Wednesday Wisdom: How Finding the Right Co-founder Determines a Startup's Success?
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1. Marriage of Interests
Selecting a co-founder is one of the most important decisions one makes in their business. It’s like a marriage, which won’t last in case of conflict of interest. Hence, ensure that you both are on the same page, for everything.
2. Not Competition
Starting a business together entails collaboration with no space for competition. Only the co-founders who think alike, dream alike and have similar core values can take the startup ahead.
You might not be good at tech and hence, your co-founder should be. We all have our strengths and weaknesses but the key to success is finding someone who compliments you in a way that it benefits your company.
4. Dealing with the Adverse
Every partnership goes through tough times. From fundraising to poor cash flows and contract terminations, all sorts of situations will come up. Make sure you and your co-founder are competent enough for dealing with such situations.
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