Insights on the founder journey at the Turks in Tech London Event
Last week, our founder Gokce Gizer Clover joined the panel at the Turks in Tech UK event, alongside Yigit Akar, CEO & Co-founder of xWatts, and Asude Altintas Guray, Cofounder & CEO of Twin Science & Robotics.
The event gathered tech enthusiasts, entrepreneurs, and professionals to network, share ideas, and learn from industry leaders in a relaxed and informal setting. From seasoned tech experts, to those just starting their journey, the event offered something for everyone!
On a panel hosted by Beril Oturmazer, we discussed a range of topics on the entrepreneurial journey, such as taking an idea to product, global expansion and fundraising, building a team and cofounder dynamics, corporate partnerships to unlock expansion, and the critical role of resilience.
Key insights:
Cofounder Dynamics
Having a good cofounder dynamic goes beyond just compatible skills. To establish a healthy cofounder relationship – and business – that can thrive, you must also work well together, and have an alignment of values, purpose, and commitment. During the panel discussion, we explored the “must-haves” in cofounder relationships:
Clarity of vision – working toward a common vision is crucial in establishing the purpose that drives you to building a business. Founders must communicate the “why” behind their venture, so that they can work towards it together.
Alignment of values and work ethic – all founders must have the same base values when it comes to their business. A company cannot grow from a dysfunctional foundation. Also, all founders must have a similar work ethic, and be willing to bring proportional effort to the growing of the business.
Commitment to purpose – once the purpose is established, there must be equal commitment in working towards that purpose.
Love – it is so important to have love for your cofounder. This is the person you are going into this adventure with, the person who will share your wins as well as your losses. Without love, the cofounder relationship breaks down – and by proxy, the business itself.
Further to these insights, founders must do the individual introspection work to understand their own values, dreams and insecurities, so that they can then share it with their fellow cofounder to better understand each other’s perspective when making important decisions for the organization.
Choosing the right accelerator or startup program is key to your trajectory
A rigorous program (such as one like Antler) that challenges you and contributes to your growth is an important step in scaling your business. Programs like this can support you in finding the right cofounder from a hand-selected group, allowing you to get to know each other in the program – understand their ways of working, their values – and helping you to make the choice to go into business with someone beyond just a compatibility of skills. These accelerator programs also help you to form connections with the right mentors and investors.
Focus on delivering product bootstrapped and even becoming profitable as early as possible.
It’s not about becoming the next “unicorn”, anymore. Panellists have been observing a mindset shift in fellow founders in later stages. There is no longer an emphasis on raising big rounds and burning through cash to grow. The focus is more on building a robust company, and finding the right partners and investors through an intentional process to achieve sustainable growth and profitability. This also puts you in a better position to raise funds.
Thank you to everyone in the Turks in Tech London community for coming out, engaging with us, and sparking these insights with your questions!
And a special thank you to Beril Oturmazer and Joseph Selimoglu for hosting, and creating such a fantastic event!
