Startups with several founders have a greater chance of success. Successful entrepreneurs are rarely sole founders; however, they express ambition and collaborate with others to accomplish their objectives. Teams and alliances are more prevalent in companies and entrepreneurship than in any other field of existence since no one individual can encompass all facets of this thousand-faced form known as “company.”
One of the more common fields in which founders need assistance is technology. Numerous non-technical entrepreneurs excel in the industry by partnering with a successful technical team. Finding a technological co-founder is critical to your business’s future.
What is the Role of a Technical Co-Founder?
A technical co-founder is a corporate associate that helps you develop a product from the ground up – an entirely committed person who shares the same level of responsibility and effort that you do to produce a product that consumers would adore.
According to the First Round study, your company’s likelihood of reaching the market increases significantly when you have a co-founder. It is particularly true for entrepreneurs who lack technological expertise. Partners with technical knowledge and programming experience may help develop a product with a broad range of competitive features.
The following is a list of activities that a technical co-founder may perform:
- Overseeing and growing the technical team
- Formulating a product strategy
- Managing the MVP performance of the product
- Creating the project’s technology stack
The Indications that Arise the Need of Technical Co-Founder
Hiring a technical co-founder is advantageous. However, how can you recognize the moment and recognize that you want him/her? Here are four scenarios that indicate the need for a co-founder.
1. Lack of Tech Expertise
Technical co-founders will practically assist you in bringing the project to life. Assume you have a game-changing innovation that has the potential to revolutionize the future of technology. However, without a firm grasp of the technical execution, the concept is doomed to remain on paper.
A technically savvy and willing co-founder or a development firm will assist you in this endeavor. Thus, if you are inspired to create anything remarkable, you would almost certainly need a technical co-founder.
2. Requirement of a Long-Term Relationship
If you have a strategy in mind and need a squad to carry it together over time, committed teamwork is the way to go. This teamwork model enables you to collaborate alongside a group of knowledgeable individuals who are exclusively focused on your project. It is almost identical to an in-house squad but without the jobs, human resources, and social benefits headaches.
3. Validation of the Idea
Indeed, it all begins with an idea. Investing time and resources in a basic idea, on the other hand, is too dangerous for your company. The reality is that even the most fundamental ideas must be evaluated and checked.
4. Preparedness to Deal with Legal Issues
It is perhaps the most critical thing to remember. Co-founding a company entails more documentation and increased risks on all parties. When two founders form a company, equity becomes a critical problem. To have a significant voice on the board of directors, you must own most of the stock. You have the freedom to fire every employee of your company, including your technical co-founder, in this situation. If the spouse is aware of all legal threats, he or she will request that you sign additional contracts to protect their role in the business.
How Does a Technical Co-Founder Help Building a Technical Team?
Here are scale dimensions that all technological co-founders cater to ensure their technical team is productive.
Creating a technical team from scratch and then doubling its size every few quarters is a challenging process that requires a full-time commitment. There is no other way to spend your time. Growing your business is the fastest way to increase your team’s productivity exponentially, taking on increasingly ambitious projects and innovating faster than your competitors. The quicker you develop a scalable recruitment engine, the more possible it is to thrive as a team and as a leader.
2. Defining and Reiterating Cultural Values
Inside your organization, your tech team may have a significant subculture. Each team is distinct and places a particular premium on user development, graphic design, hacking, and data-driven decision-making. Your community can be characterized primarily by the habits that you reinforce and prevent. Establishing the team’s principles early on will help you make informed decisions and develop the procedures, strategies, and vocabulary that will shape your community. For instance, Inkling’s quality assurance has always been accomplished by robust test automation. Our largest program, Habitat, contains over 10,000 automatic checks.
3. Establishing Engineering Principles, Tools, and Procedures
Developed routines are difficult to break. Implementing team-wide practices such as code tests, code standards, and integration checking is exponentially better at three than it is at ten. The sooner you determine your requirements, the fewer individuals will be required to define them, and you will have less code to transfer. Once created, new hires can contribute to the reinforcement of your expectations rather than deviate from them. Provide straightforward rails for the team to follow from the start, ensuring that they write reliable, high-quality code. Each day that passes without these rules in effect adds to the amount of technical debt you’ll eventually have to repay.
4. Creating an Intellectual Property Approach
In the organization’s strategic leader, you’re supposed to understand the patent strategy and open source. You must recognize and preserve the technology’s distinctive and essential differentiators. If you favor or oppose the patent system as it currently operates, patents are a critical tool for your company. Similarly, it is crucial to consider the organization’s approach to open source use and contribution. Open-source software will help you from reinventing the wheel and also help you hire.
