I have found a potential team, but...

Find a small project (1-2 wks of work) you can work on together and make it clear that it is a trial process to see how you will all work together; something other than your startup (for possible legal reasons in the future). If any of them are unwilling to do this, that should be your first signal that that person isn't right for you.

Also since they came up to you after the presentation of the idea I would definitely make sure they know that whatever you are doing isn't the "one true idea" as it stands now, since it is likely to change significantly as you continue to work on it.

The "just go for it" is advice lite and I wouldn't take it, at least not for choosing your team, which is likely far more important than your idea.

Eat with them every day for a week. You will find out a lot about each other.

> ...because I know emotions can fog up the intellect and really mess up your decisions.

Is there a particular emotion that's giving you trouble? I wouldn't distrust all of them...

I think you are over thinking this.

Sit back, don't put in a bunch of cash. Don't let anyone go in over $1,000(two semesters of books), and you should just ride it out.

In all likelihood you will not succeed, but do not take that as a reason not to give it a try. I learned so much from my college projects that sounded very similar to your situation.

And last of all remember that if you were able to come up with one good idea, there will be more, you are young and have decades of life in front of you.

Get out there and run full speed with this team, do the best you can to make a go of it, and you might find your self succeeding. But, if things do not go as planned, chalk it up to just another life lesson, and try again some time.

Entrepreneurship is an adventure! You're young yet, give it a shot, and you'll learn a lot. You're team may not be superstars, but if they have the drive to see the project through, and can bring your idea to fruition, it's worth pursuing.

If you feel your idea is a truly radical innovation, and you're willing to give your heart and soul for it, then it might be worth seeking out an ideal team. However, given what you've said, it sounds like you've made this decision on a whim. I'd say, go for it if it feels right.

The founding team, like any business partnership is like a marriage. Both are social-economic institutions. Both need chemistry to succeed. Both are really messy and messy when it comes time for the breakup. The child custody fight and the division of the assets may not always be equitable.

Or, the team might do well together, the startup fail, and everyone parts as friends.

There's lots of good suggestions here, and Paul Graham has written a number of insightful essays on the YC library and on his site.

The misgivings might be a simply one of, "Well, if my project is so great ... shouldn't I be more picky about who I want to work with?" It might be some instinct tipping you off. Whatever the case, you'll have to look at both the strategic advantage for you and all the human motivations involved (including your's).

Sorry I couldn't be more specific.

Has there ever been a successful business that came about by a guy thinking up a most excellent idea in entrepreneurship class (???) then carefully selecting the proper co-founders and continuing to make ideal decisions until success?

In most stories I've heard or read about successful businesses, the pattern was more like, a bunch of freaks got together, massively screwed up half the time, made a few lucky moves, and kept persevering until eventual success.

I guess what I'm trying to say... is... this seems like the wrong attitude:

"I don't want to jump into this on a high of excitement with people that perhaps might not be fit for it."

If the people aren't a good fit, just dump them and move on. Look at Zuckerburg with Facebook. He worked on Facebook-like ideas three times with various groups of uncommitted people until he finally got it right.

First ask yourself how do you know that you have the strength to endure a startup, then ask your potential co-founders some questions (maybe the same questions that appeared in the YC application form).

Other fact that you may consider is that you know them since a couple of days ago.

On another note, you need to find any EXPERIENCED entrepreneur you can to start building your network. I have learned so much from my network that I think I would have just kept failing with out them.

Every entrepreneur I have meet is available for lunch or dinner once or twice.

You're business school might know some local entrepreneur's and might be willing to make an introduction. There are also local professional groups that should have networking events for you to meet other local entrepreneurs.

And, finally just have fun, entrepreneurs can be found just about anywhere, the race track, your local movie festival, Great America, and even you're local bartender.

You've set out the requirements you want in your cofounders - smart - talented - a strong personality (perhaps you mean fortitude)

Ask them to tell you stories about themselves that exemplify these traits.

Asking and listening (imo) will not give you accurate reflections of their true traits. Test them like any other investor would test you for fund-worthiness.

Find out what else they've done to demonstrate they are entrepreneur material. Do a short trial project or two. Pay close attention to how they react to different circumstances during the projects. Challenge their ideas and see how they respond. Ask yourself if you could really work well with them, and if they really improve the odds of success enough to merit becoming a significant shareholder.

Here's the question: is the idea so good, that you'll never have another idea that good? Is this billions and billions of dollars material?

If it is, tell them you want to do another project with them for the class and see how you work together -- if all goes well, then you can work on the first, more exciting project.

If it isn't -- it's just a good idea -- then hang out with them for a bit, work with them on a small project, and go for it for the class. If it breaks up, it was a good experience.

i would go for it. if it doesn't work out, then still, it will be a good experience. risks, i think is a part of entrepreneurship

I'm in a similar situation in that after going it alone for a while I'm now looking for cofounders.

Since I haven't succeeded (yet), I don't have a lot of good advice, save this: it's okay to fail, just don't fail the same way twice. From what I've been reading, most startups simply crawl away and die anyway. So the only risk you're looking at is 1) your startup is successful, and 2) the cofounder doesn't work out. Seems like that is a bit of a long-shot.

I'm not saying the selection doesn't matter -- I think it's the critical factor. What I am saying is that you should learn what makes a good cofounder for you, and that's something you might have to iterate on a bit. Don't sit in indecision wondering what the perfect choice is.

That's my plan, for what it's worth.

Just do it. You'll know what you've got, one way of the other, soon enough. Where will you be if you don't do it?

find something you disagree with some of them about, and then resolve your disagreement.