An article we liked from Thought Leader Greg Miaskiewicz of Capbase:
How to Find the Right Co-Founder for Your Startup
If your startup has two founders instead of one, you can expect 30% more investment, triple the customer growth rate, and a higher likelihood of success.
Clearly, going solo has its drawbacks. But when it’s time to bring on a co-founder, where should you start?
Before you start the hunt, put together a checklist. What you need from a founder will depend on your industry, your goals, and your own special skills. But anyone in search of a co-founder should be on the lookout for the following.
When your skills overlap too greatly, you and your co-founder may end up struggling for control over the same parts of your business. Instead, look for ice to your fire, peanut butter to your chocolate: Your perfect opposite.
Are you a born networker, obsessed with your industry, and great at fundraising? Look for a software engineering genius and behind-the-scenes management expert. More comfortable with github than glad handing? Find a social butterfly. The more unlike each other your skill sets are, the better you and your co-founder will be able to support each other.
Communication is essential for healthy romantic relationships. The same goes for business. Even if your co-founder operates in a different hemisphere, they should be able to work with you to make sure you’re both on the same page and fully updated about the progress of the business. When miscommunications crop up, it’s a sign of worse to come—so make sure your channels stay open early on, and your co-founder is serious about staying synced.
Shared values and goals
Looking to quickly launch a viable operation, prove profitability, and sell? You’ll have trouble with a co-founder who wants to build an empire from the ground up.
Make sure you’re in agreement on the following:
- Vision. Where do you see the future of your niche? What do you both agree your competitors are doing wrong or right?
- Commitment. Is your potential partner a 24/7 workaholic, or are their weekends sacrosanct? Is this their only obligation, or are they co-founding half a dozen other companies?
- Communication style. Hopefully you communicate with each other well. But how? Is your co-founder a...
Read the rest of this article at capbase.com...
Thanks for this article excerpt to Greg Miaskiewicz, CEO/Co-Founder at Capbase.
WHAT’S YOUR NEWS? - Submit your company news, deals, opinions, or job listings here for FREE PUBLICITY.
OR, WHAT DO YOU THINK? LEAVE A COMMENT BELOW!