5. Act as a Thinking Partner in Business
Being a co-founder entails more than just your functional role; it involves running the whole enterprise. It is essential to consider as much market sense as possible to relate to business planning and serve as an excellent thinking leader to the co-founder(s). Understanding what a 4019 assessment is, how to interpret a balance sheet, and words such as ROAS, OPEX, and EBITDA would allow you to pay.
Traits of A Good Technical Co-Founder
There are five critical characteristics to include while searching for a co-founder.
1. Mutual Respect
Working with someone who has your vision and with whom you would be spending hours upon hours requires that you value them. The individual must reciprocate love for the individual, and the individual’s abilities against you must be mirrored. A cordial and healthy camaraderie is critical to the venture’s success. Even though you and your partner do not have the same ability sets, appreciating and complimenting one another’s abilities would ensure you succeed cohesively as a technical team.
2. Complementary Capabilities
Each entrepreneur will lack the skills necessary to develop and expand the company. You may be a techie but lack business planning experience, or you may be an innovator but lack the required marketing skills. As a result, it is essential to put on someone with complementary expertise to ensure a holistic squad. The trick is to bring on someone whose abilities complement your shortcomings and vice-versa.
3. Common Objectives and Visions
Alignment of the company’s priorities and visions is necessary for deciding the compatibility of a creator and a co-founder. Occasionally, they would have conflicting objectives for the startup, which will be damaging in the long term. For example, the creator might want to expand the business just enough to sell it, while the co-founder might want to concentrate on growing a bigger business and running it alone without needing to sell. It is in the startup’s best interest to hire someone who has the same long-term ambition to avoid further clashes.
4. The Flexibility of Learning, Changing and Adapting
Startups also encounter several unforeseeable obstacles. To deal with the crisis, the leader and co-founder can need to acquire new abilities, alter their mode of operation, or even take on new or separate tasks, depending on the circumstances. In times of crisis, a co-founder can be a shoulder to lean on and an equal partner in accepting accountability and acting to rectify the problem. Additionally, since the majority of startups are cash-strapped, recruiting a staff might not be a choice. As a result, the co-founder (and founder) must wear several hats and juggle multiple verticals of employment. Only anyone eager to learn, change, and expand with the business and share the founder’s passion will succeed in tandem!
5. Emotional Maturity and Vitality
Starting a business is not for the weak of heart. Extensive hours, prolonged stretches of tension, failures, and waiting periods are only the beginning. As a result, a co-founder with a healthy emotional maturity is essential. At times of difficulty, a leader needs to rely on someone who takes a pragmatic perspective who can identify and implement the best options, rather than being reactive to strain. Similarly, power is all that must be abundant! The physical and mental energy necessary to persevere during difficult periods, stick it out through sluggish times, and be inspired to evolve at all times is what any creator can strive for in a co-founder.
How to Connect with a Technical Co-Founder?
Certain company owners believe that locating a technical co-founder is straightforward. However, finding a person that would be entirely committed to the project is challenging. You can consider various considerations and develop a network of contacts to find the right fit. Find the following opportunities when looking for a technical co-founder:
1. Incubators and Accelerators
It is an excellent way to connect with like-minded individuals and partners for your booming startup. Although such obligations entail much work and resources (which entrepreneurs may not always have), this is an excellent opportunity to expand the company and develop personally. Y Combinator and 500 Startups are excellent venues for this.
It is an old-fashioned but effective method of attracting enthusiasts to your company. There is no such thing as so much networking. Additionally, it is straightforward. It will be beneficial if you use social networking platforms such as LinkedIn or Facebook. Indeed, a simple tweet seeking guidance or assistance will work well to engage you with people that can positively impact your product.
3. Theme-Based Hackathons and Conferences
Personal meetings are a time-honored yet efficient method of networking for others who share your values. It is a way to encounter other people and get to know them individually, which is critical when working alongside a technical co-founder.
4. University-Related Events
Additionally, these events have an opportunity to find a technical co-founder for your business. Students in computer science and related fields are always on the lookout for opportunities for career advancement. Top-rated colleges equip students with the necessary skills to operate on significant programs. Although young specialists lack deep market experience, they do possess greater zeal and loyalty. You may not need to sell them a substantial stake in your business; they will be content with the chance to add a good case to their portfolio.
Not only do each co-founder bring something new to the table, but they must also blend into the team culture. Though skills are essential, mindset is just as critical. Bear in mind that the personality varies somewhat on stage due to the differences in roles/expectations. For example, when the team is limited in the early stages, and you are the only one making decisions/flying alone, a solo approach is acceptable. But when the technical team becomes bigger in later stages, the opportunity to collaborate and resolve issues/contradictions freely and amicably becomes even more important. Build a technical team and leverage the potential of a technical co-founder for your business!
With Supersourcing, you can easily build an expert technical team to take your idea ahead. Reach out to us and share your requirements to get the right agency or individual expert developer.