How to Choose a Great Co-Founder for Your Startup
Entrepreneurship is a journey, and it is often shared with other people. Choosing who you surround yourself with as an entrepreneur is critical, but choosing who to start your business with is paramount. In fact, some VCs consider the business idea secondary to the team itself.
With this in mind, TechRepublic Premium chatted with experts from Energetic Insurance, Teleport, and J Street Consulting. The result is a brief overview to help your selection process.
Featured text from the guide:
Skill, style, and ego
Human beings tend to gravitate toward people who are similar to them. According to research on twins published in the journal Psychological Science, even our genes play a role in who we seek relationships with. In the case of founders, the goal is to find the right amount of similarity.
You will also need skills that enhance one another and help fill in the gaps that may be lacking in your skillset. In addition to filling out your repertoire of skills, founders need to be looking for someone who can complement other aspects of their business mindset.
Ev Kontsevoy, CEO and Co-Founder of Teleport, says, “Great co-founders compliment each other. In an ideal world, you want a co-founder who’s the happiest doing things you naturally do not enjoy. If you are a technologist and love coding, you probably don’t want another copy of you — look for a marketer, a sales guru, or a designer. Realize that recruiting for an early stage startup is incredibly difficult, so often the co-founder role is the only ‘carrot’ at your disposal and must be reserved to acquire critical skills for your tiny company. And finally, look for emotional intelligence and mental stability in a co-founder. Starting a business is incredibly stressful, people who are on a stable footing without pre-existing drama in their lives are best positioned to endure the stress.”
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