Original projects come to the minds of entrepreneurs regularly. They come in different levels and scales but must be implemented. Unfortunately, Аrealizing a new venture can be challenging.
History knows many examples of lost ideas. They were not condemned by society or were not crushed by competitors. Projects simply turned out to be useless to anyone because of their technical gaps or irrelevance. Finally, every product on the market must be competitive.
There are plenty of examples of failed projects in IT. Seemingly promising, innovative ideas were unnecessary to anyone because of the inability to use them. It is almost impossible for a startup company to avoid technical issues. In such a situation, you will need the help of an experienced technical co-founder. We will talk about it further.
What is a Tech Co-Founder?
Before you start looking for a Tech Co-Founder, it is essential to understand that this is not just a technical specialist. It’s a real partner who can share the risks and responsibilities of the project. In addition, they can apply all their knowledge and experience to product development, help you monetize your idea, and search for investors.
Having decided on the need for such a partner, it is worth starting the search in the early stages of development: when you already have an idea and a business plan but need expert assistance to implement the project. Finding a Tech Co-Founder will take time and money, but it turns out to be a success factor for your startup. Remember that partnerships require close collaboration and trust, so choosing someone you’re willing to work with on a long-term basis is essential.
But the Tech Co-Founder isn’t just about selling the product itself. Often they take on the task of attracting new investors and act as an analytical or marketing department. To summarize briefly, Tech Co-Founder can help you with the following:
- Hiring employees
- Development of a business plan
- Development of the project itself
- Establishing a monetization system
The above mentioned is just the beginning. A technical co-founder can help you with various project development and implementation aspects. But another question arises – where should you start looking for such a partner?
No matter how naive it may seem from the outside, finding a reliable and efficient partner is challenging. The search will probably take a lot of time. The main thing is not to postpone this step for later because it is good to have a competent, experienced partner at an early stage. They will point out mistakes and offer best-suited solutions. Below, we’ll discuss when and where to look for a CTO.
When to Search for a Tech Co-Founder?
The basis of a startup has always been the idea. That is why it must be precisely formulated and worked out at the beginning. But after that comes a responsible and difficult stage: writing a business plan and finding partners. The sooner you can find a technical co-founder, the less chance you have to make a mistake in planning.
Surely, you can handle everything on your own. But there is a risk that you may not have enough experience or skills in areas you’re unfamiliar with. Hence, it’s best to coordinate all complex tasks with professionals. In a nutshell, , here are the most common cases of finding a co-founder:
- Your idea has potential, but you don’t know how to realize it
- Your capabilities are not enough to develop the product and monitor market conditions
- You do not have time to respond to feedback
The main thing to remember: our technical co-founder must have experience, real-life examples of successful projects, and a clear development plan. For instance, you need someone to outsource app development, and you’ve already found the right partner. Check their reputation, take a closer look at their decisions, etc. Always look for reliable co-founders! Below, we’ll talk about where you can find a reputable CTO.
Where to Find a Tech Co-Founder?
Let’s be honest. Finding a reliable partner is complex, and you often must look for them for over a month (or even a year). But suppose you systematize the search and know where to look for an expertise. In that case, the chances of finding a good partner will increase. Here are simple examples of “where to look for.”
Social networks and specialized resources
First, try writing a post to one of the social networks. Today, small companies often find partners and clients there. The most popular business platform is Linkedin. This social network was created specifically for companies. You will be able to find a partner and immediately acquire an interested audience – which will help you develop a startup
Do not forget about just popular sites:
Moreover, to maintain the social networks of a small startup, an SMM specialist is optional.
The Internet is full of resources where developers, designers, and business partners “sit.” It makes sense to register on some of them and try your luck. Of course, there is a big chance that they will not immediately pay attention to you.
Here are examples of popular web resources:
- CoFoundersLab – thanks to AI-search, you will be able to quickly find suitable partners.
- Founders nation – a platform where you can get acquainted with the portfolio and reviews of the co-founder.
- Angelist is a large community of startups that can help you find partners.
Startup companies can also get helpful advice and gain an audience on thematic services. But there are other things to pay attention to.
Incubators and accelerators
Finally, specific places to search for a co-founder should be noted. Startup accelerators will give you a chance to find partners and get assistance in idea development. It is there that newcomers begin their journey of becoming IT giants today. But there is also the other side of the coin. Sites like Y-combinator and 500 startups require much time and effort, which can be problematic.
If you already have a working plan, you may not need a technical co-founder. However, you may require help on a smaller scale in this case. We’ll talk about it later!
When It’s Better to Hire a CTO?
The technical side of a startup always requires a lot of time and effort; sometimes, they need more strength to implement the project and vice versa. On the other hand, you may already have a team of experienced programmers or competent marketing staff. In such conditions, spending money does not make sense. The best option is to find an experienced IT company.
It makes sense to hire a technical director if you already have specific processes in place and, in general, the startup is moving toward implementation. The most common situations in which you should contact the IT-provider:
- You clearly understand your business’s technical requirements and know what technologies you need to develop and support your product.
- You have a development team, but they need professional team leads.
- Your technical co-founder is not competent enough.
- You need an effective manager to manage significant investments.
- You need technical advice.
When hiring a CTO, look for someone with a proven track record of successful leadership in a technology company. In addition, you need someone who can provide technical expertise and align with your vision, values, and culture. Moreover, IT consulting rates are another crucial factor you should consider when you’re thinking of collaborating with an experienced CTO. There are many IT companies across the world that are ready to help you bring your idea to life. Take some time on research to find a trustworthy tech co-founder that will contribute to your project development.