The best companies have co-founders that will sacrifice pay because they believe in the mission of the company. This is the true answer -- you need to first test your vision by selling co-founders to join you. That really is the litmus test to see if you have a compelling vision, and someone who is truly of co-founder potential.
As you know, if you tell an investor, if you fund us, the team will join, it's damning because it signals that the vision of the company alone is not enough to get the co-founder to join.
And so, ideally, you bring on a co-founder, on a vesting equity schedule. You should be able to explore fundraising potential in as little as 3 months and so that co-founder really should have a signal on the viability of the business from a fundraising basis based on the team in 12 weeks.
This is the truth. If you can't do that, here are alternatives:
* Figure out the minimal cash needs of a founding team member. Give them options between equity and cash, but make the tradeoff significant for taking cash. Raise a small angel round to support a team for 6 months, and bring on founding employees. You can do this normally with a $250K raise based on you / your background / your traction. Once on board immediately focus on fundraising based on the team and aim to get that closed in 12 weeks.
* Bring on a technical or business advisory board of equity-comp'd only star talent. The goal with the advisor is to task them with a project to see if they execute and you like them. If they do, when you meet with them (say every other week), you should also be selling them on how great the company is doing, and then by the 3rd meeting, tell them you are looking to bring someone onto the team and see if they want to join.
* If you can pre-sell a customer on a vision, that sale can bring on team members to fulfill it who you can parlay into founding employees.
* If someone needs to make cash but is truly committed, you can have them work a side job and have a story for the VC who will diligence. Valid stories can be for Visa or Family issues they need to make an income, but they are fully committed to the company and working 30 hours per week, etc., on the side for the company.
* Execute. If you have compelling sales, the team will still be relevant, but less so b/c you will have evidenced the ability to get things done.
There is not an easy answer here, but really just focus on raising based on what you have, then bring on whatever resources you can and raise further.