10 Important Tips on How to Find a Co-founder for Your Startup in India

10 Tips on How to Find a Co-founder for Your Startup in India

by | posted in: Indian Startup | 0

Many factors make a startup successful – having the right co-founder is one of them. Though you can start and run the show solo, it helps to have a business partner to share responsibilities and double the odds. Many brands that made it big had multiple founders, from P&G, HP, and Google to Flipkart and Zomato.

But the question is, how to find a co-founder for your startup in India? Are there any online and offline platforms where you can meet potential business partners? What are the top characteristics to look out for in a startup co-founder in India?

 

In this blog, the experts at The Office Pass (TOP) talk about how to find the right co-founder for your business.

10 Important Tips on How to Find a perfect Co-founder for Your Startup in India

  1. Prepare a checklist
  2. Search for a partner who shares your values
  3. Look for someone with complementary traits
  4. Search within your social circle
  5. Attend startup events
  6. Join a business networking group
  7. Tap into the power of founder dating apps
  8. Move to a city with a good business ecosystem
  9. Seek help from mentors
  10. Join a coworking space

1. Prepare a checklist

The first step is to prepare a checklist detailing what you expect from a potential co-founder and your non-negotiables. The list should cover areas like personal traits, skills, professional qualifications, working style, and other relevant aspects. Here are some of the questions to include in your checklist to finding a co-founder in India:

  1. How well do you work together?
  2. Do you share the same vision?
  3. Do you trust each other?
  4. Are you banking a lot of your partner’s experience?
  5. Do you disagree with respect?
  6. How do they cope with stress?
  7. Do they have relevant expertise?
  8. How do they handle risks?
  9. Are you equally passionate about the product/service?
  10. Are you like-minded in business decisions?

The checklist you prepare will serve as a guide to see whether you and your potential co-founder are a good match and identify red flags early on.

2. Search for a partner who shares your values

Like-mindedness in values is one of the top characteristics to look out for in a startup co-founder. Imagine starting a green tech company with someone who thinks global warming is a hoax. Or, co-founding an NGO with a partner who puts profit over people? Remember, starting a business involves creating a work culture, so it is in your best interests to have a co-founder who shares your values, principles, and vision.

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The Office Pass Gurgaon
The Office Pass (TOP) Managed Office on Golf Course Road, Gurgaon

3. Look for someone with complementary traits

While it is important to have a co-founder who shares your values and vision, it is also crucial to look for someone with complementary skills and personal traits. For instance, if you and your partner both lack communication skills, it becomes difficult to make a pitch to investors, speak to your clients, conduct training sessions for your teams, etc. Co-founders with strengths and traits that support each other make a good match.

4. Search within your social circle

Wondering how to find the right co-founder if you are a first-time entrepreneur? Well, start by searching within your existing social circles. A batchmate at your college, a colleague at your previous company, a cousin, a social media acquaintance, or a friend with similar professional interests could be a potential candidate. Choosing a co-founder from your social circle will also help minimize the risks of partnering up with a stranger.

5. Attend startup events

Startup forums and events are among the best platforms to find a potential partner for your startup. If you are living in a metro city like Delhi, Bangalore, or Mumbai, you will have no difficulty in finding events conducted by startup incubators. People living in areas with less active business communities will benefit from online forums on LinkedIn, Facebook, and other social media platforms.

Also Read: The most common problems Entrepreneurs face while starting a startup in India

6. Join a business networking group

Want to up your game? Join a reputed business networking group to increase your chances and visibility. Unlike online forums, such groups often require you to pay a fee and meet certain membership requirements. Business Network International (BNI) and Rotary International are some of the top-rated networking groups in India. You will also find other city-specific and start-up-friendly groups.

7. Tap into the power of founder dating apps

Here’s a common question most startup entrepreneurs have – how to find a co-founder in India online? Try co-founder dating, and yes, it’s a trend gaining in popularity in the country and all parts of the world. The Co-FoundersLab, Tech Co-founder (a niche platform from Co-founders Lab), Founder’s Nation, Start Hawk, Startup Weekend, and You Noodle are some of the popular founder-dating apps and sites.

