Founding a Startup – Finding a Co-Founder

January 27th, 2012 by admin





Founding a startup isn’t easy.  One of the keys is finding a cofounder to collaborate with.  As life challenges go, it’s as challenging and important as finding a spouse if you want to start a family.  If you’re studying up on how to found a company, and how to find a co-founder, you’ll run across the term “dating”  frequently.  As Elizabeth Knopf, Co-Founder of Sorced, writes about finding her partner:

Founding a company is a marriage. You need to make sure you are going to work well together, can communicate, balance one another, and bring out the best in the other person. This is more intuitive. After a few “dates”, do you click and does it feel right?

TechCrunch has a post from Eric Eldon writing about a group that’s focused on match making between startup founders.  This post includes many other venues working to bring founders together.  The focus of the article, however, is FounderDating.  Taking a hands on approach, they screen and connect folks looking to found companies.  Their current focus is creating meetups to get potential founders together to see if they will hit it off. Because of this very focused method of working, they’re currently centered in San Francisco, New York, and Seattle, according to their upcoming events.  Perhaps some day they’ll expand to create virtual meetups as well?

Another group addressing the niche of startup founders is CoFoundersLab.  Based in Maryland, they’re also working to bring cofounders together.  They’re focus is on-line match making.  If you’re not actively looking for a co-founder, you can add your information to the site and let others find you – excellent for those who are interested in finding a new opportunity, but aren’t able to search full-time.  Their focus is currently DC, Maryland, Virginia, Pennsylvania, and Vancouver, BC.

Do you have what it takes to be a founder?

November 1st, 2009 by admin





(Editor’s note: Serial entrepreneur Steve Blank is the author of Four Steps to the Epiphany. This column originally appeared on his blog.)

When my students ask me about whether they should be a founder or cofounder of a startup I ask them to take a walk around the block and ask themselves the following series of questions:monkey

  • Are you comfortable with chaos? (Startups are disorganized)
  • Are you comfortable with uncertainty? (Startups never go per plan)
  • Are you resilient? (At times you will fail – badly.  How quickly will you recover?)
  • Are you agile? (You may find the real opportunities for your company are somewhere else.  Can you recognize and capitalize on them?)
  • Are you creative? / Can you recognize patterns? (Can you think “out of the box?” Or if not, can you recognize patterns others miss?)
  • Are you Passionate (Is the company/product/customers the most important thing in your life? 24/7?)
  • Are you tenacious (Can you keep going when everyone else gives up? Can you keep giving 200 percent despite all the naysayers who don’t believe in your idea?)
  • Are you articulate? (Can you create a reality-distortion field and have others see and share your vision and passion?)

Even if they answer yes to every question, I remind them that they should be bringing some type of domain expertise (technical or business) to the table.

This is the minimum feature set for founders.

Generic advice given to entrepreneurs assumes that everyone is going to be the founder/co-founder. Yet for every founder there are 10-20 other employees who take the near-equivalent risks in joining an early-stage company.  If you’re not a founder (by choice, timing or temperament,) you may be an early employee or a later stage startup employee.

(And my advice to students who believe they want to do a startup but are unsure if they want to start one, is to join one that’s already raised their first round of funding. Founders know they want to start something.  If you’re unsure, you’ve just decided.)

I believe that founder, early and later stage employees each require different risk/personality profile.

The Early Employee

If you’re a founder/co-founder all the attributes I mentioned above are needed in spades.  However, if you want to join a startup as an early employee (say in the first batch of 25), you can modify the list above.

You still need to be comfortable with chaos and uncertainty, but by this time the major risk of where the first round of funding is coming from is gone.  However, you will be dealing with almost daily change, (new customer feedback/insights from a Customer Development process and technical roadblocks,) as the company searches for a repeatable and scalable business model. This means you still need to have a resilient personality, and be agile.

Early stage employees are “self-starters” and show initiative rather than waiting for other people to tell them what to do or how to do it. (You may be wearing multiple hats in one-day.) You have to be passionate about your work, the company and its mission to be working 24/7. But more than likely you don’t need to be as articulate or creative as the founders (they’re doing the talking, while you’re doing the work.)  And while you do need to be tenacious, you won’t need to be the last man standing if the ship goes down.

The Later Employee

If you want to join a startup as a later employee (say employee number 25-125, before the company is profitable) you can continue to modify the list above.

