How do you find the right biz-dev oriented cofounder

6 points by yosun 11 years ago | 8 comments

This is the reverse problem - it's built and it's awesome and you have users. Suppose you are passionate about an app or platform you built, but can't figure out how to expand it into a (profitable) business.

You're all tech and you've built a product, but you are new at things such as business legalities, patents, customer expansion, long-term strategy, etc. How do you find the right business cofounder?

tixocloud 11 years ago |

Finding the right person to work with is always a challenge whether they are business or tech-oriented.

For myself, I would start with my immediate networks to see if there's anyone that I know who will put the effort in with the reward further out. They have to be as equally passionate as you are and be willing to debate/disagree when it's crucial. You'll also have to keep an eye on their background and keep tabs on their actions - as ceekay pointed out, many people talk but not many do.

It's possible to look outside your network as well so you could try all kinds of meetups, social events, demo days, etc. Or scope people out on LinkedIn.

The key is to finding someone you can trust and someone who's also as passionate as you are.

I'd be happy to help you out if you need short-term business dev advice. My email should be in my profile. Cheers!

ceekay 11 years ago |

1. Don't look for a "cofounder". Look for someone who can work with you and find a way to compensate him fairly. IF he performs and willing to jump, then think about cofounder. 2. Reach out to as many people as you can on LinkedIn that you think may be fit, tell them what you're doing, and ask if they want to help. IF they try to sell themselves and talk comp first, IGNORE. IF they roll up their sleeves and get things going, continue. 3. The only way you'll know is to try a few of them out. Not easy, but no other choice.

Also: IMO Hungry horses are better than fat elephants. So don't fall for experience / branding / whatnot.

Feel free to email me (email id in profile) for more specifics.

OkGoDoIt 11 years ago |

I have a similar problem. I build out working MVP's, but hate going the last 10% and turning it into a company. The one time I did join up with a business oriented co-founder, he turned out to be a charlatan who is great at talking but not at doing, and my startup fell apart. At this point, I'm not sure if it's worth the bother, unless you already know someone who you fully trust, who is available and interested in joining you.

giftgaming 11 years ago |

We're in a similar boat with www.giftgaming.com

Have clients, users, etc. Need to find the right partner / bizdev person.

I think the comments I've read here are good advice -- people who jump straight into compensation and remuneration are probs in it just for the cash. As you're not guaranteed to always have cash, ask yourself if you see that person sticking around when things look gloomy...

jkaykin 11 years ago |

Quick suggestion: add more information about what you are working on as well as a way to get in touch with you. HN might have the people for which you are looking.

otoburb 11 years ago |

Wouldn't an incubator or accelerator be one (but not the only) alternative to explore? They may be able to assist.

yosun 11 years ago | |

I'm pessimistic enough to think that nowadays, due to social requirements for the saturated startup scene, that classic story of a single tech founder being matched with their biz cofounder via joining an incubator/accelerator is merely a myth of bygone days.

otoburb 11 years ago | | |

If you are currently unable to find a business development co-founder, and you are asking for assistance to find potential candidates, a goal-oriented environment or social mixer(s) sponsored by an accelerator/incubator may bear fruit regardless of whether you actually apply or go through with a program.

In other words, I'm thinking more of the peripheral social benefits (where "social" here means "expose oneself to possible business development co-founder candidates") than the actual programs themselves. Since it doesn't sound like you are sure what traits to look for, even if such a course of action doesn't turn up a good candidate, one hopes that you'll end up with a better idea at the end of the process; possibly worth putting aside the pessimism.

If you're feeling plucky or feel the opportunity cost of the search will be too great to bear due to a massive loss of momentum, you will probably need to try it alone for now to get a feel for the exact skillset a candidate could bring to the table.