Choosing a co-founder is an important step in launching your startup.
Consider these points before finalizing your decision:
– First, understand what are the businesses’ needs and what skills must be recruited.
– In the early stages of the startup, you need a complete team — someone building it and someone selling it.
– Choose a co-founder who completes the team.
– Look for candidates who share the same values as you.
– Focus on candidates who you have known for some time.
– Consider what skills are less important so you know how to make the right trade-off decisions.
– Make sure the co-founder is equally committed to the startup in time spend.
– Discuss the potential exit strategies to see if there is alignment.
– Before finalizing the decision, work on a small project. In the project, see if you work well together.
Is there any chemistry from the relationship?
Does their work ethic match yours?
Does their professionalism match yours?
Is the communication between you and the potential co-founder open and honest?
Choosing a co-founder is an important step, so by no means rush it.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
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Copyright (c) 2021, Hall Martin and investorconnect.org. All rights reserved.
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.