Co-Founder Must-Have 5C
A pleasant conversation and startup lesson!
Last few days, I got a call from my LinkedIn connection. They want to become a co-founder in my online food-tech venture;
Yes, I am looking too.
A few of my friends are already in my mind. But all have some family responsibility and EMI, so they can not join on zero salaries even I can not insist on him more, But once I can afford his minimum salary, they will work with me.
But those who my friends of connection want to show their desire to become a co-founder in my venture are most welcome!
I am asking Two simple questions.
- Why do you want to become a co-founder?
Ans: They told Food is the Billion Dollar industry.
2. My second question: what value will you be adding as a co-founder?
Ans: They said they could scale my business. My answer is for scaling a business; we do not need a co-founder. We need a team.
But again, he asked: what the difference between co-founder and team is?
And that was a great question!
Answer: If you hire a co-founder, it will take you 1+1 equal to 11. While you employ as a team member, it will make you 1+1 equal to 2.
After that, I didn't ask anything and told him I needed 5C as a co-founder:
- Commitment: commit with transparency
- Consistency: Consistency is vital in every field, and you know that. Without consistency, you can not go X to 10X.
- Creativity: Creativity give you the edge over your competitors. It helps you to find unique and sustainable solutions.
- Competency: Without competency, you will give up soon, and you can not compete with your peers, and even you can compete with your leader in your industry. However, everyone has the same 24 hours to compete with each other.
- Cash: for the personal expense, either it's your saving, or you rely on your family and friends. At least you have 12 to 18-month expenses in your pocket.
Bonus Point*: They must have an avid book reader: At least he should have read some famous biographies.
If you have 5C qualities, you are welcome in my venture!
“Founders aspire to create meaningful, strategic solutions that will make some corner of the world, no matter how small, a better place.” ― Jim Marggraff
Note: Anything more to add to the list; Comment on it.
Thank you for reading!
