Resources
l

The Quest for a Co-founder

You Need a Co-founder. Trust Us

We are firm believers in starting a business with someone else. Our own co-founders wouldn’t have done it any other way, and we’ve talked to other business owners who agree that business is better with a buddy.

Sure, Mark Zuckerberg of Facebook went for it alone, but founders like him are few and far between. Plus, Zuckerberg had a ton of help. Remember that nasty lawsuit by those brawny Harvard students?

Here’s why a co-founder may be a crucial factor in the success of your company:

They Fill in the Skills Gap

Face it—there are some things you’re great at and really enjoy doing, while there are others you feel so-so about. Even if you think you can cover everything, why should you if you have a co-founder who can do it better?

Something else to consider? Different management styles. If you’ve started and grown your own business before, you know that as time progresses, different management styles work better than others.

They’re a Companion on the Startup Journey

Starting a business isn’t easy and bumps are bound to appear. This is a lot easier (and more fun!) to handle with a co-founder.

Advisors, board members, and mentors are great, but there is nothing like being able to talk to someone that is going through the exact same process as you are, facing the same risks, the same problems, and the same potential rewards.

They Can Cover For You

You’ve just spent a week glued to your computer coding and need to escape the office, but you’ve got these pesky checks that need to be signed. Guess who can sign them? Your co-founder.

We all have those days when we’re tired, grumpy, and we just want to go sit on the couch and mope. And sometimes, we want to soak up a little extra time with our families. A co-founder can cover for you on those days, so you don’t have to stress if you need a break.

They Can Point Out Blind Spots

We all have blind spots in how we manage, implement projects, and go through life. Having a co-founder gives you a peer that can point out these blind spots so you can improve. From personnel issues to how to launch a product, a co-founder will open your eyes to things you might not see.

Finding the Right Business Co-founder

Choosing a co-founder is more important than picking a spouse. You’re going to be sharing a lot, so you need someone you can trust who has complementary skills. Many people have a co-founder from the get-go, someone they’ve sat around with for hours, talking business and shooting ideas back and forth. Sometimes, founders deliberately go out to find people to share the journey.

Either way, it’s tough to find the perfect person who believes in your vision as much as you do.

How to Find Business Partners

Is there any difference from a business partner and a co-founder? Well, not necessarily. Still, many people have asked us how to find business partners, whether they are official co-founders, collaborators, investors, or other early employees. You can find all kinds of people in the places we’ve outlined below.

Where can you find co-founders and business partners?

Go Online

Thankfully, you’re not the only one with this problem! A ton of websites have cropped up to help entrepreneurs meet their matches:

Take It Off the “Net

It can be hard to judge whether or not a person is the right co-founder by their internet profiles, so many prefer to meet someone in person.

Here are a few ideas:

How to Find Programmers and Technical Co-Founders for a Startup

In the age of the internet, technical co-founders are difficult to come by. Everybody wants their skills and expertise.

Part of finding a technical co-founder means putting yourself out there; find the meetups, events, groups and gatherings that are targeted at technical people and go. Don’t worry about understanding the technical stuff— use it as an opportunity to meet people that are technical and active in the community.

A few tips from David Hauser, our technical co-founder, on how to find the right person:

You don’t find a technical co-founder, you earn one. – Jason Freedman

How to Figure Out If a Technical Co-founder or Programmer is Any Good

Once you’ve found a potential co-founder, you’ll have to figure out if they’re any good at what they do. Just because someone loves your idea and spent five years at Google doesn’t mean they’re the right person for the job.

It’s tough to suss out, so start with these three questions to find out if a particular person is right for you:

  1. What applications have they built?

    You really want to see applications or side projects the person has built on their own, even if they failed, since this shows both entrepreneurial spirit and their ability to build from start to launch. It’s also helpful to find out if they’ve learned from failure.

  2. Are they involved in their professional community and do they have the respect of their peers?

    You want to make sure your technical co-founder is respected by the greater community. You’re looking for involvement, not that they’re head of the universe. See if they have a blog or a Twitter account. If you’re in the Rails community, check out Working with Rails, which provides a rating for individuals.

  3. How do they interact with other technical co-founders?

    If you have a mentor or know another successful technical co-founder, ask them to talk to your possible candidate. This should not be an interview but an interactive conversation with someone that has experience and may be able to give you some insight.

Remember, these questions should only be asked once a candidate meets the minimum requirement of embracing the same core values as you do. That’s the first step. Then, whittle down your pool of potential candidates using a methodology that includes these three questions.

The Totally Manageable Risks and Dangers of Having a Co-founder

We believe that a co-founder is an asset, but we also know there are risks and dangers to having a co-founder, too.

You might bump into:

These risks are a bit scary, but the good news is that these risks can be managed. With effective communication and a good planning process, you can address potential risks before they crop up. Make sure you set up agreements beforehand. Agree on vesting terms, dole out responsibilities, and put it all on paper.

Need More Info on Co-founders?