Alone we can be happy, but together we can enjoy! We all need someone in our life with whom we can share our thoughts; we can discuss our doubts; who can give us the best advice… This happens in a running business too. We need a person who multiplies the happiness of the success, divide the stress and splits the burden of responsibilities. It is always considered that two heads are better than one for a business venture.
Moreover, the founder of Ford Motor Company, Henry Ford, conclude it the best in these words; “Coming together is a beginning, keeping together is progress, and working together is a success.”
In the present era, none of any entrepreneur has adequate skill, interest, or bandwidth to do the entire task. It is important to hire employees or outsource the work. But hiring and outsourcing will surely require handsome capital and more time to manage the work. However, the best solution for this is to find a perfect co-founder with complementary skills and the same vision for your venture. The founding team of any startup business acts as a strong pillar on which the success and establishment depend. It serves as the building blocks of the organization.
21st century is full of cut throat competitors. It is quite difficult for the elusive co founder who owns the same passion, vision, skills, and interests the same as you. Find a co founder is exactly like finding a soulmate for your business. You cannot ask someone to find it for you. Only you can do this for you. Here is a list of some points that may help you out in finding a co founder for your venture.
#1 Make a job description for an ideal co founder
It is quite important to look hard and identify the strengths and weakness of your own business. With the reference of such strengths and weakness, write down the traits, skills and experience that you want in your ideal co founder.
#2 Look for a network
Just like to find a network for investors, similarly, you need to look a wide network for finding a co founder. You can join online entrepreneur groups on Facebook, Twitter, Instagram, or on LinkedIn and get interact with people.
#3 Join matchmaking sites for business partners
Don’t hesitate in exploring such sites and searching a co founder there. Visit these sites and make a healthy discussion on business blogs.
#4 Follow up with associates
If you are impressed with the work, skills and capacities of any of your employees, don’t hesitate to offer them an opportunity to be your co founder. Even, this will be easy for you and your venture as your employee would surely be familiar with the tasks, responsibilities and goal of the venture. But make sure to use caution in order to avoid employer conflict of non compete clauses.
#5 Explore outside of work
It is true that interests and chemistry match the best when explored outside the work. Find some sports, interests and hobbies to enjoy each other’s company. A business partnership is not a matter of a moment. Even it is a long term relationship, so it is important to get acquainted with each other before closing the deal.
Go Online
There are now a ton of websites that help out several entrepreneurs in searching for their perfect business match.
- Tech cofounder
- Cofound.org
- FounderDating
- TechVenture’s Co founder Network
- Founder2be
- Cofounders Lab
- Startup Weekend
- YouNoodle
- Founders Nation
- Code Army
- Lead Candy
- Meet up
Take it off the internet
- Look around
- Find conferences, seminars, and events
- Join meet up groups
- Visit startup camps
Qualities to look for a Right Co-Founder
#1 Complementary strengths
Compliments and support not only strengthen your bond but it also takes you and your co-founder on the same track by providing a common vision of thoughts. Identifying your strength and recognizing your weakness and trying to cop up with them will definitely help to grow business. Syed Balkhi, the founder of Optin Moster, describes complementary strengths as “Complementary strengths is when one of the co-founders is entirely responsible for developing and building the product; while the other co-founder is responsible to sell the product. This approach proves to be a perfect model for many start ups venture.”
#2 Thirst for knowledge
A perfect co-founder is the one who recognizes the need and importance of learning. The willingness to learn and thirst for gaining more and more knowledge greatly contributes to the growth of the start up in the right direction.
#3 Emotional stability
Emotional stability or emotional intelligence may consider the ability to manage and identify the emotional feeling of himself or herself and others as well. It is generally believed that emotionally erratic people tend to make successful business leaders. Start up business ventures give you plenty of reasons to lose your temper, fly of the handle or cuss people out. But it is extremely important for the success of such ventures to resist the urge and stay cool and calm. If your co-founder possesses emotional intelligence and stability in his base pocket, take it as a major advantage.
#4 Honesty and Integrity
There are several ways to embezzle funds and sneaking off sufficient cash while founding any company. It is important to look for someone whom you can trust and relay completely. The co-founder of the organization must be loyal and honesty for you. Do not hesitate and be straightforward while explaining what you expect and desire in your co-founder.
#5 Alignment of values
Mutual understandings, vision, thoughts and values are difficult to identify; but are also crucial for compatibility. Before choosing the co-founder, make sure that your partner must own such potentials that are as same as you hold.
#6 Eagerness to learn
No doubt that experience is the best teacher and attempter is the best student. It is a must to learn new business techniques and ideas every day. While you are starting up any business, you will learn a lot on each and every step.
#7 Energy
Starts up ventures are not meant for those who are weak of will, slow of pace and faint of heart. Scaling, growth, pivots, and survival takes energy. Look for someone who owns enough of mental and physical energy to pull through the difficult times, step ahead towards the growth and reach the peak of success.
#8 Flexibility
Flexibility is the most important factor to be considered while choosing the co-founder. Starting up any venture involves hard work and dedication. You may hire an employee in the morning; pitch the business to the investors in the noon; and removing out the trash at the end of your day! The founder of a company must have attained the peak of flexibility and owns the capability to do all the tasks at any time. If you found any person with such quality; do not hesitate to approach him as he may surely prove to be the best co-founder for your start up.
Try to find someone on whom you can trust, who can grow with you and take the pitfalls in stride as well. But most importantly, the real and true measure of any person is not depend on how he or she reacts when things are going smooth, but it is when things are beyond the control. Apart from the above mentioned points, the success of a start up venture relies on the ability of the owners to stay gentle and calm and not collapse under any pressure.
