Mark Lucas - How to find a technical cofounder

Mark was part of a panel talking about how to find a technical cofounder for the Rochester Tech Startups group.

Transcript

2. Finding Co-Founders Background – Technology Executive, Sales & Business Focused Past Experience - Navint / Tribridge (Microsoft / SAP / PeopleSoft) Entre – IT Services, Managed Services, Apps ÜberGuard – Information and Data Security mySudo – A digital identity that pays
3. Finding Co-Founders MySudo – mySudo.me is an anonymous identity & digital profile that allows you to control how you share personal & mobile data with businesses, brands and deal providers to your benefit. Consumers – •Share, leverage and monetize personal and mobile data while protecting privacy and identity • Give users more benefits for sharing data without risks • Sudo identity protects privacy promotes sharing data • Puts analytics in front - Centralized personalization, One place for all relevant deals/offers Merchants / Businesses / Providers •Put Analytics in a pre-sale position •Improves value chain, reduces marketing waste •Form direct connection to consumers based on real time data
4. Finding Co-Founders The Problem – How do you find Co-Founders when all you have is an idea and no Capital? Challenges - •The resources you need are typically high paid, already working. •Most Entrepreneurial tech resources are involved with side projects • Very difficult to validate concepts, business models or a strong product market fit without an MVP • You need a strong team to attract the best talent •Ideas alone have no real value •Your only leverage is giving ownership/equity in a valueless business
5. Finding Co-Founders Prepare for Success – •Be passionate about your project •Do what you know, well •Sell the idea •Sell your long term vision •Build a solid business plan •Create detailed use cases •Network, Talk, Learn, Validate, Repeat Words of Wisdom - •Treat ideas as projects, not businesses so you don’t get too emotionally attached. •Understand not every idea is a good idea…Don’t be afraid to start over and try again •Don’t give up, be persistent and keep looking
6. Finding Co-Founders My Story •Set up meeting over beers with a experienced Lead architect and software developer •Peaked his interest First •Reviewed Use cases, Business Plan, Investor Presentation •Got him Involved in phases (write spec, create estimate, create SRS, start coding) •Once he was more invested, I offered him a role as co-founder/CTO •Later secured Design, Development Operations co-founders Beyond the Technical Co-Founder •Optimally, founding teams should span •Design, Development Operations, User Experience and Finance •Use Advisors and mentors to fill gaps •Investors invest in teams they believe in •Ability to execute is everything….
7. Finding Co-Founders Contact Information – Mark Lucas, Co-founder/CEO Mark@mysudo.me 585-269-4702 Sudo Inc. (855) 469 7836 / (855) 4mysudo 170 Office Park Way Pittsford, NY 14534