What is founder? Distinguishing Founder from Co-founder and CEO

Founder, Co-Founder and CEO are all common terms in the business field, but each position will have different roles and responsibilities. In this article, let's explore with 1C Vietnam what the concept of Founder is, compare the differences between Founder, Co-Founder and CEO, to help businesses better understand the role of each position in building , develop your business!

1. What is Founder? What is Co-Founder?

Founder is the person who creates, initiates and builds the foundation for a business or organization. Founder directs operations and decides on strategies to maintain and develop the company. At the same time, they are also responsible for management risks as well as investment decisions.

Co-Founder is a co-founder, usually with two or more people collaborating. In the founding team, the leader and the person who contributes the most is called the Founder, and the remaining people are Co-Founders.

2. Similarities and differences between Founder and Co-Founder

When starting a business, the terms "Founder" and "Co-Founder" are often used, but not everyone clearly understands the difference between these two concepts. Below are detailed suggestions:

Similarities: Both Founder and Co-Founder are co-founders of the business, participating in establishing and developing the initial foundation of the business/organization.

Difference:

3. How is a founder different from a CEO?

Founder and CEO both hold the highest leadership positions in a business. However, a Founder can hold the role of CEO, while a CEO does not necessarily have to be a founder. CEOs can be recruited to manage company resources and advance the Founder's original vision.

In addition, CEO and Co-Founder are often confused with each other. The CEO is the head, responsible for leading the entire company, deciding on business strategies and ensuring effective operations. Meanwhile, Co-Founders often focus on shaping initial ideas, participating in the company founding process and can take on other positions depending on development.

4. Founder's role in the company

Understanding what the concept of Founder is, it can be clearly seen that this is a position that plays an important role in business operations. Specifically:

4.1 Establish the mission, vision and development orientation of the organization

Founder is the person who initiates the establishment of the company and comes up with the original idea. They have the important responsibility of defining goals and creating strategic plans to achieve them. The Founder's vision and strategy need to be broad to guide the entire organization in the long term. However, to do this, the Founder needs support from team members and sometimes needs to seek cooperation from external partners.

4.2 Establish a leadership team

Right from the early stages, Founder needs to attract an excellent leadership team with multi-industry experience such as CEO, COO, CFO, CMO and other department directors. Founders often hold the position of CEO to make strategic decisions for the business and create a positive working environment to attract and retain capable members.

4.3 Main sources of capital during the establishment period

Capital is a necessary condition to establish a startup company. If capital is lacking, no startup company can get past the early stages. Founders need to understand and know how to stabilize cash flow through personal capital investment or finding other investors.

4.4 Building a team of staff

Employees are the key factor that helps businesses develop quickly and effectively. Founder is responsible for finding talented, experienced, and capable employees, while creating a positive working environment and healthy company culture. Attractive benefits and training courses are provided to encourage employee growth and contribution.

4.5 Build a network of customers and partners

From the beginning, the Founder will be the one to directly look for partners and customers to share the vision and value that a startup can bring. From there, they can build a strong network to help businesses access greater resources, effectively supporting the stage of creating a foothold in new markets.

In order for the process of building a customer network to be quick and effective, the Founder must ensure that the company has the capacity to fully meet the requirements, needs and expectations of partners and customers as well as create trust. , prestige to reach long-term cooperation agreements.

5. Qualities needed to become a Founder

Founder is an important position, determining the existence and development of the business. Therefore, to become a genuine Founder, each person needs to practice the following qualities:

• Intense passion: Passion and enthusiasm in a field are the most important factors. They promote continuous learning and a desire for experience. Thanks to this, new Founders can implement their ideas with perseverance and enthusiasm, overcoming all challenges.
• Assertiveness: People with qualities to be Founders have a "natural instinct" in seizing opportunities and being decisive in all tasks. Always mentally preparing to face all difficulties and challenges is the key to success.
• Confidence: A strong mentality and confidence are prerequisites to help Founders achieve success in a fiercely competitive business environment, especially in the start-up phase. To overcome difficulties, Founders need to be able to control their emotions and be equipped with confidence to lead the company firmly.
• Flexibility: Founders need to be able to improvise and be willing to change strategies when needed. Flexibility in the face of rapid market fluctuations will help create competitive advantages for businesses in the startup phase.
• Observation ability: Founders are people with sharp observation ability, seeing the overall picture of society and grasping human needs. This helps them develop new product ideas as well as come up with strategies to increase revenue effectively.
• Ability to create relationships: Founders need to expand relationships to increase brand recognition and create new opportunities. Building connections with partners and customers will support the company's sustainable development.

