You can fuel the great idea that you have when you choose to partner with a technical co-founder. Since they will have a good understanding of the technical aspects, they will take things forward. And if you are planning to get some funding, it is essential for you to find a technical founder to work with your team immediately.
When you have a technical founder, you are going to achieve two main things: one, you will have someone on the team who can build your idea. And, two, in the initial stage of your company, you do not have to search for an investor to kick-start or run your company.
While this way seems to be promising, it is not that easy to achieve. You have a lot of work to do before you find the right partner for your company. Here are a few things that you should plan on doing before you start to search for a technical co-founder.
Table of Contents
Develop the MVP
An MVP is a minimum viable product. You need to create a simple or basic version of the product primarily to validate the idea that you have. Now, this is one of the most important things that you need to do. Firstly, it will help you to see if your idea is excellent. It is crucial for you to add in this product three to five core features that are unique.
Take the necessary feedback from the users to understand what makes or keeps them happy. You need to iterate the product until it looks great and your customers are quite satisfied with it.
You can use crowdsourced spreadsheets, Quora and Reddit to validate the ideas. Seek feedback and counsel with the target community to identify the things that they like. You then can create a great MVP when you indulge in this kind of activity.
Show Some Traction
Since you are not a technical founder, you are the person who is ultimately responsible for showing the traction to your idea. If you want the prospective partner to find your concept interesting, it is crucial for you to ensure that they can see the tangible growth.
You can do this by doing some things on your end to drive the sales as well as create awareness among people about your idea. A few examples of how you can show tangible growth are by preparing an email list that contains names and contact information of people that are very much interested in learning about your idea.
In some cases, this list might include the names of clients that are willing to pay money for the product. Other things that help the prospective partner interested in your company is the letter of intent that you obtain from the companies that are interested in buying your product and a list of initial users. The potential partner will be very interested in learning about these things before planning to invest their time, talent and money into your business.
Create A Good Revenue Model
Though it sounds simple, this is one thing that you need to work on seriously. A person who is interested in your company wants to see how they can make money. If you do have a solid plan in place, they will not think twice as they will understand your model well.
It is wise for you to take some time off from your work and ponder on things that can help in making your business flourish. It is essential for you to help that person look at the sales that are happening or at least explain to them that there is going to be good sales once you launch the product.
Once you have completed these three things, you should then hunt for the technical co-founder. One of the most critical things that you need to check is to find a person who is sharing the vision that you have for the company or upholds the values that your company believes.
Network to Find the Right Person
If you have all these things in place, it is vital for you to go and visit different events to meet and find a potential partner. Share with people whom you think might be a good fit the idea that you have. It is wise for you to skip NDA at this moment and be as transparent as possible.
You might be thinking that your idea is unique, but in reality, it may not be. If you are too secretive about the idea or concept that you have, you will not progress. People may not understand your concept and thus refrain from engaging with you.
Don’t Lose Patience
They say patience is a virtue, and it is one of the most important attributes that you should have when you are searching for a potential partner. You need to find one who has a similar passion for the product like you. Never choose a person that does not seem right even though it looks like a good deal. Take time to hunt and find a technical founder who fits well into your business.