Founder

What is a founder
Main responsibilities of a founder
Key skills
Demand for the profession
How much a founder earns
Where to study to become a founder

What is a founder

A founder is a person who has established their own business. If several people start a business together, they are called co-founders. According to Russian law, a founder is considered the creator of the company, and in the case of multiple founders, they are called co-founders. The term "founder" is often used in the context of startups, although this is not a strict rule. In English, the word "founder" translates to "founder." One of the most well-known founders in Russia is Tatyana Bakalchuk, the founder of the Wildberries service.

Main responsibilities of a founder

The founder lays the groundwork for their business, starting with an idea, choosing a business model, and developing a strategy for several years ahead. Their main task is to define the goal that the company should strive for. At this stage, a founder may collaborate with business consultants, but often, novice entrepreneurs work independently. Another important task is to form a strong team of key employees. Sometimes founders work alone, especially programmers who create and develop digital products by themselves. However, in Russia, working in a team is more common, and investors often show caution towards individual entrepreneurs.

At the initial stage, even with a small team, the founder may perform several roles, such as product or sales manager. Often, these roles are divided among co-founders. For example, Alina Chichina, one of the founders of the communications agency Setters, also held the position of art director. Once the strategy is developed and the team is assembled, the founder can begin searching for investors or business angels, although some companies may operate on their own funds or borrowed money in the early stages, attracting investments only when scaling.

Over time, the founder becomes less involved in the daily operations of the company, and management transitions to top executives, while strategic development may be led by a CEO. Sometimes the founder occupies this position themselves, but this is not always the case. Research shows that this may not be the best decision for the organization. For example, Kirill Ignakhin, co-founder of Level Group, believes that his active involvement in the company's affairs contributes to its success.

Key skills

There are skills that contribute to a founder’s success, and they are divided into professional (hard skills) and universal (soft skills). The main professional skills include:

Financial literacy: A founder must be able to effectively manage finances, understand accounting, and the basics of attracting investments.
Marketing fundamentals: Basic knowledge in marketing will help a founder promote their product without resorting to expensive marketing services.
Sales skills: The ability to sell the product independently allows the founder to better understand its value and customer needs.
Specialized knowledge: A deep understanding of the product and the field of activity significantly increases the chances of startup success.

Universal skills that are also important for a founder include strategic thinking, leadership qualities, goal-oriented mindset, planning and project management skills, creativity, and effective communication abilities. Business angels emphasize that ideal founders should have a good understanding of their product, be good managers, and possess an entrepreneurial spirit.

Demand for the profession

Despite economic difficulties, by the end of 2023, there has been a growth in the number of small and medium-sized businesses in Russia. According to a study by St. Petersburg State University, while in the early 2000s entrepreneurial activity was characteristic of every 20th person, now it is for every 10th. This indicates a growing popularity of the founder profession, and it can be expected that interest in this activity will only increase in the future.

How much a founder earns

The question of a founder's salary is contentious, as much depends on the attraction of investments. If a founder operates on their own or borrowed funds, they can decide whether to pay themselves a salary or invest all the money in the development of the startup. When attracting an investor, the founder can specify their salary in the business plan, but opinions on this matter vary. Some investors believe that founders should not receive a salary, while others think they should earn enough to meet their basic needs.

Investor Leo Polovets emphasizes that the less money spent on salary, the greater the chances for successful startup development. However, a founder working without a salary may lead to insufficient motivation, as they will be forced to seek other work for stable income.

Where to study to become a founder