360° Coverage : How To Find A Co-Founder For Your Startup

2 Updates

How To Find A Co-Founder For Your Startup

Mar 5 2014, 1:24pm CST | by

Often times, a startup entrepreneur has a good business idea, but doesn’t know how to build the product. Or, the entrepreneur has deep technology skills, but is lacking in business skills.  In many...

Filed under: news

 
 
 

25 weeks ago

How To Find A Co-Founder For Your Startup

Mar 5 2014, 1:24pm CST | by

Often times, a startup entrepreneur has a good business idea, but doesn’t know how to build the product. Or, the entrepreneur has deep technology skills, but is lacking in business skills.  In many cases, these entrepreneurs are on the hunt for co-founders to help them build their businesses.  The problem is, they often don’t know how to start the process or where best to look.  Hopefully, this post will point you in the right direction.

The first thing you need to do is scope your needs.  Make sure you are perfectly clear on what skillsets will be most needed for the success of the business, and best fill a hole in your own resume and desired management team.  I previously talked about the various roles and responsibilities within a startup’s management team, so figure out what role your desired co-founder can fill.  For example, you don’t need five technologists in the senior team, all bringing the same skillsets.  Marry technology skills with marketing or sales or operating skills for an effective blending of complementary skillsets.

Once the role is identified, now you need to find the right type of person to fill that role.  I previously talked about how VC’s define a backable management team.  It is those kind of attributes that make an ideal candidate, especially if you plan on raising outside capital.  Things like the candidate’s past-startup experience, industry expertise, intelligence, credibility, passion/energy, communication skills, personality fit, etc. should all be considered.

Now that we know “what” we need and “who” we need, we need to know “where” to find them.  To me, everything starts with my personal network.  Who do I know has a rolodex of people that could fit this role?  Somebody that I trust who can personally vouch for this person.  This would include people in your desired industry, people with the desired skillset or other people in the startup ecosystem (e.g., recruiters, venture capitalists, lawyers, accountants, consultants, entrepreneurs) who may know of logical candidates for your pursue.

If you don’t know anyone in your own personal network (1st degree connections), try to find the same type of people in your 2nd degree connections.  Hopefully, someone you know can make an introduction for you, and help vouch for you and your idea with the 2nd degree connection, in order to get them to trust you and invest their time in helping you.

If your connections do not work, you have no choice but to find a stranger as a co-founder.  You can find them on startup networking websites (like BuiltInChicago.org).  You can find them at startup networking events (like Technori Pitch or Techweek).  You can find them walking the halls of shared startup co-working facilities (like 1871 or TechNexus).  There are even websites and events specifically designed around matchmaking co-founders for startups (like Startup Weekend, TechCofounder, CofoundersLab and Founder2Be).

The last category to consider looking for a co-founder is to hire a recruiter or place a job posting on the logical job boards.  Websites like LinkedIn, Monster.com, CareerBuilder or CraigsList.  Or, better yet, niche job boards, like Dice for technical hires, as an example.  And, remember, in addition to soliciting inbound resumes from sites like these, try to cherry pick logical candidates by directly reaching out to them.  For example, if you are building a travel website and need a strong digital marketer, try to identify logical candidates from Expedia, Orbitz or Priceline via LinkedIn.  Perhaps they are bored in their current role, looking for a new project to excite them.  Or, they may know people who are looking.

But, as you should when making any new hire, make sure you have thoroughly done your homework on a candidate before “jumping in bed” with them.

George Deeb is a Partner at Red Rocket Ventures, a startup consulting firm, and author of 101 Startup Lessons-An Entrepreneur’s Handbook.  For future posts from George, please follow him here or on Twitter at @georgedeeb or @redrocketvc.

Source: Forbes Business

 
Update
2

2 days ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the wo ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

3 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH3 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Now, 'electronic nose' to detect diarrhoea
London, Sep 1 (IANS) In what could lead to faster diagnosis of diarrhoea and stomach cramps, researchers have developed an "electronic nose" that can sniff the highly infectious bacteria that causes these diseases.
 
 
Japan has committed $35-bn investment in India: Modi
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday signalled a new era of ties with Japan and welcomed the commitment made by his host and Japanese counterpart Shinzo Abe to invest $35 billion in India over the next five years.
 
 
New blood test to reliably detect TB
London, Sep 1 (IANS) A new blood test has been developed to provide a fast and accurate tool to diagnose tuberculosis in children.
 
 
Japan announces 3.5 trillion yen investment to India
Tokyo, Sep 1 (IANS) Japan Monday announced public-private investment of 3.5 trillion yen (Rs.2.03 trillion) in India.
 
 
 

Latest from the Network

IS committing crimes against humanity in Iraq: UN
Geneva, Sep 1 (IANS/EFE) Violence carried out by militants of the Islamic State (IS) Sunni extremist organisation in Iraq, including murders, executions, abduction, sexual violence and torture, amount to crimes against...
Read more on Politics Balla
 
Iran vows to free Al-Aqsa mosque from Israel
Tehran, Sep 1 (IANS) Iran's President Hassan Rouhani Monday vowed to liberate the Al-Aqsa mosque in the old city of Jerusalem from the Israeli forces and spare no efforts to help the Palestinian people, state-owned...
Read more on Politics Balla
 
200,000 Indians granted Saudi visas in one month
Riyadh, Sep 1 (IANS) More than 200,000 Indians, mostly domestic helpers and labourers, were granted visas by Saudi authorities in one month, an official said Monday. "Since we resumed bringing in Indian workers at the...
Read more on Politics Balla
 
Number of SAARC regional centres to be slashed
Kathmandu, Sep 1 (IANS) SAARC member states have agreed to bring down the number of the association's regional centres from 11 to five in order to end the duplication of work and to reduce expenditure. A meeting of...
Read more on Politics Balla
 
Now, 'electronic nose' to detect diarrhoea
London, Sep 1 (IANS) In what could lead to faster diagnosis of diarrhoea and stomach cramps, researchers have developed an "electronic nose" that can sniff the highly infectious bacteria that causes these diseases....
Read more on Business Balla
 
Japan has committed $35-bn investment in India: Modi
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday signalled a new era of ties with Japan and welcomed the commitment made by his host and Japanese counterpart Shinzo Abe to invest $35 billion in India over the...
Read more on Politics Balla
 
Indian in UAE unable to pay bills, hospital says go home
Abu Dhabi, Sep 1 (IANS) An uninsured Indian man has run up more than $160,000 in medical bills after he suffered a brain haemorrhage and spent about six months in an Abu Dhabi hospital, a media report said. The...
Read more on Politics Balla
 
Abe wants 'special strategic' ties with India
Tokyo, Sep 1 (IANS) Japanese Prime Minister Shinzo Abe Monday said ties with India should be elevated to a "special strategic partnership". "We have to fundamentally improve our ties in every field to elevate our...
Read more on Politics Balla
 
New blood test to reliably detect TB
London, Sep 1 (IANS) A new blood test has been developed to provide a fast and accurate tool to diagnose tuberculosis in children. About one million children develop tuberculosis (TB) globally each year but detecting...
Read more on Business Balla
 
Talks on for civil nuclear deal with Japan: Modi
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday said negotiations were on for a civil nuclear agreement with Japan, indicating that the deal is not likely to be sealed during his ongoing five-day visit to the...
Read more on Politics Balla