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Thursday, October 1, 2020

Why You Need a Technical Co-Founder for Your Startup

The barrier to entry for launching a startup is much lower today than it was ten years ago. Today, anyone who has an idea and the dedication and patience to build a company around it can watch their company grow. Compared to the 90s, there are many more resources available for startup founders who have revolutionary ideas. Those who want to take their passion projects to the commerce space have the opportunity to do so.

But while starting a business is easy, succeeding in business is entirely another story. Startup founders who aren’t technical will face unique challenges when it comes to the digital end of things, and this could be very problematic for long-term growth. Technical co-founders understand how to implement DevOps with platforms like JFrog, how to automate processes to push code quicker, and how to leverage the best programming language for your needs.

Why You Need a Technical Co-Founder For Your Startup Business Idea

Why You Need a  Technical Co-Founder  for Your Startup
Starting a business in this era requires more than just an idea, you need the right expertise. This sole reason is one of the best reasons why you need to have a technical co-founder to support in bringing your idea to reality.

There are many reasons you will need co-founders for pioneering your startup idea, but here are a few other reasons why you’ll need a technical co-founder for your startup:

1. On Site Technical Experience

Even if your startup company isn’t grounded in technology, there’s no disputing the fact we live in a digital age, and you’ll need technical experience at some point along your journey. The ability to have a professional on-site to aid your technical needs will prove crucial as you move forward. Whether you’re building a mobile application, a custom client portal, or a website, a technical cofounder is there to guide you along the way. Without one, you may find yourself outsourcing your technology needs. And while there’s nothing inherently wrong with outsourcing, major projects in small-sized organizations are typically best dealt with in-house.

2. Stronghold on Intellectual Property

Many technical needs and software development projects are outsourced. Some software development companies focus on specific niches, programming languages, or other specialties. But when you look at the long-term picture, if you plan to maintain the highest hold on your intellectual property, it’s important to keep all of your code in-house. Working with an agency, you never know who has eyes on your work—even if the company seems pretty trustworthy.

Furthermore, if you become too dependent on a third-party company, you may find yourself relying on them anytime something goes wrong or anytime you’d like to make improvements. If that company were to go under, you’d have to start with a new software development company from scratch, and getting all your data or asking questions to the previous company might be impossible.

Lastly, from an investment standpoint, having complete control over your intellectual property makes sense. Investors want to be able to speak to everyone in the company and most especially to any technical members that play a key role in shaping its early foundation.

3. Save Money

The early stages of a startup are crucial. This is when how you spend your dollars will have the biggest impact on the company—likely for years to come. Having a technical founder makes it possible for you to save money during this critical time. As you may already understand, oftentimes, founders don’t give themselves a salary until the company is profitable. They continue to put any earned dollars back into the business.

Without a technical co-founder, you’ll have to pay a salary to a tech-savvy employee, even if this salary ends up hurting your business during those critical early days. A typical developer expects a high five-figure or low six-figure salary; something you may not be able to dedicate the funds to right now. Many of those developers are not willing to take a pay cut without major stock options, especially when technical individuals and developers are so highly sought after right now.

4. Higher Degree of Commitment

No one is as committed to a business as its founders. This doesn’t mean standard employees can’t be committed to your success. However, chances are no one is as committed to the success of the company as its founders. When you take on a developer as a co-founder, you benefit from a much higher degree of commitment than a regular staff member. That person understands that the company’s success is equivalent to their own. Technical co-founders aren’t just worried about cashing a check at the end of the day, but in building a business that represents them while and that will thrive for many years to come.

5. Allows You to Hone in on Your Focus

As a non-technical founder, chances are you want to put your time and energy into the areas of your business where you’re strongest. When you have a technical cofounder, you’re able to do so with much greater ease. Instead of worrying about many of the all-around concepts you might be concerned about, you can hone in on your greatest assets and what you can bring to the company. Whether you’re a savvy seller or prefer to focus your efforts on design, having a diverse set of skills on board makes it much easier for you to do the things you’re most passionate about.

Statistics have shown that when you delegate tasks to people who are more likely to get it done fast and swiftly while you focus your efforts on things that matter, your chances of achieving success will increase by a staggering 30 percent. A recent study by Inc. affirms this report, stating that 53 percent of business owners and entrepreneurs opined that they can grow their business, increasing revenue if only they could delegate about 10% of their entire workload to someone who could effectively carry them out.

What do these figures mean for founders?

You can build a million-dollar business startup from scratch just by focusing on the important things while getting a technical co-founder along the journey who’s going to be overseeing the developmental aspect of the business processes.

Do you have a startup idea that needs funding?

Register for the upcoming TechAtLast Founders’ Fund where you’d have a chance to pitch your ideas to a group of investors across Africa and the rest of the world.

Olawale Danielhttps://olawaledaniel.com/
Olawale Daniel is a business builder and psychologist, a network marketing professional, a world-class motivational speaker, a successful internet entrepreneur and a digital media strategist interested in all things mobile and digital — start-ups, media, branding. He started TechAtLast back in 2010 as a platform to quench his thirst for latest technologies. As a motivational speaker and author, Olawale has published several motivational and personal development books and he's currently working on "SUCCESS AHEAD - Don't Quit" which is billed to hit the stand by Q4 of the year. He writes regularly on his personal website on motivation and personal lifestyle and tips for network marketing success, OlawaleDaniel.com. His latest book on How to Sponsor More People in Your Network Marketing Business is still one of the best sellers in its category. He's presently working as a Health and Wellness consultant at BURN SLIM TRIM Inc., a firm that helps people regain their perfect lifestyle through state-of-the-art recent discoveries way back from nature. He's also the brain behind FOBCourse, a business university for startup entrepreneurs in Africa.

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