There are so many challenges in a startup that no founder should try to
go it alone. An African proverb rightly states, “If you want to go fast, go
alone. If you want to go far, go together.”
If you are looking for a Co-Founder, it is best to choose someone you
know and have had a lengthy relationship prior to founding. You would already
know the kinks in each other’s personality and know how to work around it.
"The most successful true co-founder situations are ones where the
people have known each other in other contexts, prior to the company at
hand," said Andreas Stavropoulos, a managing director at Draper Fisher
Jurvetson.
Secondly, check if both of your motives align. It is said, true motivations are revealed, not declared. Take time to
find out the real intentions. If one founder wants to build a cool product,
another one only wants to make money; it might not work.
A
start up is known for volatility until it reaches a stable state. Negotiate and
document roles early on and ask the hard questions. Any investor would look for a team that can
get through the hard times, not just an impressive resume. They want founders
to "get through their first couple of fights before the money is in."
Thirdly, define major milestones and metrics for the startup together. This
process would test if you truly share a common vision and work approach.
Building a start up involves a lot of unpredictability. Two people cannot walk
together if they cannot agree on anything and expecting things to change over
time would be only throwing caution to the wind.
Lastly, it is safe to establish a founder’s agreement. Here is a good
resource Link:
Here’s to finding like-minded Co Founder with complementary skills;
people with whom you’ll feel empowered and inspired to embark on the odyssey
that is your startup!
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