If you must, then you must find the perfect person – your other half. Ugh…No! I’m not musing about finding your one true love for a forever happily-ever-after. I’m talking about finding the right co-founder for your startup venture or partner for your business.
You are building a new startup or perhaps still brainstorming some startup ideas. That’s so cool. Starting a venture from scratch up can be very difficult and also very demanding.
Do you believe finding a co-founder would be a great move for you and your startup? That’s awesome!
Finding a co-founder for your startup can equally be a challenging feat. But with the right person as co-founder, your venture could be heading in the right direction and with the right motivation. Having the wrong person as a co-founder would certainly dampen progress. In more dire situations, the wrong choice of co-founder could lead to the death of a startup. And that, you and certainly no one would want. So there goes the big question: How do you choose the right person?
You most certainly should start within; that is from you.
1. Define Who You are Looking For and Your Expectations
Mhmm…exactly what I meant by – starting from within. You, as a founder, should be able to define who you are looking for and what you expect. A job description does not express your expectations.
Look at it this way. Take a job description as, what has to be done. And your expectations, as the way it should be done, kind of results required, or how to strike the right work-life balance. You get it now, don’t you?
2. Operational Skill
What is your operational skill? What skill sets do you want from a co-founder? As obvious as this may appear, I’d mention it anyway. You should look for complementarity.
Choosing a partner with a different skill that complements yours is a great move. Having the same operational skills and role as your co-founder could lead to a lack of synergy. If you are a tech expert and your startup is a product, a good choice could be getting a co-founder, who is great at sales or marketing, perhaps. This way, your diverse operational skill, and strength create a good space free of collision.
3. Consider the Personality You Like
You don’t have to put up with anything. You won’t be able to keep up. A lot of people believe the best co-founders are friends. That has its own bad sides though. But, the idea is that your co-founder is a personality with an attitude that working with is comfortable.
4. Should Share Your Values And Principles
This part is a bit tricky because you can’t always find someone with the same values and principles as you. Family, religion, peers, etc. make sure of that. Nonetheless, you should get as close to perfect as you can. Communicate your values clearly and strongly.
5. The Motivation
Different entrepreneurs have different motivations. Your potential co-founders would have passions and motivations that you should know. So, find out. Are they looking to build a product? Want to render services instead? Or passionate about building a CV.
Remember the thing about expectations? Do these passions fit into your startup idea?
6. Your Co-founder should be Self-reliant
A co-founder should be someone who can run operations and handle affairs well, even in your absence. Although this is required of all team members, it is essential for your co-founder. Operations must carry on whether or not you are available.
7. Work Habit
At this point, you should look out for someone with comparative work habits. Work habit is a trait you should share with your co-founder. Matching work habits improves communication and synergy. If you are an early worker, then your best fit would be someone who does too.
I guess now you know everything you need to know about finding your perfect co-founder. Find yourself one. Take your time – no pressure.
When you finally find a co-founder, make it formal and legally binding. Get it properly documented. This is to keep expectations clear and to keep you from screwing each other over.
Until next time, remember to reach for near perfect! See you around.