This is the third part of four presentations I did to a course for young entrepreneurs. The slides are as brief as possible because they meant to give just the framework. The real content is pass verbally.
However, the main points to pay attention are:
- In many aspects, finding a great co-founder is like finding a partner for life. You should do your best to seek for someone you can trust and spend time with during circumstances that will be very challenging. The ‘honeymoon’ will pass quickly, so make sure it’s someone you want to have with you on a deserted island, because this is what ‘startup life’ will look like after few days. It’s important that your skills will complement each other. So if you are the technical person, you should find a partner that is strong in business, marketing, sales etc’.
- You should pick the initial team members by their resourcefulness and passion (or determination) to the mission of what you are trying to accomplish. A good way to look on the ‘founding team’ is for people that could have been co-founders if the timing was right. Another great way to look on these first hires as people that you would have feel comfortable to report to.
- Hire only when you desperate – So do everything first and only hire when there is no other option.
- Hire true experts. The difference between an ‘OK’ developer and a true expert is unbelievable. At the early stages, it’s critical to build an ‘A Team’ because these type of teams create ‘A companies’.