A founder of the company is one who establishes the business and works for its betterment relentlessly while gathering the necessary workforce to achieve the same.
The founder of a company is one who establishes the company or the one who brings the company into existence. The founder is the creative and innovative head of the business. The business is most often the brainchild of the founder as the founders build the company from scratch. Founders materialise the ideas in their minds into real-time businesses. Founders can either set up and carry the business on their own or can entertain co-founders in the running of the company. For instance, Larry Page is the founder of Google. Also, Larry Page is a co-founder along with Sergey Brin with respect to the company. lets check the Roles of Founder in a Company
When the company runs without a co-founder, then the founder takes credit for both the risks and rewards that result during the course of the business. Although the founder generates the idea for the business, sometimes the business may need more people for the brilliant execution of the idea. As ideas without implementation would literally mean nothing to the business. In such cases, the founder recruits the required manpower. Here, the ownership is divided accordingly and both owner and the co-owners work for the betterment of the company.
Once the co-founders are recruited, then the other employees, partners, and vendors are appointed. Anyone who isn’t a co-founder works as an employee in the company, partners with it, act as vendor or as contracting parties to the business, or makes investments in the company depending upon the portfolio of the company. The founder either directly recruits the co-founders and the others or delegates the process of interview and appointment to another able person.
A founder has to earnestly look into the vision and goals of the company and prioritise its needs. The company in the initial stages is more like a jigsaw puzzle. The founder needs to look for the missing pieces and carefully place them in the right places. A founder needs to weigh the strength and weaknesses of the business and carefully introspect the business goals and financial targets at regular intervals to assess the progress of the business.
Although every second person in the market would love to jump into entrepreneurship, seldom is it successful. A founder, therefore, has to perform the following roles impeccably to build a successful establishment.
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- Team Management:
A founder should be able to find the right person for the right job. After all, the founder alone cannot build an empire and would need a number of supporting hands to do it. The stakeholders, investors, suppliers, vendors, and various other employees must report to the founder or to the respective personnel as directed by the founder. The founder should render all the support and assistance needed to the staff. The founder should have a clear vision of the goals and should hire talents and situate them in a proper hierarchy. In short, the employees of the company, especially in a start-up should bring both good business and talent to the table. The founder should play the role of an able leader and lead the organisation competently
- Having a Futuristic Approach:
The founder should act with a futurist approach and should have a plan neatly sketched out for the following years and strive to achieve them. The organisation should be sensitised about the vision and goals of the business
- Market Research:
The first step that should be pursued well ahead of launching the business is to commit to exhaustive market research about the demand and supply, with respect to the product or service the founder is intending to launch. Various key components such as the profit margin, potential competitors, strengths, and weaknesses of the business must be meticulously analysed
- Able Leadership:
The founder must demonstrate decisive leadership and must take pain to lead from the front. Ownership should be taken not only for awards and accolades but for failures and pitfalls as well. A proficient founder must build a business wherein the process is taken care of by the employees themselves thereby reducing the dependency on the top management. Adequate planning must go into deciding the hierarchy of the management and thus the founder can decide the tasks that can or cannot be delegated. The founder has to set an example for the organisation in terms of professionalism
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- Fundraising:
A business can’t grow big just with vision and goals. In a business, money matters the most. The funds can be gathered from potential investors and the founder’s most important job is to hunt for them. The growth of the business is directly proportional to the scale of the investment. The founder has to rightly convey the ideas and prospects of the business to persuade the investors to sponsor the business. The founder has to keep a check on the finances constantly and should be punctual in all compliances pertaining to finance matters.
- Proper Selection of Key Performance Indicators (KPI):
The founder should analyse and choose the KPIs with the bigger picture in mind. Few of them may be temporary with respect to the long-term goals of the business. Once the KPIs have been picked, the founder has to keep a check on them constantly and have to improve the same consistently
- Networking and Marketing:
Once the founder has set the stepping stones for the business, the next important step to be taken is to take advantage of networking. Through intelligible networking, the founder gets to interact with like-minded people who might turn out to be potential investors, clients, or event partners in the future. On the other hand, marketing strategies should also be developed to take the business to newer horizons. Employing the latest trends, like developing winning content for the website, effective SEO (Search Engine Optimisation), etc can help the business grow in leaps and bounds.
The founder should also be proactive in taking decisions pertaining to quality assurance, employment of best practices, customer acquisition, etc. The founder has to act as the fulcrum to hold the various aspects of the business together. If the founder loses even a speckle of interest in the business, the entire system could collapse. Hence, the founder is the solid rock of an establishment and has to take every care to hold it intact.
FAQs
What is a founder?
A founder is an individual who plays a pivotal role in establishing and launching a business or organisation. Founders are the visionary leaders who conceive the idea and often take the initial steps to turn it into reality.
What are the main roles of a founder?
The main roles of a founder include envisioning the company's mission, shaping its strategy, securing resources, building a team, and navigating challenges to drive success.
What are the challenges of being a founder?
The challenges of being a founder are diverse, ranging from financial pressures and market uncertainties to managing a growing team and handling the stress of decision-making.
What are the rewards of being a founder?
The rewards of being a founder can be significant, including the satisfaction of realising a vision, financial success, personal growth, and the opportunity to make a lasting impact on the world through the created entity.
What skills and qualities are important for founders?
Important skills and qualities for founders include leadership, resilience, adaptability, strategic thinking, effective communication, and the ability to build and nurture relationships. Founders also benefit from a combination of industry expertise, creativity, and a strong work ethic.
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