How to Find and Choose the Right Co-Founder for Your Startup

Now, throw a business partner into the mix who also happens to be your romantic partner, and things can get REALLY interesting. After being in a committed relationship for about 8 years and freelancing separately for most of them, we finally decided to join forces and start a business together. TWO heads are always better than one! But what we realized pretty quickly is that TWO heads also equals two point of views, two different working styles, two personalities… and a whole bunch of other differences. It also meant we had to learn how to communicate with one another even better. One of the biggest reasons we went into business together is because of our complementary skill sets.

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Many factors go into a successful startup, such as market need, financing, a viable business model, and marketing. However, finding the right team — specifically, the right co-founder or cofounders — is a crucial first step. Finding a co-founder can be challenging. However, there are many resources founders can use to find someone with the skill sets necessary to run a business.

Here are tips on what to look for in a co-founder and where to look. Startups will be more successful when they have two balanced partners.

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December 4, by Roslyn Ellerbee. They failed in choosing the right person and it cost them dearly. And what comes up most often is how important it is to have the same vision To be aligned, to be on the same mission. If you want to build a company and your business partner wants to take things as they come and not really anticipate that much or strategize, then you have a problem you need to deal with ASAP.

Transparent communication is key. You need to find out what drives the other person and what gives them energy, before you commit to delivering on co-creating and co-delivering what your clients want to have. Because if you don’t agree, it will suck energy out of you, your partner and your business!!! Here is what you need to have checked off before you sign the dotted line on the partnership agreement:.

5 Signs You Should Break Up with Your Business Partner

Subscriber Account active since. Yet, every business expert tells me that finding good business partners is just as tricky as a good marriage, without the sex. Business partnerships come in all shapes and sizes, from finding a single partner to help you run your startup, to signing a strategic agreement with another large company for development, marketing, distribution, or sales.

The health of your partnership plays a huge role in business success or failure, so being able to work well together and maintain a positive.

Get access to over , potential cofounders, team members and advisors on the largest startup platform on the planet. A partnership needs trust, loyalty and a shared vision. CoFoundersLab helps you find the perfect partner for your business. Perspective is unique. Use our community of , entrepreneurs to validate your ideas and move them forward. Build relationships through our community of entrepreneurs. Stop procrastinating, stay accountable and find success today.

Save time and money by having everything you need in one place to start, fund and grow your startup. Ability to search over , targeted entrepreneurs to find your cofounder, team member or advisor. As seen on:. Six months ago, we didn’t have a company, but today we are looking at a very promising future with JobNow, and it all started thanks to CoFoundersLab. Drew Taylor. By helping us find the right team member, CoFoundersLab really did help us take our company idea and turn it into a solid business that has the potential to change the world!

In a Relationship With an Entrepreneur? Here Are 10 Things You Should Never Say.

Much is written these days about collaboration. As I reflect back on my career, I confess the results vary. When I worked in the non-profit sector, I had a reputation for bringing people together to collaborate on a project. Agencies didn’t always do so willingly; sometimes there was resistance — mainly because of territorial issues.

The lessons of a business partnership test-run. When I was going through the co-​founder “dating” process, I’d found a potential partner through my network who.

Common interests, long hours and shared lunch breaks can make for the perfect meeting environment. Even today, despite the proliferation of online dating apps, work remains a common meeting place for more than one in 10 heterosexual couples in the U. Power couples like Melinda and Bill Gates — who themselves met on the job at Microsoft in — are proof of the synergies that can come from working with your soulmate.

Indeed, going into business with your significant other can even provide a smart employment option. According to one study from Germany’s Institute of Labor Economics , entrepreneurial couples often start companies together to address the limited employment and financial opportunities available to one spouse — usually women. However, making a business partner of your real life partner is no easy ride. First up, it’s important to draw clear boundaries so that work does not interfere with a healthy home life, says Justin Trout, co-founder of LA-based fermented tea company Health-Ade Kombucha.

But there’s more to your relationship than that,” he says. You can’t live and work with someone without setting those types of boundaries. No job is without its challenges, so it’s important to find strengths in your joint wins along the way, says Staci Brinkman, founder and CEO of Sips by, a Texas -based tea subscription service. Then, ask yourself: “Did it go smoothly?

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When it comes to starting a company with a partner, I look to the lessons of the great business partnerships of our time. Google was created and built into a half-a-trillion-dollar company through the partnership of Sergey Brin and Larry Page. If partnerships are the template of the most successful people in the world, they can work for every entrepreneur.

