After the hell of brainstorm sessions, research, and on-ground testing, you get sure about the idea of your startup. Now you have got the plan, desire, and energy to start your dream work, but you feel that you are missing something – A Cofounder.
The question arises, “Do you need a cofounder to succeed in your business?” Not actually. But if you want to build a dynamic duo, then you need one. You can’t manage everything on your own. You can hire an employee to delegate work, but in the case of a startup, you don’t have that much time and money. The best option is to find a cofounder with complementary skills and the same energy and mindset.
We’re raised from small children to an adult having a thought in our mind that what kind of person we like to marry and spend our life. But none of us is prepared for finding a cofounder for a startup. A business partnership is like a marriage. Embrace the courtship.
First of all, let’s take a sneak-peak to the qualities of a potential co-founder
1. Go for a Team Player
Find a cofounder who is willing to take the lead and can roll-up sleeves in need of time. He knows how to make a good team and manage them. He possesses a leadership quality and knows how to put the strength of an individual to get something productive of it.
Starting a business is a great deal, and you don’t want to ruin it because of a partner who is not loyal to you. You need to know their background and do your homework correctly before making a place for them in your startup. When you work on some projects together, you get to know each other more and build trust between yourself. This helps in focusing on the company’s best rather than micromanaging.
3. He Has Got That Spirit
You might have got enough energy and enthusiasm for turning your dream in reality, but you need someone at your back who has the same energy level or can have more than you. Growing, scaling, and surviving get fueled by your energy. Sometimes, you might lack that spirit to motivate your team and yourself, so while finding a cofounder, you need to keep this in your mind that you need a person who fuels you up with energy.
4. Both Have Matching Long-Term Vision for Company
Starting a business with the objective to sell as soon as possible is different from starting a business with the virtue of a long run.
At the very least, if your co-founder expects an early exit and you don’t, then try to confirm it by providing contingency in your partnership agreement. You both got to agree on what you hope to conquer. During the journey of a startup, things always change.
5. You fight well
Disagreements are normal and healthy. In fact, if you never disagree, maybe you haven’t found the proper co-founder.
Make sure that once you do disagree, you’re ready to hear each other’s points of view and find footing — or at the very least do the proper thing for the business. Being right doesn’t matter; doing the right does.
Once you have a clear image in your mind of what traits you look for in your confounder, start looking for them.
If you are finding a cofounder who is genuine and of serious type, then you need to make a severe effort to find them and in the right place. Otherwise, you can fall for the wrong choice.
This process of finding cofounder can be really long and hectic.
Here is the list of some shortlisted online sites where you can connect with the potential cofounder.
FounderDating is a platform used by entrepreneurs in finding cofounder, business partner, or mentor. The method of joining is thorough as the platform screens each applicant to make sure that they meet the website’s standards. Users must even have a LinkedIn account to access the network.
For startups that want to require a special approach, YouNoodle may be a unique platform for them as it uses competitions and contests to attach co-founders, advisors, and entrepreneurs. Following the contests, various co-founders and entrepreneurs have the chance to urge funding from investors who were following the competitions.
Write an engaging story, now post it on your blog and share it together with your network and Facebook/LinkedIn groups. Attempt to find some bloggers and spread your story through their articles. List yourself on co-founder platforms so that people can read your story. Interact with people in startup events like Startup Weekend, In 50 Hours, Saturday ventures, and TechSparks. Tell them your story and mention explicitly to read your story blog while exchanging your business card.
If everything goes well, you’ll get many applications.
Finding a Cofounder is not a cup of tea; you need lots of patience for it. Don’t make hiring in a rush. Even if everything seems perfect, the important test begins once you start working together. That’s why it is often preferred to work together with your friend or co-worker because you are compatible with them.