Question: What is the most valuable technical skill non-technical founders should possess?
Ability to Communicate With Technical People
"A non-technical founder doesn't need to be able to code, read code or even understand intricate technical solutions. But a non-technical founder must absolutely understand the basics of the technical side of their business and be able to communicate clearly with their development team about technical topics. This will make both the technical and non-technical people more comfortable working together and respect each other more."
Ability to Analyze
"My background is in finance, and I used to do a lot of financial modeling when I was working at the hedge fund. When we were creating products for our company, I took into account everything that would be considered a cost for our company, from physical items that we would need to purchase per client to the amount of labor hours spent on the client. This would allow us to know the operating margin of our business within the retail price we were advertising. This also lets you clearly see how you can cut costs by determining if the hours spent can be done faster with new technology, better staff or by eliminating unnecessary steps in the process. Also, it lets you know your break-even point in your business if you notice a profit is not possible for a longtime pivot the business. "
Ability to Decipher Code
"Even if you have limited technical skills, at the very least you should learn very basic HTML. I have found that throughout the years -- even with basic HTML skills -- I have been able to save thousands in programming costs by simply being able to edit simple things in code such as links and images."
Desire to Learn More
"Even if you aren't a developer, you have to understand the software development life cycle and the rhythm that a developing team follows. If you have ever requested that something be developed and deployed in a day or two and said (or even thought) the words, "But it's so simple! It should only take five minutes to build," then you do not get it."
Ability to Create Automation Systems
"The greatest technical asset you can posses is understanding how to create systems in your business to automate it. By creating a flow chart and a process for automating your marketing, you can greatly increase your conversion rates. You should also be able to speak to developers and provide them a framework for what you want to get done. Create mockups of what you want; it will save you from pulling out your hair and your developer from driving himself crazy."
An Understanding of Spreadsheets
"You need to know how to analyze data about your business, and the best tool on the market to help you do so is Excel. Be comfortable setting up formulas and charts so that you can interpret the numbers relevant to your business."