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8. Move to a city with a good business ecosystem

While it is possible to find a partner from anywhere in the country using online platforms, you could also consider relocating to a city with a good ecosystem to make the most of local networks. For instance, you are more likely to find a co-founder for your IT startup in Bangalore or Hyderabad, while a FinTech entrepreneur might find Delhi, Gurgaon, or Mumbai more favorable.

9. Seek help from mentors

Business mentors and coaches have a track record of mentoring scores of entrepreneurs from all industries. Seeking help from your business mentor is a great way to find a co-founder. Since your mentor knows you and your business, they will be able to put you in touch with suitable and credible candidates.

10. Join a coworking space

We have saved the best for the last! Want to know how to find the right co-founder in a hassle-free and organic way? Join a coworking space in Gurgaon. Shared offices are startup hubs filled with entrepreneurs from all sectors, so you can easily amp up your professional networks. Your co-founder might be sitting just across the table!

To sum it up

Choosing a co-founder is an important decision for an entrepreneur, but it doesn’t have to be a hard one. By creating a checklist, widening your networks, and looking in the right places, you will be able to find the right partner for your business.

FREQUENTLY ASKED QUESTIONS (FAQS):

Question: Where do I meet cofounders?

Answer: Finding a co-founder can be a crucial step towards starting and building a successful business. Here are some ways people typically find co-founders which includes personal networks, Networking events, Co-founder matching websites, social media and online communities and freelance marketplaces.

Question: What are the best platforms to find a cofounder for your startup?

Answer: There are several platforms that you can use to find a co-founder. Here are some popular options like: CoFoundersLab, FounderDating, AngelList, LinkedIn and Meetup.

Question: Where can I find marketing cofounders?

Answer: Finding a marketing co-founder can be challenging, but there are several ways you can try to connect with potential candidates include Attend networking events, join online communities, Use co-founder matching websites, Personal and professional network and Reach out to marketing agencies.

Question: Can a co-founder resign?

Answer: Yes, a co-founder can resign from their position in a company. However, the process and consequences of a co-founder’s resignation will depend on the specific circumstances and the company’s governing documents.

Question: Does co-founder get paid?

Answer: As a co-founder of a company, it is possible to receive a salary or compensation for the work that you do. However, it ultimately depends on the agreement and arrangement made among the co-founders when starting the business.

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5 Ways Technology is Increasing the Safety of Coworking Spaces

by | posted in: Coworking Spaces | 0

Coworking spaces are no longer limited to freelancers and digital nomads. They’re attracting everyone from entrepreneurs to entreprises with decades of experience. The reasons are many – it’s a professional environment, it’s budget-friendly, like-minded people are working in the same space, networking opportunities and so on.

Unplanned Interactions

Source: Science Direct

Whether it’s an entrepreneur with a team of 5, a freelancer, or an MNC with a team of 300, safety is one of the key considerations while choosing a coworking space. At the very least, this means the coworking space must be on a well-lit arterial road that sees sufficient foot traffic. 

People should feel safe walking into the shared office space as well as within the space. When it comes to safety in coworking spaces, there’s the physical safety of the coworking members and the safety of data to be considered. Technology can play a critical role in both cases. Here are 5 ways technology can make coworking spaces safer.

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5 Ways Technology Can Increase Security for Coworking Spaces

  1. Access Control
  2. Visitor Management Software Solutions
  3. Security Camera Coverage
  4. Secure Data
  5. HVAC Systems

1. Access Control

The number of coworking spaces as well as people working from these spaces is steadily increasing. 

Number of Coworking Spaces

Source: Science Direct

In 2019, coworking spaces seated 190 members on average. This is sure to have increased since. In terms of maintaining a safe workplace, space managers must know who is present at any given point in time. High-tech access control systems make it easy to track people in a building and ensure that the space isn’t misused. 

Some of the common safety protocols implemented to achieve this include key cards with magnetic strips, chip cards, proximity cards, key fobs and smart cards. Installing biometric-powered access control software on all member’s mobile phones can also help. 

Choosing the best access control technology depends on the workplace models. Long-term members may prefer having an app on their phones while people who lease desk space for a day or two may prefer a smart card.

2. Visitor Management Software Solutions

Along with members, coworking spaces are also frequented by visitors. There are delivery agents with lunches for members as well as clients, people wanting to meet members for job interviews and so on. These are people who need limited access. 

