Startups are the talk of the town at the moment. With the growing economy in Bangladesh, the scenario is very opportune for entrepreneurial minds.
However, we tend to focus on the projects that succeed as examples of startups. And as a result, many projects that fail miss our attention. And this deprives us of learning the possible drawbacks in a startup project; principal among which is a lack of suitable partners and co-founders.
A startup, especially one related to technology, requires all hands on board. And many hands at that. You’re going to need a combination of people equipped with a variety of skills. Let’s take a look at how (and whom) to assemble.
Us and them
Firstly, a business idea can feel lucrative to like-minded people. This is usually a good thing, but can also be quite the opposite. While choosing a co-founder for any startup, one should involve individuals with complementary characteristics and interests. Too many of a kind might leave weaknesses elsewhere.
Before looking for people to bring onboard, analyze what you bring to the table.
Where to look
It’s important to be very specific while looking for personnel. If you need an experienced, professional individual who can take care of the technological side of things, specify a position such as the CTO and the responsibilities and requirements involved.
The first place one should look is one’s own personal network. There are many ready, able and willing individuals looking for the right project; and they might be closer than you think. Look for referrals to individuals within your own social groups and discuss the prospects of the project with them.
There are several virtual meeting places for individuals to link up and go for entrepreneurial projects. COFoundersLab, Founders Nation, YouNoodle are among the most reputable. The advantage of these mediums is that you can assess qualifications and match up to requirements to individuals in a specific and fast-paced manner.
In addition, look at job listing boards and local university seminars. These places are often frequented by interested individuals who might find your prospects exciting.
It’s important to have specific goals and matrices for your project in place. It helps determine the parameters of founder duties. It also helps communicate the fact that you are seriously invested in your project. This might positively affect the recruitment process. Lastly, it is of paramount weight to take your time with this. A startup can be a very delicate project and might be what you end up doing for the rest of your life. So take care in picking whomever you do it with.