Founder, COBOL Modernization

As the Founder/CEO for COBOL Modernization at Forum's Venture Studio, your primary responsibilities include launching the venture, leading the strategic vision and direction, and navigating the complexities of technology change management in financial services. You will also oversee the development of innovative solutions that modernize COBOL applications, ensuring that they contribute positively to the financial ecosystem. Managing investor relations, building a talented team, and developing effective go-to-market strategies will also be essential parts of your role.

The ideal candidate for the Founder/CEO position focused on COBOL at Forum's Venture Studio should possess significant experience in technology change management, particularly within the banking, insurance, and government domains. A proven track record of successfully building startups from the ground up is vital. Additionally, a strong commitment to leveraging technology for transformative impacts and the ability to work collaboratively across North American time zones will set you up for success in this role.

Forum's Venture Studio supports its Founders by providing a $250K USD investment alongside a detailed fundraising playbook, access to a network of investors, and resources tailored to streamline company growth. Founders benefit from collaboration with a team of experienced professionals in areas such as business designing, product development, and marketing. Plus, the community aspect offers invaluable mentorship and insight from peers and leaders who understand the entrepreneurial journey.

Forum's Venture Studio cultivates a rich network that includes seasoned investors, successful founders, and industry experts. This network is instrumental in providing guidance, access to funding opportunities, and potential partnerships. By connecting with this vibrant community, Founders can tap into essential resources that can help accelerate their company’s development and market success.

No, the Founder/CEO role for COBOL Modernization at Forum's Venture Studio is not an employment opportunity. Instead, it is an entrepreneurial role where you will have equity in the new venture. Forum provides support, investment, and resources, allowing you to develop your startup while maintaining the majority ownership and direction of the company.

To modernize COBOL applications, I would start by conducting a comprehensive assessment of the existing codebase and identifying the key areas needing improvement. Leveraging generative AI tools, I would aim to facilitate the transition of COBOL to modern languages while training new developers to bridge the skill gap. Establishing a clear roadmap outlining phases of modernization and aligning these with the business goals would be crucial.

Attracting talent requires creating a compelling value proposition that emphasizes the vision and impact of our work on COBOL modernization. Fostering an inclusive, innovative work environment where employees feel valued and have opportunities for growth is key to retention. Implementing mentorship programs and regular feedback loops, as well as competitive compensation, would also play critical roles.

In my previous ventures, I focused on identifying market needs and validating the business idea through customer feedback and iterative development. I led teams through phases of product design, MVP launch, and scaling operations while effectively managing resources and investor relations. My hands-on experience in navigating the complexities of starting a company has equipped me with valuable insights and resilience.

Community plays a vital role in a startup’s success by providing support, resources, and networking opportunities. Engaging with a community of peers and mentors who have faced similar challenges can deliver insights and encouragement during tough times. This network opens doors to partnerships, collaboration, and invaluable feedback that can help steer the company in the right direction.

I envision utilizing AI technologies to create tools that enhance developer productivity, automate routine tasks in COBOL programming, and provide insights into optimizing code. By integrating generative AI into our processes, we can accelerate the modernization journey, reduce errors, and ultimately make the transitional process smoother for legacy systems.

Handling resistance requires a respectful approach that acknowledges the value of traditional COBOL practices while demonstrating the potential benefits of modernization. I would engage in open dialogues with traditionalists, providing data-driven insights on how modernization can coexist with existing frameworks to improve efficiency and effectiveness.

Key performance indicators include customer acquisition rates, revenue growth metrics, development cycle times, and customer satisfaction scores. Additionally, tracking employee engagement and retention rates can gauge the internal health of the company. Regularly reviewing these metrics allows for agile adjustments to strategies and operations.

Building the initial version of the product involves understanding the core problems faced by existing COBOL users and developing an MVP that addresses those issues. I would prioritize user-centric design, invest time in customer feedback loops, and ensure our features deliver real-world value before scaling up.

My go-to-market strategy would involve a mix of inbound and outbound marketing, leveraging thought leadership content that addresses key pain points in the COBOL sphere. I would also focus on building partnerships with tech firms and institutions that align with our mission, using these alliances to enhance visibility and credibility in the market.

I am drawn to the opportunity at Forum's Venture Studio because of its commitment to transforming ambitious ideas into groundbreaking businesses. The support provided for navigating the challenges of early-stage startups aligns with my vision, and I am excited about the prospect of creatively addressing the urgent need for COBOL modernization while contributing to meaningful technological innovations.