For administrative and security purposes, the time, duration and purpose of their visit need to be tracked. Traditionally, it was done by maintaining a register at the reception. But, modern technology has a simpler, more reliable solution.

There are many visitor management software solutions available today. Visitor sign-ins can be automated and hosts can get instant notifications of the same. This also maintains a digital record of all visitors for future audits and in case of a mishap. What’s more, this creates a professional first impression for a member’s visiting clients.  

3. Security Camera Coverage

Though a coworking space is technically responsible only for security inside the premises, knowing that the area around is safe is important for all members. Gadgets like security cameras are essential for this. Today’s high-tech solutions for surveillance have night vision capabilities that ensure that members can leave the office safely even after dark. The cameras are linked to the internet and feeds are often accessible not just on computer screens but even on mobile devices. 

In addition to reassuring members of their personal safety, it also makes members feel more comfortable using the coworking space lockers to store their belongings. Doing so gives them less to carry while commuting and thus improves the overall experience. 

4. Secure Data

Safety for a coworking space extends to data safety. Each year, hundreds of companies become victims of cyber fraud, phishing schemes, etc. Being the victim of a cyber attack puts the company’s reputation and relationships with customers at risk. It also has financial implications. The average annual cost of cyber attacks in the USA was estimated to be around $27.4 million!

Source: Cloudinary

Along with individual companies, coworking spaces too are taking up the mantle of fighting cybercrime by investing in security solutions for the Wi-Fi network, keeping hardware and common software updated, etc. This gives members the confidence to plug into shared networks and helps them be more productive. 

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5. HVAC Systems

Lastly, there’s safety with respect to health to be considered. Today’s HVAC systems do not just help maintain an optimum temperature in the room, they also remove germs and toxins to purify the air. 

Modern HVAC systems also control humidity in the office and keep away mold, etc. from growing. This keeps people working in the space healthier and lowers the risk of spreading infections. In today’s post-COVID era, this is a huge confidence booster for people moving away from the work from home model.

Finding A Safe, Secure Coworking Space

Along with making sure that a coworking space meets all your technological needs in terms of Wi-Fi, printers, etc., you should also ensure that the space makes your team members feel secure. 

Make sure they have strict security protocols in place and that the area around them has a reputation for being safe. This is especially important in metro cities like Delhi, Noida and Gurgaon. 

Your best choice in these cities is to pick a desk at The Office Pass (TOP). TOP has coworking spaces in prime locations with easy access to metro stations and bus stops. All TOP offices have CCTV security coverage systems with long term video storage. Data Security is among the top priority and TOP has made investments in Firewall’s to ensure safe and secure experience. To know more or to visit TOP offices, reach out to us at 08999 828282.

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The Office Pass (TOP) Coworking Office Space at Unitech Cyber Park, Gurgaon

10 Ways In Which Coworking Offices Help Deal With Stress At Workplace

by | posted in: Coworking | 0

Irrespective of the company size, industry, or structure, workplace stress is an issue. Unchecked stress not only lowers productivity, but also wreaks havoc on the individual’s physical health. The causes of workplace stress range from high workload and lack of support from seniors to interpersonal issues and work life balance. 

When you’re working out of an independent office, there are limited steps an organization can take to manage stress in the workplace. However, coworking spaces are bigger and can do much more to create a positive environment for people / workers / employees. 

As per a study, the major cause of work related stress are 

Major causes of work related stress

Source: Raconteur

10 Ways How Coworking Offices Are Helping to Deal with Stress

Here are a few 10 simple ways in which coworking offices are helping deal with stress at the workplace as given below

  1. Be Part Of A Non-Competitive Community
  2. Shorten Your Commute Times
  3. Take Advantage Of Flexible Work Hours
  4. Work from home #WFH
  5. Get Access To Break-Time Facilities
  6. Brainstorm With A Friend
  7. Sip A Cup Of Tea / Coffee
  8. Find Like-Minded Company
  9. Participate In After-Work Activities
  10. Pick A Seat To Suit Your Mood

Managing Workload: employees and workers cite high workload as the main reason for stress at workplaces. Coworking can help mitigate this stress in more ways than one. 

