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I want to launch a social networking site but I need a proper team to do it, but who are the key players to have it launched when there is little funding. I am the idea person and not a tech person - I am lawyer with many years of practice at managing people.

There will be a test created by a famous somebody that will need to be coded and designed, and it is integrral to the business idea.

I have been told that I need a CTO as co-founder and at other times that I need a CMO as co-founder? I need a co-founder that will successfully help execute the idea and we can outsource a lot of the other services?

I look forward to hearing from you.

Thanks

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2 Answers

If you know enough about the features and drive then technology implementation isn't really that difficult in the first stage. Get a development company to implement those features and setup you up properly. The good ones will advise you along the way until you can get a suitable CTO (but I wouldn't leave it too long).

The marketing and getting traction is far harder especially with social networking sites ... if it remains a ghost town too long then nobody will stay around. Get the right CMO and get them started on the hype before the developers finish writing the code.

Though I would caution, don't try to get individual programmers or try to put a team together yourself if your not from a development background, that is asking for trouble ... find the CTO first and let them do that longer term.

DISCLAIMER: This answer is a little biased (I run a venture development company) but from long experience picking developers is hit and miss even when you know what your looking for. To balance it, don't rely on the external company to play the CTO forever, most other roles can be done on a contract basis but the CTO represents a core part of the value of your business and will likely form a considerable part of the "sale conditions" should you go for a trade sale.

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IDEA + Technology (implementation) First - Get a CTO-to-be who can now drive the project by himself (or outsource help if there's little funding). CMO comes later, perhaps when there's a prototype and you're ready to start thinking how to launch a beta.

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