Look for Co-Entrepreneurs that Will Complement Your Skillset [Pic of the Week]
"Without talented employees I’ll never make it." I hear this sentiment expressed often by new entrepreneurs struggling to build their startup. It's a widespread problem, but one lasting solution is to build the needed talent into the leadership team. Instead of focusing on "employing" the right skills, look for the right co-founders (co-entrepreneurs).
To build on your own expertise, you can co-build your idea with a person who compliments your skillset well and will be as dedicated to the idea as you. They should feel a sense of ownership and loyalty to the brand as well. You may even find the need to have more than one co-founder at different stages in your journey; rather than hiring, you can offer a founding position with equity to ensure your co-worker has a stake in the company.
"One of the worst things a startup can do is compromise on the founding team," says Sohaib Thiab in his recent piece on Wamda, written after his startup Wizards Productions closed up shop. Gaith Kawar, previously a co-founder of TakTek Games, also mentions when discussing the company's closure that it is critical to launch with the talent you need in your founding team (you can find these tips and more in our article revealing 10 Tips of the Month from Entrepreneurs).
More often than not, entrepreneurs can’t do it all alone. Your chances at success increase as you widen your startup's capabilities by attracting new talent. But don’t rely on an employees to sustain your startup; try and craft a founding team that has all the skills to move forward should turnover occur (and it always will).
One new community, started in Beirut, has even taken it upon themselves to allow a space on Facebook for entrepreneurs across the region to find potential cofounders for their startup idea.
Afterall, a rockstar couldn’t exist without his band. If you want to be a rockstar in your market, make sure you find the right guitarist, bassist and drummer to back you up.