How To Find a Technical Cofounder For Your SaaS Business
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How To Find a Technical Cofounder For Your SaaS Business
Software as a service (Saas) is one of the fastest-growing businesses globally. According to Finance Online, the sector is expected to exceed $600 billion in 2024. Following the global popularity of the SaaS business model, there are already over 20,000 SaaS businesses in the world today.
This stat however does not slow down the growing need for technologically driven services and as such, startups are emerging by the day with groundbreaking ideas to service humanity.
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Running a Saas effectively requires an elite team which of course hinges on the ideas of the founder. Most times an executive team is needed to steer the affairs of the company, this is where a competent technical cofounder is required to help power the vision of the company.
From the legal aspect to the technical aspect, there is a need to assemble the right team. Of course, one of the first and most important people to look out for are technical cofounders.
So, suppose you have started a SaaS business, and you are looking for how to find a technical cofounder, read along as I walk you through the critical factors you should look out for.
This article will take you through all the important factors to look out for while searching for a co-founder, and what they offer to your SaaS business.
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Key Highlights
🎯 There is a growing demand for tech-driven services and as such Software as a service (SaaS) will continue to grow.
🎯 One of the fastest ways to gain access to potential technical cofounders is through networking sites.
🎯 A good way to start your journey is to host a tech seminar.
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🎯 You can gain access to millions of like-minded people on forums like CoFoundersLab, Reddit, and Quora.
What Is SaaS?
Often shortened as SaaS, ‘Software as a service is a software delivery and license business model that delivers software licenses on a cloud-hosted basis, often with subscriptions.
This business model is also known as on-demand Software or web-based Software.
As expected, SaaS is a part of cloud computing, as the whole business revolves around the concepts of cloud hosting.
According to projections specified in a research post by ExplodingTopics, 85% of organizations will be based on SaaS by 2025.
From the statistics above, you can confirm that SaaS is the future of businesses worldwide.
Finding A Technical cofounder For Your SAAS Business
Though it may seem simple, finding the right technical co-founder for your SaaS business is complex.
It is even more daunting when you are at the starting phase of your business.
Most startups lack the technical skills to drive forward, mostly due to the lack of enough technical hands on deck.
Without a doubt, there are numerous ways to find a technical cofounder for your company.
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However, many startups would find it difficult to spot these ways without proper orientation about them.
But, before exploring the avenues of finding a technical cofounder, let us take a quick introduction to technical cofounders.
Who Is A Technical cofounder?
A technical cofounder is the business partner of the founder of a software business.
These technical founders are equal to or close to the main founders. They work hand in hand toward achieving the company’s overall vision.
As expected, Technical cofounders also receive a large share in the business.
Typically, a technical cofounder should have technical skills in building, monitoring, and maintaining a tech product.
These guys always handle tech teams in your business and always develop new technical processes to enable you to achieve greater heights.
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You should have a good connection with your technical cofounder, as this improves your overall success rate.
Moreover, research shows that organizations with a well-connected team of individuals are more productive by up to a whopping 25%.
Best Ways To Find Technical CoFounders For Your SaaS Business
Having seen much about technical cofounders, here are a few ways to find them for your SaaS business.
Explore Networking Websites
With the advent of modern technologies, there are numerous ways to meet people online today.
One of these ways is via networking sites.
Today, there are a lot of online entrepreneur groups where you can discover a wide range of professionals that fit your specifications.
One of the best places on the internet to discover technical experts today is LinkedIn.
Searching for technical cofounders for your startup is quite easy on this platform.
Moreover, you can filter your search and discover like-minded people close to you.
Other than LinkedIn, several other networking websites allow you to connect with like minds.
Some of them are:
1. CoFoundersLab
2. AngelList
3. FoundersNation
Organize Tech Seminars
A good way to start your journey towards finding a technical cofounder is to organize a tech seminar.
These seminars give your business more exposure, and they also attract minds to your attention.
Via this structure, you can discover a wide range of qualified individuals around you who are willing to start a journey with you.
These seminars will also allow you to create discussion sessions where you can share ideas with others and also observe their interests in your ideas.
