How to Find a Co-Founder for Your Start-up
For every start-up, you would require a dedicated team and people who share your vision, enthusiasm, and the spirit to turn the venture into a successful business. As we already know that a single person cannot handle all the aspects of a Start-up, help is always needed from an enthusiastic team. There have been many individuals claiming that one of the major reasons behind the failure of their Start-up was an absence of a Team or not having the right team to manage the business. One of the key players while forming a team is to have the right Co-founder or Co-Founders.
Who is a Co-Founder?
The person who initiates the Start-up idea is known as the Founder, however, a person who is involved in the processes or in the finding of the idea and ultimately the execution is known as the Co-Founder. A Co-Founder cannot be known as the Original Founder of the business or a Start-up. A start-up owner or the Founder, can lookout for a single Co-Founder or even for multiple Co-Founders, it would help to raise more capital and handle the business more efficiently.
The Necessary Qualities in a Co-Founder
You cannot make any person as your Co-founder; it has to be someone who has specific qualities that would match your business goals. Remember, you are not looking for a Co-founder to just increase your team, you are looking for dividing the responsibilities, succeed together, and sharing your Start-up’s visions and goals. A wrong choice of Co-Founder can destroy your goals and vision and lead to the closing of your business; however, the right one can help you achieve wonders.
1. Visionary and Passionate
The first quality to look for is the vision of your potential Co-Founder. He or she should be passionate about the business and should have long-term visions with regard to the Start-up. A Co-founder with a short-term vision would not benefit your business, his/her vision should match with yours and he/she should be as passionate as you are.
2. Interest and Quick Learner
It is obvious that your Co-founder should have enough interest in your start-up that he/she would pursue with enthusiasm. If your Co-founder has joined just with the intention of making money then it may cause a problem and he wouldn’t have the necessary motivation to carry on the business. Aside from interest, your CO-founder should also be a quick learner. He/she does not need to have complete knowledge and the skills required for the work, but they should be ready to learn them.
3. An Understanding Nature
Conflicts is the last thing that you want to have in your start-up. There have been many Startups that ended due to the conflicts between Founders and Co-Founders. Your Co-founder needs to have the right nature, temperament and should be understanding enough to avoid small or unnecessary conflicts while engaged in the business.
How to Find a Co-Founder
After understanding the various qualities that are required in a Co-Founder, the next big question that arises is how or where to find your Co-founder? You cannot handpick at random, as the future of your start-up is dependent on the team you create. The various ways to find a Co-founder are as follows.
1. Your Contacts
Most of us already know that the chance of finding a Co-Founder in your contacts, that is your friends, relatives, acquaintance is quite low. In fact, most of Start-up Founders have said that they never found a potential candidate in their friend group. However, it is worth a try to begin with your contacts, watch out if there is any person who is passionate, hungry, and responsible enough for building up your start-up as a Co-founder.
2. LinkedIn Posts
Various surveys and testimonies have put forth stories of People finding their Co-Founder or business partner through serious platforms like LinkedIn. Unlike Facebook or other platforms where you would find many people just passing their time, you would find a professional crowd on LinkedIn. You can put forth a post, explaining about your goals, your start-up and share about the qualities that you are looking for in a Co-Founder, people who are interested would respond to your post and you may find your Co-Founder.
3. Start-up Meets
Start-up meets are those gatherings where people who have their own start-ups share about their story or journey throughout, share ideas, discuss, and network. Now generally, you would not get your Co-Founder right away at this spot, but it is the perfect place where you would find people who are as passionate, responsible, and visionary as you. The root factor to look for in a Co-Founder are the qualities, and you would find many people as such here. You should develop a network at these events and keep in touch with those people, at a future date they may act as your Co-Founder.
4. Work on References
As we discussed earlier, the first ones whom you can approach are your friends and relatives, however, if you find no leads through them, you can ask for references. References work really well as the person on the other side may seem like a stranger but with some mutual connection, things work out really well. In fact, after finishing off the list with your friends, you should start off with references that have been provided to you by your friends.
5. Networking and Co-founder matchmaking events
These types of events are only conducted in cities or well-known regions, especially Co-founder matchmaking events. However, if you attend such events you can easily find your potential Co-founder that you are searching for. Only a handful of serious people would be attending such events, this makes your work easier. But it may take some time to develop trust and the relation that is necessary, you would have to work on that.
A Co-founder is a person who is involved or assists a Founder in the process of initiating a Start-up. A Co-founder has to be visionary, passionate, a quick learner, and have an understanding nature. You can find a Co-Founder through LinkedIn Posts, Your contacts, Start-up events, References, and Networking events.
How to Find a Co-Founder for Your Start-up