How To Find A Partner For Your Tech Company
Many people are really excited about the idea of starting a tech company. Yet, it is not possible to know everything there is to know about running a tech company. You may need a partner for your tech company. Even great tech pioneers need partners of some kind. Steve Jobs had Tim Cook, for example. All over the business world, there are tales of great partnerships.
First off, let’s say you have no tech skills, but have a tech vision. Steve Jobs couldn’t code, and Airbnb’s founders don’t have any coding skills either. Bringing on the right people into your tech company will help make up for any deficiencies you have.
Often, because coding skills and other tech skills are in such high demand, you will be competing with a wide array of probably better funded startups. Not only will you be competing with other startups, you will also be competing with giant tech firms like Alphabet (who own Google), Facebook, Salesforce, and others.
In the early stages of your tech company, you will not have the funding necessary to compete for talent with salaries and benefits. Whatever salary and bonus package you offer can and will be easily beaten elsewhere.
The instinctive response is to offer equity. But if you aren’t a great company to begin with, equity isn’t worth anything. Nobody wants a share of nothing.
Yet, going without a partner who has the skills you need to turn your vision into reality, will hamper your growth and potentially kill your dream before you have even turned a profit or made a single product.
Turning to cheap options just to get by is no solution. Competition is fierce and a bad product won’t get you anywhere. Indeed, it may permanently turn off potential funders of customers and users. You don;t want your brand permanently associated with sub-standard products.
A lot of your success will depend on your vision. When Steve Jobs convinced Tim Cook to leave Compaq for a near-bankrupt Apple, he was persuaded by the strength of Jobs’ conviction and the breadth of what Jobs wanted to achieve, Cook says on a rational basis, staying at Compaq, then one of the largest firms in the world, was the smart play.
Many people whom Cook spoke to as he sought advice, told him he would be a fool to join Apple. Not only was Apple nearly bankrupt, morale was at an all-time low.
Without Jobs’ vision, Cook would have never joined Apple. Cooke left a great company to join what he himself thought was a mess, because he felt the chance to do something great was too big to pass by.
As the leader of your tech company, you need to infuse your vision with passion and make your vision as big as you can dream. People want to do great things. Offering them the chance to sign on a tech company agreement that has the promise of making history can make up for all the deficiencies that you have.