According to Pumble, 86% of business executives attest that a lack of effective communication leads to failure in businesses.
Some SaaS business owners do not like to share a lot about their ideas.
Sharing your ideas with like minds is a great idea for a tech startup, as you might find unforeseen solutions to some of your difficulties.
Attend Tech Events
To maximize your chances of finding a technical cofounder, you always have to make yourself available at events organized for tech-minded people.
Though you can always connect with technical cofounders online, nothing beats discussing ideas with a like-minded person one-on-one.
Several startup events are meant for people planning to establish a tech startup.
Of course, there is always a large crowd of business-minded people at these events.
By using websites like Eventbrite, you can discover many events around your location and across the world.
This move will enable you to stay up to date and see the right events you need to attend.
Aside from Eventbrite, there are many other websites like ComputerWorld where you can discover a lot about tech events.
Create Discussion Rooms On Forums Like Reddit or Quora
With a combined user base of close to one billion active monthly users, Quora and Reddit are the major information hubs of the modern era.
By merely hitting up a query and sharing your startup ideas on forums like these, you gain access to millions of like-minded people who might indicate a serious interest in working with you.
From a research post by Vanilla Forum, online forums can allow organizations to improve their overall engagement by up to a whopping 21%.
This benefit, of course, is very crucial for the development of startups.
There are a lot of experts on both Quora and Reddit, as well as entrepreneurs and tech experts looking for ways to join a startup.
With the right communication pattern, you can easily discover a wide range of potential technical cofounders with so much experience in your desired field.
So many individuals discover their business partners on these forums, and it all depends on their approach.
As a SaaS business owner, you can give it a shot and pray to meet the perfect technical cofounder.
What To Look Out For In A Technical Cofounder
Many business owners go on the search for technical cofounders without actually knowing the exact traits to look for in them.
Without a doubt, every technical cofounder must have good skills in tech, building tech products, etc.
However, the real things to look out for in a technical cofounder depend on your specifications.
Typically, a technical cofounder should share his/her visions and passion with you and have sufficient tech skills.
However, here are some things to consider before really looking for a technical cofounder.
Observe Your Capabilities
Before searching for a technical cofounder, you have to consider your abilities first.
First, you need someone with some technical skills that you do not have.
It is impossible to be highly skilled in all areas of tech.
As a result, you have to analyze and outline the needed skills that you lack properly.
Of course, anyone can learn any technical skill, so you can take up any course, probably online.
However, the reality is different, as learning a tech skill takes time and experience.
To successfully run a startup, you need experienced hands in all crucial business areas, especially in planning, design, and actual development.
Outlining your needs will allow you to understand better what to look out for in a technical cofounder.
Put Your Long-Term Goal In The Picture
Every company starts small and then grows big with time.
However, all startups normally have long-term goals regarding how they want their company to look in the future.
Even if your startup goal may be the same as your technical cofounder’s, your long-term goals may be different.
Thus, it is best to fully comprehend the long-term goals of your potential technical cofounder before making a final decision.
Jeff Bezos started Amazon as a website for selling books across the United States.
However, he had a long-term goal of making the company one of the e-commerce giants in the world.
With time, of course, this growth happened as he had a team of individuals with even goals.
Though your startup plans and strategies may be different, you must have the same long-term goals with your technical cofounder and your team to maximize success.
This way, you can maintain consistency and continuous quality in service for a long time.
Final Thoughts
Starting up a SaaS business requires a lot of things, and one of them is assembling the right team.
Suppose you are thinking of starting a SaaS business but don’t know how to get a technical cofounder. In that case, you can follow the steps in this article.
Today, numerous communication methods allow people of like minds to connect and share ideas.
There is always a chance to meet someone who shares the same business ideas with you, from social media to seminars, shows, and events.
As long as you use the right communication strategy, you can build trust and assemble a team in no time.
Many businesses lose it at the first stages, mostly because of the lack of a strong team.
For tech startups like the SaaS model, you need experienced hands on deck.
Thus, there is always a need to look for the best technical cofounders and team members.
So far, you can carefully utilize these steps in this article to maximize your success.
We wish you success as you search for the perfect technical cofounder for your SaaS business.
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