Those are all qualities you want in a business partner. Trust. You trust one another. You have a shared history and an expressed commitment to.

This time of year always brings a lot of talk about dating, relationships, and meeting that special someone. But a relationship with the right business partner can be just as meaningful, if not more so. If you have a good business idea, you may ask, do you really need a partner in the first place? Just like in dating and life, it all depends on your reasons. The entrepreneurial path is stressful, expensive, and a little bit lonely.

That may seem like a solid enough reason to seek out a co-founder, but is it really worth giving up half your equity and control? Of course, without the right team and talent, your great idea may never get off the ground in the first place.

How to find the perfect business partner

In a world where it is getting harder and more frustrating to get the ideal business partner or startup co-founder, it has become more important for online platforms to be created to make it easier for people with great ideas to find people with great skill-sets in order to build the idea together. Finding a co-founder is the most important thing for any startup because it usually is arguably the first hire, and that is what will determine whether your startup will be successful or not.

Of course, there are a few other things that will determine the success of your startup aside from having just a good co-founder.

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Building a business out of nothing definitely takes the proverbial village, and surrounding yourself with the right people at the right time is crucial for hitting milestones. So how do you know when you are working with the right people—or, more importantly, with the wrong people? But how do you measure and prove a gut feeling? But when it came time to work together, we struggled to reach consensus on small details. Conversations that should have taken minutes would take hours, and would often require a post-mortem email or phone call to discuss our working styles.

Though my potential partner was performing well by the numbers, my own productivity was dwindling as I spent more and more time on managing our relationship. As the month drew to a close, I found myself increasingly uneasy. I knew that there were issues with my potential partner, but I also knew that the company would grow at a slower pace if I had to start the co-founder search from back at square one. At our one-month meeting, my equity offer reflected this feeling, which in turn, led my potential partner to pursue other opportunities.

Finding A Great Business Partner Is Like Finding Someone To Marry

This time of year always brings a lot of talk about dating, relationships, and meeting that special someone. But a relationship with the right business partner can be just as meaningful, if not more so. If you have a good business idea, you may ask, do you really need a partner in the first place? Just like in dating and life, it all depends on your reasons. The entrepreneurial path is stressful, expensive, and a little bit lonely.

There’s a lot of advice out there about the ethics and wisdom of dating your dating a client, vendor or other non-co-worker you interact with as part of your job​, says Putting your personal feelings before your business relationship is a mistake, About Monster · Work for Monster · Partner with Us · Monster International.

Great businesses are founded on great partnerships. But great businesses can also be destroyed by bad partnerships. These entrepreneurs—and members of The Oracles—share their hard-won wisdom about what to watch out for before joining forces with a business partner. My top two criteria for partnering are: One, I must like them and trust the person. Two, they have to bring something to the table that I cannot myself provide. People often have different understandings and interpretations if they are not codified in writing.

Before entering a business partnership, my top criterion is to ideally know someone for at least one year. Some psychology and scientific studies say that people truly show who they are after one year.

Here’s What You Need to Consider Before Starting a Business With a Partner

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Experts say making a friend or family member a business partner can be a bad idea, recruited, so why not connect with my network and ask who they know? Finding a business partner is a lot like dating, which includes.

It’s really not an exaggeration to say that gaining a new business partner is a lot like gaining a spouse. Think about it. I’ve seen a lot of partnerships through my business experiences over the years — as a business executive and third generation woman entrepreneur. It’s great when it works well. The business functions efficiently and good partners clearly play off each other’s strengths. On the other hand, working with a failing or destructive partnership can be very unpleasant.

Not only is it unsettling, but it can be harmful for your business and it is most definitely damaging for the business of the weak partners — because who wants to work with a couple that can’t work with themselves? So you should prepare for gaining a business partner in much the same way you would for a marriage. You want to plan for it to work out, but be prepared in case it doesn’t — because you can’t predict the future. So a prenup, or in this case a partnership agreement, is necessary.

Discussing this early and when the relationship is good is critical so that you know how you are going to split up if it comes to that. Apart from a prenup, you should hash out the details of what you both want your partnership to look like and get clear on shared business goals. You should ask questions about communication styles and generally, mentally ready yourself to make the commitment — and to make the commitment work!

How to Choose the Right Business Partner