6. What is the main mission of a Founder?

Besides understanding what a Founder is, understanding the main tasks of this position in the business is also very important. Depending on the company, Founder can perform different tasks. However, there are still some common tasks that most Founders undertake. Specifically:

• Shape the company's strategy and core values.
• Make long- and short-term plans, setting milestones to measure progress.
• Analyze market trends to find new business opportunities.
• Implement marketing plans to promote products and services.
• Negotiate and maintain relationships with suppliers, partners and stakeholders.
• Develop budgets, forecast cash flows and prepare financial reports.
• Recruitment, training of managers and employees.
• Represent the company's corporate image at events and seminars.
• Monitor industry news and developments to ensure you always have a strategy that creates competition for your business.
• Support all activities to ensure business success.

7. The secret to becoming a good Founder

So how to become a good Founder? Besides natural qualities, those who want to start a business can hone and perfect their skills through some of the following activities:

7.1 Get experience from startup companies

Startup companies have different operating processes than large corporations or businesses, which gives Founders the opportunity to learn practical business lessons from previous entrepreneurs. Founders also have the opportunity to experience the role of founder, thereby practicing and developing the management, leadership, and communication skills necessary for the future success of their startup.

7.2 Participate in seminars, events, and startup competitions

When starting a business, finding people who are sympathetic and share the same difficulties is very important. Participating in startup courses, events or competitions helps connect with like-minded teammates as well as create a strong network of partners for the future. However, candidates should note that they need to focus on meaningful discussions to learn and share instead of only being interested in expanding relationships too directly.

7.3 Find a good and engaged advisor

A mentor is a great and quick way to learn. Getting support from someone with business experience can shorten problem resolution time and be more effective. A good advisor can assist in making important decisions, avoid mistakes, and suggest solutions to problems that arise. They also help build affiliate networks, find funding for businesses and introduce potential partners.

7.4 Find a suitable Co-Founder

Co-Founder is not simply a copy of the Founder, but someone who can supplement and perfect the founder's weaknesses. They play an important role in balancing and developing the team. For example, if the Founder is a technical expert, the Co-Founder can bring experience in business or Marketing. If the Founder does not have financial management skills, finding a suitable Co-Founder is very important.

8. 1C:ERP solution supports Founders in effective overall business management

In order to support Founders with comprehensive business management, 1C Vietnam has launched the 1C:ERP solution. This is an enterprise resource planning solution developed to suit all types of businesses, especially manufacturing enterprises.

The main subsystems of 1C:ERP include:

• Planning and budgeting
• Customer relationship management
• Purchase manager
• Sales Manager
• Manage warehouse and delivery process
• Production manager
• Budget management
• Asset Management
• Monitor and control business results

1C:ERP solution has open-logic, allowing businesses to master technology and customize flexibly without depending too much on suppliers. In addition, the solution is also ready for Vietnamese accounting standards (VAS) and international accounting standards (IFRS), extracting real-time reporting systems. With 1C:ERP, founders or managers will optimize the working process in the business, save operating costs, strictly control KPIs and support effective business planning.

Above is a detailed article about what is the concept of Founder? What is Co-Founder? How is a Founder different from a CEO? To succeed on the startup journey, Founders, Co-Founders or CEOs can rely on support from the comprehensive business management solution 1C:ERP. To experience 1C:ERP solution, contact 1C Vietnam immediately via hotline (+84)247 108 8887; Email: sales@1c.com.vn; Website: https://1c.com.vn/