Someone once said, startups are like weddings and finding a co-founder for your startup is like looking for a bride, both should be perfect or you’ll be troubled for all your life. Looking at the fact that a co-founder has a significant role in achieving your business success, he/she sure should complement and support your goals in a way similar to how a life-partner does. This quote sums it up precisely-
“Coming together is a beginning; keeping together is progress; working together is success.” -Henry Ford, Founder at Ford Motor Company
If you are one of those who are set out on the journey to find the ideal business partner for yourself or are planning to do it sometime soon, you’re at the right place. Here, I list down a few traits you must look out for in your business co-founder, making your search easy-
It may sound weird, but to be able to complement each other, your startup-partner must not be a reflection of you and your skills. Someone who’s strengths balances your weaknesses and vice versa will be a blessing to your business.
Startups aren’t for the faint hearted. A person who owns a company has to have a spontaneity and energy to deal with the physical and mental challenges that are thrown your way in the journey from being a startup to a well-established firm. Make sure your partner is game for it.
3) Common Vision
He should be on the same page as you when it comes to the company’s vision and values. As an entrepreneur you must repeatedly question yourself about the objectives of your venture and where you aspire to be, only then will you be able to explain to your entrepreneur-better half about what you expect out of him.
The beginning is destined to be full of instigating elements but positivity and patience will make the voyage peaceful. You and your partner will be influencing your team and hence, are required to be calm at all times.
The co-founder must be as committed as you towards a common mission leading to the startup’s success. He must be sincere enough to be willing to tell you even what you do not want to hear, for the betterment of the company.
As owners of the same company, both of you will be required to take important decisions mutually. Flexibility and understanding towards each other’s words will help the company overall in making efficient and quick judgements.
7) Digital Soundness
I’m sure you are aware of the pace with which digital media has been taking over the whole world. The World Wide Web is blooming and you cannot afford to miss out on digitalizing your business. In the beginning, having a fair knowledge of how things work in the digital space is mandatory. Believe me; a partner with the know-how of the digital space can turn the tables in your favor big time!
A person that perfectly fits as your startup co-founder should share your passion, support your dreams and has to be a realist. A mutual understanding, trust and transparency are vital to have a long-term healthy relationship with your business partner. Hope you find your business soul-mate soon and have a successful venture. Happy entrepreneuring!