"Everything in life is luck. "
- Donald Trump
A successful business needs a successful partnership. An ideal co-founder can allow you to grow in a way you had never thought of.
Having a partner is important in life. You can’t keep walking the long way alone whether it’s marriage or business. The fact is it’s not only about just having any partner. One needs to select wisely while choosing. Or it would seem like being alone could have been the right answer. To fulfill a certain goal having a good partner is a must. Two heads are always better than one for a convincing result.
Starting up a business is always a juggling act. For having your perfect match in founding the business you have to look for a sophisticated vision. Without an ideal co-founder, you might not get ahead with your business plan.
Now, to partner with a co-founder, first, you should know what a co-founder means, what can be the job of a co-founder and what he can offer to a start-up. So, to have some idea let’s have a quick look at the following:
- A co-founder is an entrepreneur who establishes and directs the activities of a start-up. He is always bound to the history of the business. He works with one or more co-founders for the betterment of the business.
- The co-founder helps to grow the business delivering the needed skills that the other business partners may lack. Having a co-founder helps you make better decisions and can get you to focus on what you are good at.
- Founding alone can be an option for a start-up. But start-ups work out better when there is a co-founder beside you. You can have access to their network and work better with the additional connections.
- A great co-founder helps to expand your horizons. You become able to grow far beyond your strengths. You can rely on someone else’s reasoning to get innovative ideas.
- Co-founder gives you a life-long relationship where you can grow together. You can go smoothly through the emotional escalators and share status that could have been a burden if you were alone. They can help to make tough calls and share rewards and regrets with you.
You should check out the following factors while finding and choosing an ideal co-founder:
You should have a well-defined set of core values when you are ready to find and choose your impeccable partner. It will help you prioritize your determination, goals, and the decisions which you are going to make. It could be a great place to start.
Balancing personality is the first thing to look at when choosing a co-founder. Don’t select someone who seems to have the same characteristics and mentality as you. Find someone who is better at skills you are poor at so that you might be able to complement each other well.
Mixed Skill Set
A start-up should have the right combination of co-founders. A mixed skill set will make your business plan more successful. While you are good at producing ideas, your co-founder should be good at selling. It won’t be beneficial if both are tech-focused. Someone with integral skills is more likely to get you a benefited future for your company.
You need to assess yourself to figure out where you excel and where you struggle. Only then you will be able to find the ideal person. You should know yourself better if you want to do something greater. Know thyself should be the motto. Then try to find someone who will be a great compliment to you.
The co-founder you will want to choose should have a shared vision with you. Sharing the same vision makes it easier to get the outcome you want. To align your vision together, you both need to have the same goal and aspiration. Common interests and a sense of shared purpose is a definite ingredient to grow a business successfully.
Drive and Motivation
Select someone who is at the same level of drive and motivation. It can be a real bother if he doesn’t feel the same level of commitment as you do. You both must have similar commitment levels or the start-up will be nipped in the bud. A good co-founder should be great at motivating when you feel discouraged. To fight challenges that try to kill your passion, talking to each other can be the only source of motivation. So, choose wisely keeping this in mind.
Trustworthy or Not
While looking at the people in your network, look for the characteristics you’ll like to see in them as the key criteria. Choose someone you can trust in handling the responsibilities. While picking a partner keep in mind that it shouldn’t be someone who might make people question the ethics of the company. He has to be someone who will make sure to fulfill his duty properly.
Tenable and rational
You should try getting someone realistic who is practical in his thinking, who can give rational decisions after counting the consequences. This will allow you both to spend wisely and grow eventually. Choose someone who will be logical and is good at making realistic decisions.
Demeanor and Attitude
Pick someone who is well-behaved. Controlling behavior is requisite. Avoid people who are power abusive or someone overly concerned with satisfying others. A good co-founder should have a voice of his own and should not be afraid of any disagreement. It has to be someone who always is ready to talk about anything and everything that is needed to be discussed. He has to be well-mannered in the way he approaches. Elect someone with an appropriate attitude.
Look for a partner who’s a compliment to your thinking style. Don’t look for a person who is optimistic if you are already a blind optimistic person. Check out if the chosen one is a little bit pessimistic or not. You have to choose a person who will let you know about both sides of any opinion. Pick someone who bears your opposite outlook. It will help to ensure whether your planning and progress are unbalanced or not.
You should look for someone who has a great understanding of power. Understanding each other is very important in building a business. When managing other team-mates, this impression is greatly required. Understand that the co-founder proves to be a good team player. He will be able to maintain a good and soulful environment among the team members.
An ideal co-founder should have an independent voice. While picking a co-founder keep in mind to check out his criticism ability. Don’t forget to mark if he is only saying what you would like to hear. Choose someone who can give you constructive criticism which will help you to think about what you are doing thoroughly.
The question is where to find such co-founders. To choose someone, first, you have to find the candidates you like. You should meet more people before taking anyone as your partner. There are several sites to look for if you don’t have that much of a network. Looking for a co-founder you may like to consider the following steps:
- First, look around your network. There may be some people with whom you would like to share your thoughts. Talk to the people who are likely to have the same kinds of interest as you hold. Discussing with them will make you clear if they can be the someone you want for your start-up.
- If you don’t prefer the people who are around you or in your network or you don’t have any network at all then you might like to attend the networking events. Gone are those days which offered you to rely only on your local network. Now you can meet new people attending start-up events in large cities. To find a potential co-founder you will get lots of chances here.
- There’s something known as founder dating events. You may look for your ideal co-founder there. Meet new people, talk to them. Don’t hesitate to discuss your thoughts.
- Different groups on social media can help find a great co-founder. You can talk and search for like-minded individuals there. Many search groups on social media might be helpful in this case; LinkedIn, in particular, offers such opportunities.
- Several sites can be useful in finding the perfect co-founder you are looking for. Founder2be, YouNoodle, FounderDating are some unique platforms and sites which may help you to find several co-founders and entrepreneurs who might be interested in what you offer.
Search, discuss, and choose. Don’t be impatient or hasty. A co-founder is going to be someone with whom you will share many aspects in the future. He might become your best friend if you choose wisely. So, select someone with whom you will be able to grow the business as well as a great life-long relationship.
Wishing you a great and fruitful start-up!