Know the right co-founder for your startup.
When do ‘you and me’ make a better team than ‘me’ alone? And how can we improve our chance of success?
Thinking of starting up? Wondering whether you have it in you to go it alone? Not for nothing do they say that two’s company. The right partner will pick you back up when you get down, ‘right’ being the operative word.
Someone who shares your dream makes the best co-founder.
Starting up successfully is a grind. You and your co-founder will need to pull together, and pull hard. Being of like mind will ease the going as will complementary traits in both of you. Face it, two aggressive people working together could make for explosive moments you could well do without. Ideally, co-founders’ characters should complement each other.
If you’re an introvert, you would stand a better chance of success by partnering someone who’s got the gift of the gab. If you’re excitable by nature, a cool customer could help restore calm when the going gets rough.
Likewise, complementary business skills are helpful. If you’re a whiz with numbers and your co-founder is a geek, you’re better setup for success than two geeks. Besides, it’s easier to respect someone who has skills you don’t. Respect helps manage differences of opinion more maturely.
Yeah! Along the way, you’re bound to disagree on something or the other. But you know what? Discussions are healthy. Asking questions is healthy. And it is okay to disagree. Just, agree to disagree. And well in advance, agree on how you will solve disputes. Put that down in black and white.
An unspoken rule in resolving dispute is to keep things between you. Washing your dirty laundry in public is a definite no-no.
Also, list out your roles and responsibilities, and stick to those guides, all the while, with the firm faith that you are there for each other and the business. Interference will mess up your relationship as well as your business prospects.
But even as you each stick to your territories, let your co-founder know what you’re up to and your current key priorities. This is a simple way to build trust and strengthen your relationship. Keeping secrets from each other seeds doubt and disbelief, and in turn, saps the business of energy.
Making it together is not rocket science. Then again, a few best practices can increase your odds of success. The good thing is that all of these pointers are within your reach.
Finding the right co-founder is the most important way. Connect with Shashank Shukla to learn the way to select the right co-founder for your idea.
