Two Questions from Tekedia Mini MBA Discussion Board
A Founder who is more focused on the technical aspect in building his project could find it quite hard to integrate the business model canvas template for his growing start-up, why is it so?
Do you think that he should focus more(as a CTO) on the technical part, and hire more business-inclined personnel to do it for his start-up?
My Response here:
On the questions, it is always recommended for technical-only founders to have business-skilled people around them since they have limited business skills. Technology is very important; yet, it is nothing but a tool. It does wonders when there is what I have called “friction-purpose” superimposed on it. Simply, you want to be sure the business model is sound based on many factors. Most times, tech-only founders cannot deliver on that.
Yet, this is not a binary: you can be a techie and still understand business very well. But where that is not the case, get help by hiring someone that will complement you from the business side. Bill Gates had Steve Balmer in Microsoft, Mark Zuckerberg has Sheryl Sandberg in Facebook, Google boys had Eric Schmidt.
In some cases, the business mentors could be invisible but someone is playing the drum for the music the Aneke bird is seen dancing by the roadside.
You need a team that is complete with capabilities on tech and business strategies: the 360-degree team. Next week lectures will focus on those strategies and I am sure working on the canvas will become easier.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4.30pm WAT; costs N20,000 or $60.