Entrepreneur · Finding cofounders

Finding Co-Founder for project and due diligence for right skill I need?

kamal pancholi Founder, Growth is the Goal

October 18th, 2020

I have launched market place website designed by our contracted designer. But to be successful in this business I need some skilled people to join me as I am not IT person so, anyone can share their own experiences and help me to solve this puzzle as its long-term commitment so, how to find right match?

Paul Garcia marketing exec & business advisor

October 20th, 2020

It's true, almost no one teaches business owners how to advertise, hire, and attract good matches as employees. Most people wrongly start with a job title or imagined role when they should instead be starting with a list of needs and wants. The problem is that inexperienced entrepreneurs often do not fully understand their own needs and wants enough to make refined hiring decisions. And this leads to some initial churn. But it's part of the learning process. You can certainly work with a very hands-on recruiting firm to format your search and come up with a process by which you will evaluate candidates.

These days, no job is a long-term commitment. Employment is at-will. I realize you want to avoid making costly mistakes. So it may require some up-front spending to set up your hiring process and define parameters with some professional help. The total cost of finding employees can add between 10-40% of the salary you pay them, which makes finding a long-term match even more important. Make sure you factor in the search and interview costs (in time and effort) in addition to what compensation will be. This is important for your budgeting and planning. The higher the level of responsibility, the longer it is likely to take to fill the role.

Good luck.