How to search for cofounder?

Select the cofounder to whom you know very well, that means you spend at elastic 2years with them. He should not angry and should not heal on you and should understand your point. Of view regarding company .

mostly 2 or 3 co founder you should keep not more that and not less than this.

 

How to find he is good co founder or not ?

if you are introvert the he should be extrovert.

if you don’t have knowledge about how to hire anyone then your cofounder d should have knowledge about this.

 

Before executing the idea first validate that idea by creating mock up.

Ex:

• To validate your idea you can create video 
• You can create mockup image for this
• you can create design before developing it 

If you have an chips then create. mock up image for this. if you have an app then just create the screen and show them how this work. 

 

Dont take survey because you will not get actual result form their. because some time user just fill that survey in hurry and give wrong answer of them, and some time we got answer like unn!! this might woork someting like that so we cant be sure is this idea will work or not.

 

What you should do:

• Show that mock up to the one person at a time .
• Instead of taking surgery take reaction from customer one by one
• Place ads on Craigslist for free
• Go to people who you dnt know, to validate your idea don't go to the people to whom you know, because if they know it's your product then they will 100% tell you it's good product because they o
  Dont want to decrease you anthusiasm
• Check the immediate response of unknow person, and validate your idea and if he is saying something then collect his openion and ask many more people who have same behaviour of the marked person.

 

Create MVP according:

1) means create the product with basic and mian features. Let's say if your dot project means people can chat with each other in group so when you create MVP then you only should add the feature that help user to chat with each other. Don't add welcome screen, cost is, pree more thing just add important and usable thing that tell about you idea.

 

 

Entrepreneur:

- Your entire goal with MVP Is to make sure that you are building something that will meet the need.

- if you are building MVP and if you don't have designer in your team then not about to worry hire him from outside for a work once your company get scale then join somebody for designing

 

MVP of Twitter was I can make twitte and I can follow the other users

Address the solution for problem in your MVP

Don't make your MVP with large corporations  in partnership

Create MVP with the firm or from freelancer

The reason you need to do the thing relatively quick is because you are spending your time, money and you will not get enough time to get feedback

 

Focus on today not tomorrow, because

If your business idea is to complicated then just focus on core idea and make it simple

If you are thinking to don't think i will work once I get millions of customers

 

If you are not getting good response that means your MVP not solved the problem of customer so you need to bring some update or changes in your business.

 

What if people don't use it?
That means core feature is not solving your problem
Don't add useless and more features other than your main core feature

If you are on MVP stage and people are not giving you better response then stop adding new features , test your product and then improve it.

 

Is this my product is solving the problem and getting fit in market fix.

If you want to see whether your product is perfectly solving that issue then do qualitative and quantitative analysis
Quantitative analysis:
Take the total number user from the server.

But numbers never tell you entire story.

 
- See how user react with the product
- when ever you look metric check am i bringing new customer.
- check growth as well as engagement, and we want both growth and engagement.means new user should come in but existing should not be goes out.
- Take analatics number and don't do this by you hire some one or send this numbers to another founder or invester.
- if you are making valuable product then you should charge for it
- don't add feature untill your main features now work
- more valuable thing is your time, so if anything not working then don't waste your time thier

So how long should we keep doing the thing:
Keep doing untill you have an valuable resource

 

1) when to hire employees?
-> make sure you have available payroll fund before hiring.
Hire employees carefully, because sometime you done probelm and they create the problem.

- meet multiple candidates so you can create comparison.

- first see his work and then decide to hire them

- don't hire specialized skill set to earlier.

- you should hide the employee who take intiative, he should create road map by himself

- seek out early employees who entrance change, can handle risk, take initiative, and resourceful tackle challenges.

- ABC of hiring
Anyways. Be. Collecting candidates.

 

Why do so many startup fail:
1) Don't hire employees rapidly not a slowly. If yiur company growing fast and if you have enough money in Bank to pay them then to can hire that much number of employees.

- Take customer feedback: Don't undervalued customers reviews and don't trust on them. First hear from customer about their issue. And then do research on it. And then take action against it.

- Raising money:
1) You raise not enough money, so you can't actually get to the next big milestones in you company.
2) it is also possible to raise to much money.
If we get to much money from invester then we get burden from them and we create our product more complicated.

- Core idea:
You not first reach the idea not validate it not create the MVP. Sometime you start directly working on it and this trend loose the main core idea. And sometimes they not start thier startup.

 

You will get many peoples advice but at the end you are the one who take decision.

It's only decision and actions that build products and companies, not advice. Interact with each other.