How to estimate the suitability of your cofounders to your early stage company?
The test called FOSE (Founders’ Suitability Estimator®) allows start-up coaches to help project leaders to better choose their co-founders by showing them a method for probing and deciding between candidates.
The “FOSE” is a tool to measure the suitability and complementarities of associates. To do this, it identifies and quantifies the typical abilities of co-founders and evaluates their interpersonal talents and entrepreneurial personality instantly through a pre-formatted behavioral assessment.
The bearer (or the team of bearers) of the project can thus know if his/her future partners have the “good” attitudes and / or if they know the “good” behaviors to adopt in a start-up.
The “FOSE” matrix is a solution to a problem often ignored by first-time entrepreneurs. Are you sure you have launched your company with the right partners? The disagreements between founders are the main cause of startups’ cessation of activity: 75% of the failures of the young companies are due to problems of incompatibility born of a bad selection of the partners and / or a bad distribution of the shares between cofounders. Thus, business marriages that go wrong are legion.
It is both a decision support tool, a diagnostic tool and a training tool (unlimited number of possible simulations) allowing the project leader to choose his co-founders probing their “entrepreneurial” capacity as well as the adequacy of their aspirations and their vision with his.
The test consists of a pool of interview questions to ask potential partners to identify especially their soft skills suitable for the entrepreneurial adventure. In other words, do they own the skills necessary for the good agreement between partners is installed in the duration?
This logical questioning supposed to reveal possible “hooked atoms” (good personal chemistry between cofounders) is constituted by a series of mini-scenarios around the main skills that one usually hopes to meet in the founders of any young shoot: the faculties of adaptation, analysis , attention to detail, communication, control, decision-making, delegation, training, flexibility, autonomy, initiative, integrity, interpersonal skills, judgment, leadership , learning, listening, cooperation, time management, planning, resilience, confidentiality, senior management, stress resistance, supervision, work ethic, self-analysis, technical and commercial skills, etc.
The evaluator, in this case the startup coach or the project leader himself, can see if the aspiring partners have responded with or without divergence.
The FOSE matrix (available in English or in French version) includes 4 tables of calculation whose parameters are modifiable:
– Detailed table (figured example)
– Summary table (figured example)
– Blank detailed table (set for unlimited training)
– Blank summary table (set for unlimited training)