Aaron Tan is a former startup investor, co-founder and CEO of $1 billion car market Carlo, so he knows a thing or two about running a business.
But if he had one piece of advice for becoming a second entrepreneur, it would be: Please don’t go it alone.
“I’m not sure I’m qualified enough to give advice, but I do say that I should always try to find a core team of people,” Tan told CNBC Make It.
For 36-year-old Tan, it was crucial to his business.
When he was first inspired to create an algorithm that would help car buyers and sellers compare the best deals in Southeast Asia, he immediately joined a friend from Carnegie Mellon University’s School of Computer Science on the journey. . I was given permission.
Tan is a Singaporean and his co-founders Aditya Resmana and Kelvin Chan are Indonesian and Thai respectively. This meant that they simultaneously had a better understanding of the markets they were targeting and the problems they were solving.
“One of the things I’m always grateful for is that my team goes from zero days to very international, which makes getting into the market a lot easier.” Mr Tan said.
This advice reminds us of Tan’s early days as a venture capitalist (VC) investing in companies in the United States and Southeast Asia.
He said that a strong founding team is important for a startup.
“As a former VC, I looked at the company, and we didn’t invest, mostly because there was one strong person and no co-founders,” Tan said.
“It is very important for me to support each other and complement each other in this matter,” he said.
According to Tan, the ability of founders to build a founding team is a good sign that they are self-aware and understand their strengths and weaknesses. But it also demonstrates his ability to convince others from his point of view.
“We’ll be able to find more people who believe in travel, and after a while we’ll see if we can start a company,” Tan said.
“First, before you find the next 100, the next 1,000, to grow your company, you need to find a group of friends with you who are willing to accept the leap of faith,” he says. I did
Have a look at this: How three college friends built a billion-dollar business selling used cars
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