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.
Register for next edition of Tekedia Mini-MBA (June 22 - Oct 22, 2020) here. Four months, online, and costs $140 or N50,000 naira .