Finding a co-founder for your start-up is not likely going to be a walk in the park, and people who are able to find a likely fit early in the day know that this is no easy step. That having been said, it is not impossible to find the right talent to fill the position.
The following needs to be taken into consideration as you hunt for the co-founder of your dreams:
Step 1. The Candidate needs to be an Asset, not a Liability
Start-ups face a lot of challenges in the early days, and a worthy candidate for this position must come to the party, and be ready to hit the ground running. There is a need for the candidate to have areas of strength that will be complementary to yours and have vital resources to bring to the table.
Here, resources don’t have to be monetary but money is a good start but organizational ability or technical depth can bring a huge mileage to the start-up.
Remember that family members are hardly a good fit for startups as the challenges of the early days can be overwhelming in most cases.
It is preferred you work with a third party, an ex-colleague, a professional peer or anyone with whom you have previously collaborated.
Do not forget to match the requirements of the start-up with the traits or qualities they possess, in order to make a good pick.
Step 2. Reach out and Network
There are several ways to reach out these days and the Internet has made it a lot easier to get across to people of like minds or from a given sphere of influence. An online platform like LinkedIn offers a veritable ground for meeting a person of the description to suit the co-founder you want.
Do not be afraid to make your expectations known and the clearer they are, the easier it is to avoid candidates that don’t fit. You must not be under pressure to consider anyone who comes along.
Give yourself a time frame and create a shortlist of people who have the traits you require.
Steps 3. Join an Online Start up Hub
There are a couple of startup hubs online that you can join and be part of as you make your search for a co-founder for your start-up.
Sites like Start up Weekend, founder2Be, Startup Agents, etc., provide an opportunity for entrepreneurs to meet and exchange ideas.
Step 4. You can use a Recruiter
There are recruiters for an every niche on the earth and they have the structure to reach people of every description.
Discuss with a recruiter that is into your field and let him come up with a shortlist of possible candidates.
The advantage of working with professionals like this is that having stated what you want, they take the responsibility to head hunt or get the candidate for the position.
You can focus on your work or research and allow the professionals come up with a list of people that makes the cut. This is not to say that you should not scrutinize the shortlist when you are given. Remember this is your turf, and “he who wears the shoe, should know where it hurts."
Step 5. A New Environment
Some roles are better executed in certain environments and this is one thing to take to mind. The Silicon Valley is the hub for tech start-ups and aspiring founders.
Getting close to a location like this if you are into tech, means that you have a chance to rub and meet minds with people who fit into your career and professional paradigm.
You should not also forget that they say “when the crumbs drop; it is the dog close by that eats them up”. So, stay close to the epicenter of action, and you likely have a better chance of success around there.
Step 6. Make a Clear Definition of Roles
Early in the day is the best time to outline roles and functions for your start-up. As economics teaches, specialization helps to promote efficiency and this is crucial.
Let it be known what every person is responsible for and what the expectations are for every position. A job description is needed for the personnel in an organization in order for clear lines of responsibilities to be defined and it will be stated who reports to whom, and where one interface ends and another begins.
If definition of roles is not easy for you to do, get in touch with people who can help you through. If the finances are too lean to get a consultant for the exercise, use respected colleagues who have similar structures or organizational abilities to have this straightened out. If you have a mentor, you will do well to use his help.
Step 7. Agree on Major Milestones
Work with the candidate to define applicable milestones so you can have a template to work with. If you guys are unable to work together on this, then don’t expect it to happen at any other time. If it is not working out, try another candidate.
Milestones are important because they put you in a position to gauge the progress you are making and what steps you need to tweak for better results. The realist will consider adopting milestones that are not necessarily easy to attain but definitely realizable.
When your milestones are not coming to fruition, it gives you an opportunity to review your efforts and progress, and consider a change of direction if necessary. Never consider anything as hewn into the rock; it is better to scrap an unworkable idea instead of sinking with it.
Conclusion
Every candidate comes with his own amount of garbage and working with new hands mean you going to be exposed to the garbage they carry. So, make sure you do your homework on any likely candidate, whether referred by a recruiter or handpicked by your good self.
It is always better to know what to expect from a person and build on those metrics instead of exposing yourself to a sour element of surprise later on.
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