Most startup people are getting into business with people they know but that is not the best advice in a lot of cases. Entrepreneurs struggle with establishing a strong start-up company because they don’t have the knowledge or bandwidth they require to be successful. That’s why finding a co-founder with the right skills and complimentary experience can be a huge asset.
There are many challenges to finding the right co-founder for your start-up business, but here are some useful tips to keep in mind when the time arrives to begin considering your options.
1. Don’t Choose Someone You Know
A friend, spouse, or relative may have skills that you admire, but getting into business with them is a bad idea because it establishes a bias right from the start. Opt instead for writing a “job description” for your ideal co-founder. List the strengths and weakness of your business and the skills that you would want to balance those out.
2. Network
Networking isn’t only useful in finding investors; it can help narrow down your field and locate a smart professional with a good skill set. Networking involves joining entrepreneurial groups like LinkedIn or by attending conferences and local business organizations.
3. Are You a Non-technical or Technical Founder?
The answer you give to this question has a big say in what sort of co-founder would work best for your industry. Choosing an individual who falls into the opposite group as you could serve to balance out your business and propel you into higher levels of success. However, that doesn’t necessarily mean you ought to; selecting a person who has the same approach as you might work better for overall efficiency.
Non-technical founders are individuals who have no prior experience with technological skills, such as writing code, programming, and so on. Though this may seem like a disadvantage, take heart: there are many successful people who started out as non-technical founders. Technical founders, on the other hand, possess certain technological abilities, such as programming.
4. Consider Relocating
Finding a qualified co-founder in the middle of Utah will probably be a bit of a challenge. Don’t spend too much time and energy looking for partners where there probably are none; there’s a reason places like Boston and Silicon Valley are bursting with high-tech start-up industries. Go where the success is and you’re more likely to find the sort of people you would like to do business with.
5. Define Roles Right Away
It’s important to establish who is the boss, and no matter how equal you and your co-founder may be, there must always be someone with a little more power to wield when it comes to making tough calls and decisions.
In Conclusion: Decide What You Want to Accomplish
Every start-up business is going to be different. What is most important is for you to be honest with evaluating your industry’s weaknesses and strengths. This will help you be more objective when it comes time to select a co-founder who will ultimately help you accomplish your business goals.
**And do the Drinktest, before you decide to get on a ride with someone do the Drinktest :).
Everyone will show its true face after some beers **
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