1. Be Part Of A Non-Competitive Community

Being in a coworking space makes you part of a community that is collaborative and non-competitive. There’s no one trying to overshadow you for a promotion or take credit for your work. You can share ideas, ask for help and give help freely. You could even find a mentor to guide you. This makes it a more positive space to work in. This is also something that you cannot practice, if you are working with people who are always competing with you.

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2. Shorten Your Commute Times

A survey found that 54% of workers felt that workplace stress had a negative effect on their life at home. The frustration experienced in the office coupled with a long commute and no way to express it often leads to excessive venting at home. Coworking spaces are typically closer to residential sectors and hence the daily commute required lessens considerably. This gives them more time and home and, in turn, improves their work-life balance.

3. Take Advantage Of Flexible Work Hours

Not everyone is their most productive self at 8 am. Coworking spaces are open for extended hours. This gives professionals the flexibility of setting their own work schedules. For example, let’s say someone has to take time off during the day to attend their child’s PTA meeting. He/she can start the day earlier so that their tasks get done on time with minimal additional stress. 

Flexible Work Hours

Source: Flex Jobs

4. Work from home #WFH

During the Covid pandemic, several companies shifted to #WFH as a preferred way to work. The initial #WFH experience was good and gave a much needed break to the employees but it came at a big long term cost. The line between office timings and personal time became blurred – the work kept coming – with complete dis-regards to agreed working hours. A Coworking space helps in drawing a line between work time and personal time. This helps in achieving a good work-life-balance which in turn reduces stress.

5. Get Access To Break-Time Facilities

One of the most common tips for managing stress in the workplace is to take a break from time to time. Coworking spaces are designed as large open-format workplaces with dedicated break spaces. At any time, you can get up from your desk and take a quick walk around or sit down with a friend in the common spaces to take a break.     

Managing Lack Of Support: Human beings are social creatures. They rely on others for support, strength and guidance. A coworking space helps to manage lock of workspace support in many ways.

6. Brainstorm With A Friend

Facing a problem for which you don’t have a solution makes the work more stressful. In a coworking space, there’s always someone you can brainstorm with and seek help from to overcome such challenges. Knowing that help is available eases your stress levels and helps you achieve more in a day.

7. Sip A Cup Of Tea / Coffee

Having a cup of tea or coffee can drop stress hormone cortisol levels by 53% of the baseline levels within an hour. Most coworking spaces have self-service tea and coffee vending machines where you can get a cup of tea anytime you’re feeling stressed out. You don’t have to worry about going out to the neighborhood tea shop.  That said, try picking a green tea, having too much caffeine can make you more agitated. 

8. Find Like-Minded Company

A growing number of companies are adopting a hybrid work culture. Loneliness experienced while working remotely is one of the downsides of this new work culture. Working out a coworking space addresses this issue and the effect it has on stress. You can have plenty of like-minded professionals to work with and you don’t have to feel disconnected just because you aren’t in the company’s central office. 

Managing Changes At Work: Frequent changes at work is an important stress factor for employees. A coworking space is ideal in managing this.

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9. Participate In After-Work Activities

Coworking spaces regularly organize post-work activities for their members. From pitch meetings to game nights, there are plenty of stress-busting activities you can participate in for stress management in coworking offices. You could also find someone to teach you yoga and meditative breathing techniques. Not only does this ease stress, but it also helps forge stronger bonds with other professionals working in the space. 

10. Pick A Seat To Suit Your Mood

Your immediate surroundings can have a big effect on stress management. There are times when you don’t want to have people around you and others when you want to be part of a group. With the flexible seating options offered by coworking spaces, you can pick where you sit each day according to how you feel. Thus, there’s less risk of being disturbed on days when you have tasks that demand your focused attention. 

Finding The Most Stress-Free Coworking Space

If you’re looking for a coworking space in Delhi, Noida or Gurgaon where you can work in a stress-free environment, take a look at the facilities managed by The Office Pass (TOP). Each coworking office is designed to be a bright, friendly space with a host of amenities ranging from tea and coffee machines to break-out areas. Reach out to us at 089998 28282 to take a tour of the space and see how moving here could lower your stress levels.

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5 Ideas To Seamlessly Transition From Work From Home (WFH) to Coworking

by | posted in: Coworking, Work From Home | 0

Work From Home (#WFH) is no longer an unusual concept. It has proven beneficial for corporates as well as their employees. That said, it has its downsides too.

