By Ismet Balihodzic
Choosing someone to start a business with is a lot like choosing who you want to marry. You’re going to spend countless hours together and there will often be disagreements, but ultimately you know that you are both working toward a common goal — whether that is a successful business venture or a happy marriage. And if you need a technical co-founder?
If you’re building a tech startup and you don’t know how to code, you’ll need to find the elusive technical cofounder who can partner with you to bring your product idea to fruition. These days, finding a technical cofounder seems to be the equivalent to finding the Holy Grail. Every entrepreneur with an idea proclaims she could be starting the next Facebook if only she could find a technical cofounder?
But with demand for technical talent at an all time high, your startup doesn’t stand much of a chance of finding a first-class technical co-founder. Instead, you need to focus on attracting one.
The first step is getting into the right mindset: Stop right now with thinking you have the best idea and that this is all it takes. You may very well have the next game-changing idea, but that’s missing the point. A technical co-founder wants to build your company with you, not for you. So you need to show prospective co-founders more than simply an idea, and you need to make them feel like they will be part of that idea, not just working for you.
So, before jumping into business together, you should check some essential qualities in your future cofounder:
- Complementary skills – The most common response we received from co-founders was to look for complementary skill sets in your business partner. You should look for someone whose strengths balance our your weaknesses, and vice versa.
- Mutual respect – You should choose someone whom you respect, and someone whom you think is equally as intelligent and hard-working as you.
- Alignment of Mission and Passion – It’s obviously important for both co-founders to be invested in the company, but making sure your goals are aligned is essential. You should also ensure that you both are on the same page regarding the future of the company.
And finally, it is essential to find a co-founder you trust unconditionally — someone who will take the pitfalls in stride and adjust gracefully.
Remember, you need to treat a technical co-founder like a true partner, not just the person who will write your code. The key to attracting talent is to show real, tangible progress and commitment.
Business owners can perform a variety of tasks on the smartphones when they’re away from the office. From Financial Management to Customer Support, what are the most useful MOBILE APPS for a manager? Take a look! Ismet Balihodzic @IsmetBalihodzic
By Ismet Balihodzic
Are you wondering when is the right moment to quit your day job and become a full-time entrepreneur? A lot of entrepreneurs start pursuing a venture on weekends and in the evening. Think about the most important service provider startup and home-based crafters whose products’ line catch on and develop a following large enough to justify their full-time attention. Others take the plunge directly into full-time entrepreneurship because they can’t afford to be distracted by a day job and need to demonstrate their commitment to their business concept.
Experts are divided on this point, but the majority says that you should test everything before the launch of the company. So, allow yourself the space to plan, do, and review while you still have full-time employment. However, because of passion and commitment, some employees choose to leave the firm employing them in order to start their own business as the means to develop their own ideas.
One of many examples of people who have left their job to peruse an idea is Jeff Bezos. He quit his well-paying job for a New York City hedge found to follow his e-commerce project. Today, Jeffrey Preston Bezos is the President and the Chief Executive Officer of Amazon.com, a company that is playing a key role in the growth of e-commerce. Under his guidance, Amazon.com became the largest retailer in the World Wide Web and the model for Internet sales.
Sometimes ignorance is really a bliss
Deciding what is the ‘right time’ to start is difficult, but once you have analyzed the situation, studied all the consequences, and really believe in your idea you should have the courage to take risks! Even if you feel too green to jump right in and start.
- When you’re starting up, ignorance makes you more creative, unique, and effective
- When you go into something new without lots of knowledge about who was there before, you aren’t held back by the way it was approached before
This opens you up to greater possibilities so you’re more willing to take bigger risks, with bigger rewards.
Finally, according to Richard Branson, every entrepreneur needs to have a few lucky breaks to start a successful company. To create a business you’ve got to work day and night, weekends and holidays. It’s hard work. But lots of people do that and don’t succeed. So, those who have succeeded, do need to thank their lucky stars for the breakthroughs that got them to the top. But remember, don’t underestimate the importance of preparation and persistence.
“Ambition is the path to success, persistence is the vehicle you arrive in.” – William Eardley IV