potential. Once you have them your commuting can be accepted as far as the burden it might put on your business growth and attention. But as far as financing, I would say that if you find one, you're luck is better than those who win the lottery.
As an investor myself, and entrepreneur, I find to difficult to justify how commuting or relocating a startup is good for business. If you absolutely have to though, your goal is to focus on pitching that value... The relocation. Once that value is sold to the investor the obvious "I'll have to move and thus need basic living expenses covered" becomes an easy natural sell to an investor who likes your original idea and understands the value need for relocating.
Work around the personal needs with driving home the value of relocating the startup and paying full attention to it once is moved. :)
Have a great journey, keep us posted!
Email me at email@example.com to let me know it goes, is always exiting and great learning exp. to see what works with investors and pitches look like.
Answered 7 years ago