Keeping yourself motivated when you are the only one working and other family members are watching movies or the maid is asking for instructions can be challenging. Balancing work and personal life can also become harder.

What is your biggest struggle with working remotely?

Source: Better Up

For team managers and corporates, having team members follow a WFH concept may mean that they have to do without access to tools like high-speed Wi-Fi, printers, etc. At the same time, having experienced the benefits of remote working, not everyone wants to move back to the traditional workspace.

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Many organizations are struggling to bring employees back to work and coworking has emerged as the ideal solution. Here are 5 ideas to smoothen the transition from WFH to Coworking.

5 Ideas To Seamlessly Transition From WFH to Coworking

  1. Find A Coworking Space Close To Residential Areas
  2. Choose A Space That Is Easily Accessible
  3. Prioritize Employee-Centric Facilities
  4. Create A Transition Plan
  5. Design Standard Operating Procedures (SOPs)

1. Find A Coworking Space Close To Residential Areas

One of the biggest WFH benefits is the time saved in commuting to work. It has given employees more time to spend with their families and made them more productive. Hence, coworking spaces need to be closer to residential areas of the city. It’s one of the reasons for the fast growth in the number of coworking spaces.

A study found that 64% of coworking space providers consider their location to be their most important USP. 

Source: Coworking Statistics

Ideally, look for a coworking space provider with multiple coworking spaces spread out across the city. This can empower your employees to choose coworking locations that are closest to their homes while centralizing your lease management.

2. Choose A Space That Is Easily Accessible

Accessibility is as important as location when choosing a coworking space. While it may be close enough for some employees to work, others may have to drive or ride the metro. For those walking to work, ensuring that the roads are well-lit and clean is a priority. 

Similarly, for people driving to work, having adequate parking is essential. This is also important for clients who may come to the coworking space for meetings. Further, you need to make sure, it is at a walkable distance from a metro station or on a road where public transport is easily available.

3. Prioritize Employee-Centric Facilities

Printers and meeting rooms may help with productivity but they don’t do much for employee happiness levels. A study showed that happy employees can be as much as 20% more productive as compared to unhappy employees. Being happy in the workplace for employees translates to feeling heard and valued. Hence, when you’re comparing shared workplace solutions, make sure you pay adequate attention to your employee’s needs. 

They need ergonomic furniture, a kitchenette with a microwave to heat lunch, a coffee machine, lockers, a vibrant cafe and so on. Having access to a gym, pet-friendly amenities and access to after-work networking events are valuable perks too.

Most popular coworking space perks

Source: PR NEWS WIRE

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4. Create A Transition Plan

To ensure that your team experiences maximum coworking model benefits, you need a plan. This transition plan must be well-thought-out and designed keeping your employee’s work commitment and well-being in consideration. You then need to inform your employees of the plan and make them aware of what to expect from the environment in the coworking space.

You can show your employees photographs of the selected coworking spaces as well as share detailed plans of the location, layouts and available infrastructure. Some coworking spaces will also be willing to give your employees a tour of the offices so that they can get a clearer picture of what working in the space will be like before they actually sit down at a desk.

5. Design Standard Operating Procedures (SOPs)

While technology-related issues are resolved, some WFH challenges carry forward to coworking spaces too. Communication and collaboration are probably the most important. Some employees may also find it difficult to access certain company resources. 

What problems you have faced while working from home?

Source: Zdnet

The solution lies in creating SOPs that put all stakeholders on the same page. Giving employees step-by-step instructions and reporting structures can streamline processes and minimize work interruptions. This should ideally cover all aspects of the business such as operations. HR, legal, accounts, etc. 

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Finding The Right Coworking Space

As the coworking space demand grows, so does the number of options available. According to a newspaper report, 2021 alone saw the coworking sector grow by almost 5 million sq ft. With so many options to choose from, finding the right coworking space becomes important. You need a space that meets your infrastructural needs as well as employee comfort requirements.

If your company is based in Delhi, Noida or Gurgaon, The Office Pass (TOP) has the ideal coworking space. Choose from one of the 14 locations. Each coworking office is easily accessible, safe, secure and designed to boost productivity while giving members the opportunity to become part of a professional community. To know more, reach out to us at 08999 828282.

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