Is it a good idea to find a co-founder with good business orientation?
I am a tech person and have been longing to create a startup but don't have enough skills in making business plans.
Do you think is it a good idea to find a co-founder? Someone with orientation to business?
2 Answers
It is not only a good idea, IT IS A MUST.
If you don't have required competence(s) - and here it is a case - you have two options: you learn it or you find someone who can do it (or externally or you hire someone as employee or you find a partner).
And I must say that often, for a tech person start learning the "business part" of the activity can be hard. It takes time and you have to have some affinity with it (not every business person can become good programmer neither).
So the solution is, the most often, a synergy between one or more tech persons and one or more business persons.
Concentrate on what you can do the best and find someone who can do the best for the business part. I assume you preffer spending time on programming your app instead of on making researches about the documents you need for a setup of a company and/or accounting obligations...
There are lot of forums on the web to interconnect business and tech people. Just google it out...
Good luck!
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Funny that the reverse scenario isn't widely adopted. "Everyone should learn to code" is touted often as if coding is as easy as changing a printer cartridge. – Jim Galley 10 years ago
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I agree jimg. Interesting subject of discussion/reflection. IMHO the problem is that (too often) the "tech guy" is considered as the one who really do "something" and the "business guy" is considered as "the 2nd" or "the one who wants take benefit from the tech guy". People forget that both are equally important. In my opinion, everybody should bring the best he can. And often, intelligent people have difficulties to delegate and to trust the others. And that's a very bad habit (unfortunately often justified)... – Data Smarter 10 years ago
Only if you plan to make a business of whatever technical product(s) you are creating. That is to say, to try to generate revenue from it. If you don't want to put it in the market place with the idea of making a profit, consider your activity a hobby.
But, assuming you do want to start a company. The first step is to have a reasonable idea of if there is any money to be made. If the answer to that is "yes", the basic legalities and accounting matters aren't all that difficult. And it doesn't have to start out complicated - just correct. If the answer is no, then there is nothing to worry about, anyway.
