Infographic: Do You Really Need A Co-Founder?

Here's how to find out whether on-boarding a co-founder is in the best interests of your startup or not.

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Should you start a business with a co-founder? Or is going solo the right decision for the long run? To answer this age-long dilemma that has often plagued the minds of entrepreneurs, the team at OnDeck, a US-based online financial lending platform for small businesses, conducted a nation-wide research in June 2022.

Among the many themes the report delved into, the main topic of contention revolved around the perceived advantages of having a co-founder, and whether they held out in the long run. The team surveyed seasoned entrepreneurs, business owners and academics to create a series of infographics and flowcharts that help entrepreneurs decide on whether on-boarding a co-founder is in the best interests of their venture or not.

The following infographic is a culmination of four separate flowcharts that deconstruct the following topics: the challenges of going solo, the data behind co-founding partnerships, the analysis of whether a co-founder is truly needed, and the pros and cons of having a co-founder. For more information on how the research was conducted, and other information, please click here.

Source: OnDeck

Related: An Investor's Viewpoint: Here's What Entrepreneurs Should Look Out For In 2023

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