The technical co-founder dating dynamic
I get pitched by about a dozen or so founders per week. Inevitably, they are a lot of solo founders. Within that dynamic, they are almost always the business founder. Our answer, go find a technical co-founder and then let's talk. They always ask me where they can start to look for a co-founder. As a VC, outside of the business idea, the market size, etc., we always look at the team. In most cases this has been referred to as the "Hacker and the Hustler" dynamic. This is the main reason why so many great VC fundable ideas aren't successful.
Much like dating in your romantic life, it requires a lot of patience. Another dynamic is that many "hustler" founders are so focused on what they should loof for in a "hustler" founder that they forget to think about what they have to offer in the relationship. There is much advice on what to look for in a technical co-founder, but little about what the business founder should have accomplished. Before you can go off an find a technical co-founder, consider what traits you should have to be attractive to a fantastic technical co-founder. Here are a few thoughts.
When evaluating a potential business co-founder, I consider their experience, network, and personal qualities. Here's what I look for:
1. Business track record:
- Have I successfully run a business before?
- Do I have a deep understanding of the functional aspects of sales, marketing, finance, and operations?
- Have I demonstrated the ability to make tough decisions and navigate challenges?
2. Leadership and attracting talent:
- Have I been able to attract and retain high-quality employees in the past?
- Am I mission and vision-oriented enough to inspire others to join my startup?
- Do I have strong leadership skills and the ability to motivate and manage a team?
3. Fundraising experience:
- Have I raised money for a business before?
- Do I understand the fundraising process and what it takes to secure investments?
- Do I have connections with potential investors or know how to network and pitch effectively?
4. Ecosystem and network:
- Is my professional network extensive and diverse?
- Do I have established relationships with lawyers, consultants, other founders, and industry experts who can provide guidance and support?
- Can I leverage my network to help the business grow and succeed?
5. Long-term partnership potential:
- Why should a technical co-founder commit the next 5-10 years of their life to working with me?
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- Do I have self-awareness and emotional intelligence?
- Can I maintain a balanced approach, knowing when to be calm and when to be aggressive?
- Am I someone a technical co-founder can see themselves working with closely for an extended period?
6. Resourcefulness and problem-solving:
- Am I resourceful and able to find creative solutions when faced with limited budgets or resources?
- Can I provide support and guidance when the technical co-founder encounters challenges?
- Do I have a network of experts or resources I can tap into when needed?
7. Product development understanding:
- Do I have a balanced view of product development, understanding the trade-offs between velocity and reality?
- Can I distinguish between what is probable and what is possible within given constraints?
- Do I have experience working with technical teams and understanding the product development process?
8. Sales and hustle: It's called the "hustler" role for a reason
- Can I effectively sell the vision and the product to customers, investors, and potential hires?
- Do I have a track record of closing deals and generating revenue?
9. Domain:
- Am I an expert in the field in which we are solving a massive problem?
- Can I communicate it well to my technical co-founder and the broader market?
-Am a credible person in the domain? Published, thought leadership. etc?
The BEST way to attract an amazing technical co-founder is to become an amazing business co-founder. If you are having a hard time finding one, you may need to look at yourself. Like in personal relationships, the more you work on yourself the better partner you will be.
Managing Director @ Techstars WaterTech + Sustainability
10 个月Micha Cooper-Edwards a must read for you based on our recent call.
Co-Founder, CEO @ HVAKR (Techstars ‘24)
11 个月“Can I distinguish between what is probable and what is possible within given constraints?” is right out of Ray Dalio’s Principles. Very important. Few understand this.