Two heads are always better than one. Most of the illustrious businesses were founded by relationships between two (or more) people: Bill Gates and Paul Allen, Bill Gates and Melinda Gates (he’s good at this!), Sergey Brin and Larry Page, Steve Jobs, Steve Wozniak and Ronald Wayne etc.
Choosing the right co-founder for your startup is same to putting together a jigsaw puzzle – you can not make mistakes.
Going into business with someone is not unlike marriage—it’s (ideally) long-term, you have to see this person a lot, and if the relationship falls apart, it’s likely to be for financial reasons.
Brett Crosby co-founder at PeerStreet
Starting a business on your own can be devastating and challenging. Entrepreneurship is backing when the going gets tough can be a lifesaver.
If you are ready to become a team player and make your working life easier and more efficient find the right co-founder.
Here are some tips for you.
Before making efforts to find the co-founder for your startup, you should clearly understand who it should be. We consider such lists of must-have for your future co-founder.
Find somebody who is same but not in 100% with you. Your future co-founder needs to fill a very big role in your business, that is why being same to you does not allow him/her to be defined and unique.
It is like in Formula: no two drivers, only one perfect driver (you), and perfect mechanic (co-founder).
Best time together
Be sure that this person is good to spend a lot of time with. You do not need to be the best friends, but you’ll be engaged in business 26 hours/ 8 days/week / 370 days/year.
Obviously, we like each other a lot. We have minds that work the same way to a great degree. We find the same things quite humorous and the things we deplore we agree on.
Warren Buffet and Charlie Munger
for CNBC interview
Disagree and make compromises
No agreements possible! Never choose a co-founder who will only agree with you. Best ideas emerge only in debates, and it means, that you can not be 100% right in your thinking every time.
Some of the biggest business breakups occur when co-founders can not resolve their debates and conflicts and make a compromise. Eduardo Saverin and Mark Zuckerberg’s high-profile breakup was filmed in The Social Network. Although it’s hard to determine how exactly Saverin and Zuckerberg’s relationship fell apart, what’s clear is that they were never able to resolve their numerous conflicts.
Building a startup is not easy and fast process. But you will go faster to success if you find the best person to be your co-founder.
Contact us if you want to know more or if you have your success story in choosing the right co-founder.