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As a former start-up investor and co-founder and CEO of the billion-dollar Carro auto market, Aaron Tan knows a thing or two about running a business.
But if he had one piece of advice for other future entrepreneurs, it would be this: don’t go it alone.
“I’m not sure if I’m qualified enough to give advice, per se. But I would still say you should try to find a core team,” Tan told CNBC Make It.
For Tan, 36, this was essential for his business.
You must first find that group of friends who are ready to take the step of faith with you.
Aaron Tan
co-founder and CEO, Carro
When he was first inspired to create an algorithm to help car buyers and sellers compare the best deals across Southeast Asia, he quickly recruited his friends from Carnegie Mellon’s School of Computer Science to join him on his journey.
Tan is Singaporean and his co-founders Aditya Lesmana and Kelvin Chng are Indonesian and Thai respectively. This meant that together they had a much better understanding of the markets they were targeting and the problems they were solving – more than Tan ever would have done on his own.
“One thing I always thank is that my team tends to be very international from day zero. It makes it a lot easier for us when we enter a market,” Tan said.
Aaron Tan, Co-Founder and CEO of Southeast Asia Automotive Market Carro.
Auto
It’s advice that dates back to Tan’s early days as a venture capitalist (VC) investing in companies in the United States and Southeast Asia.
A strong founding team is important for a start-up, he said.
“As a former VC I saw companies and we didn’t invest, mainly because there was a strong person and there were no co-founders,” Tan said. .
what is very important is to support each other, and moreover to complement each other.
Aaron Tan
co-founder and CEO, Carro
“For me, what is very important is to support each other, and moreover, to complement each other,” he added.
According to Tan, a founder’s ability to build a founding team is a good sign that he is aware of himself and understands his strengths and weaknesses. But it also demonstrates their ability to convince others of their vision.
“You will know whether or not you are able to start a business after a while because you will be able to find more people who believe in travel,” Tan said.
“You first have to find that group of friends who are willing to take the leap of faith with you before you can find the next 100, the next 1,000 people to grow your business,” he said. .
Don’t miss: How 3 college friends built a billion dollar business selling used cars
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