You still need to be comfortable with chaos and uncertainty.  And you will be dealing with change, but it won’t be the constant daily change the early employees dealt with. By now the company may have found and settled on a repeatable business model. And at this stage of the company rather than everyone doing everything, actual departments may begin to form. However, job responsibilities and organizations will change regularly and you need to feel comfortable in embracing those changes and taking responsibility and ownership.

And you’ll still need to have a resilient and agile personality, as new customer and product opportunities will appear and change your work.  But it won’t be happening daily.  And while you still need to love what you do your passion doesn’t have to extend to tattooing the company’s logo on your arm.

Take the time and think through who you are and what level of challenge you are looking for.

You’re not joining a big company.  Startups are the adventure of a lifetime – but make sure it fits who you are.

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Should Startups Compromise When Hiring?

June 22nd, 2009 by sfredrick





Dharmesh Shah shared some thoughtful insights recently on “Why Startups Should ALWAYS Compromise When Hiring.”  It’s true that any new hire brings a balance of skills, traits, experience, and relationships.  Finding the right balance (or compromise) is the key, and this needs to be done in the context of both the specific job and the broader organization.  For a team to be more effective than the sum of its parts, there must be a constructive mix of different experiences, complimentary skill sets, industry relationships, ages, and personality types.  The requirements matrix for any one job may contain binary criteria like cultural fit, passion, intelligence, integrity, etc.  The subjective criteria will vary by position with ‘relevant experience’ being high on the list, especially for more senior roles.

Time is a scarce resource at emerging growth companies and speed is critical to success – speed to market, the agility to change direction on the fly, and the ability to iterate faster than the incumbents.  To quote Rupert Murdoch, “The world is changing very fast.  Big will not beat small anymore.  It will be the fast beating the slow.” The implication for startup hiring is that there is little to no time available for on-the-job training nor room for the rookie mistakes.  Good ideas and ripe markets get competitive very fast … thanks partly to the flood of venture dollars (but that’s another story.)  While every hiring need will have its own prioritized criteria, relevant experience will invariably rank towards the top of the list.  Experience is not surprisingly well correlated to relationships … and the right relationships provide tremendous leverage and the ability to move that much faster.

From OnStartups by Dharmesh Shah

Startups should hire the best people possible.  But, if you re-read the title, you’ll notice that I’m saying you should always compromise.  Why?  Because there’s no such thing as the absolutely perfect hire along every possible dimension.  If you recruit people that you think were a “no-compromise” hire, you’re deluding yourself with unrealistic expectations.  Nobody’s perfect (and if they are, you probably couldn’t recruit or afford them anyways).

Everyone you bring on is a compromise.  The trick is to compromise on the right things.

Let me explain.  Here are several different attributes or “dimensions of awesomeness” you might seek for your startup recruit:

1.  Passion:  Are they fired-up?

2.  Experience:  Have they done this particular job before?  Did they succeed at it?

3.  Intelligence:  Are they smart?

4.  Academics:  Do they have the right degree?  From the right place?

5.  Hunger:  Are they motivated?  Are they ambitious?

6.  Risk-Tolerance: Can they share the risk?  Or, are they looking to make fair market value?

7.  Scrappiness: Can they get by with little?  Are they resourceful?

8.  Loyalty: Can you get them to commit to your cause?  Will they be fiercely loyal?

Those are just a few I thought of off the top of my head.  It’s by no means a complete list.  I intentionally left out things like “integrity”, because it’s hard to argue in favor of compromising on integrity.  That’s just plain stupid.

But just about all of the attributes listed above could be compromised a little in exchange for something else.  For example, if you were somehow able to grade a recruit along all these dimensions, you might find that someone scores “average” in the academics dimension – but is off-the-charts smart (happens all the time).  So, you might decide that it’s OK for them not to have an ivy league degree.  Or, someone might be so smart, passionate and entrepreneurial – but lacking in experience.  Perhaps that’s OK too.  Or, maybe you really do have to have the absolutely perfect person along every possible dimension, but they’re so good, you’re just not sure you’re going to be able to keep them engaged.  Perhaps you’ll have to compromise on the loyalty front.

The point is, like with just about everything related to startups (and lots of things in life), there are tradeoffs.  You need to figure out which dimensions are absolutely critical (where you will not give), and which ones you’re willing to compromise a little on.  There’s no right answer – it depends on your business, your culture, your values and your instincts.

© 2012, StartUpHire LLC