Responsibilities
1. Identify Market Opportunities
While we are testing the product-market fit, you will be responsible to identify opportunities or areas where consumers may want or need a product that does not yet exist. You can take a big-picture view of their market segment or industry, identifies what is working and what needs are not yet being addressed, and determines whether that market presents an opportunity to establish and grow a successful company within that space.
2. Manage Product Development
You also play an important role in the product (website) development and streamline project implementation. This aspect of the role is hands-on and critical, as successful product development can determine whether a new venture is ultimately successful.
3. Direct Marketing and Promotion
You are also responsible for conducting early marketing and promotion for our product. This could includes building a social media presence, crafting press releases, and attending industry events to build word-of-mouth.
4. Develop Financial Estimates
Co-founders are involved in financial estimates and setting milestones and timelines. You estimate the cost to bring their product to market, develop financial plans to determine break-even points and ensure long-term solvency, and sets budgets as the company grows. Part of this role can also involve seeking out additional funding and investors for a new venture.
5. Create Business Plans and Documents
Another responsibility of yours is creating business plans and important documents, which can include financial information, hiring documents, and business registration materials. Co-founders will work together with legal experts to structure their businesses and create legal documents that outline each co-founder’s responsibilities, shares of equity, and terms of a partnership or corporation.
6. Build and Lead Teams
As Necessiti grows, you also need to build and lead effective teams. This aspect of the role involves high-level decision-making as well as the ability to identify areas where it benefits the company to bring in new personnel. The ability to inspire and lead teams helps companies scale up as their market share increases and helps hire and retain staff members who are dedicated to the company’s success.
Co-Founder Skills and Qualifications
Co-founders need to balance big-picture thinking with the day-to-day tasks that go into building a successful organization. Co-founders can come from almost any educational background, but all tend to have the following skills:
- Strategic thinking – you are excel at strategic thinking in order to identify product opportunities and make business decisions that ensure long-term success and growth
- Market research – it’s also vital that you are able to conduct market research and analyze trends and data to make well-informed business decisions
- Product development – in the current stages of a company, you can take an active role in product development, making both high-level and minute decisions regarding their products before they go to market
- Marketing and promotion – you need to successfully promote our products before they go to market, building anticipation and creating demand through social media, advertising, and networking
- Personnel management – as a company grows, you need to excel at recruiting, hiring and retaining talented and dedicated staff members who can help bring the co-founder’s vision to life
- Financial planning – you need a solid grasp of financial planning and forecasting and should be able to set milestones and budgets to ensure solvency and long-term growth