It happens all the time. I have been involved in such businesses, and there are public examples[1].
Entrepreneurs who don't code do not need technical co-founders. There are plenty of talented firms and solo developers with product management chops who will collaborate with you to build a product. The entrepreneur pays a fair rate and the service provider delivers a solid foundation on which to pursue the business.
Many if not most of the folks looking to jump into bed with a technical co-founder they have no existing relationship with are doing so because they don't have adequate capital. Undercapitalization is one of the top reasons new businesses fail, so most equity-only/deferred comp. technical co-founder opportunities are unattractive from the start.
I wouldn't like to be a solo founder because it's too much work and stress for one person. I've had this idea for a mobile app (it's a social network game - littlequest.me) for about 2 years now but still haven't done it because I don't have the right co-founder. Mostly because my network is too dispersed I think.
I do have a couple friends with no experience with building mobile apps interested though. Do you think I should team up with them or hire a professional? I really don't like the idea of doing a business by myself though.
Always enjoy reading your posts 7Figures. I'm in this exact situation, and decided to go the agency route for the same reasons Alex did for Groove. It's hard in some occupations to have technical friends in your circle, creating some distance between the people who have the domain expertise and the people with the skills to execute on ideas. It's nice to see alternatives. It's worth mentioning also that developing Groove with the agency costed $300k.
Entrepreneurs who don't code do not need technical co-founders. There are plenty of talented firms and solo developers with product management chops who will collaborate with you to build a product. The entrepreneur pays a fair rate and the service provider delivers a solid foundation on which to pursue the business.
Many if not most of the folks looking to jump into bed with a technical co-founder they have no existing relationship with are doing so because they don't have adequate capital. Undercapitalization is one of the top reasons new businesses fail, so most equity-only/deferred comp. technical co-founder opportunities are unattractive from the start.
[1] http://www.groovehq.com/blog/technical-co-founder