Cofounder is a buzz word when we talk about start up business. Founder and Co-founder both form an integral part of business. Cofounder’s form part of leadership team and assist in achieving business objectives from operations to expansion.
Having a cofounder in a business set up aims to live up to the vision and passion while supporting as a backup and confidence to start and run the business. The support one receives from having a cofounder for startup business goes long way in building up a successful organization.
As we witness now days most of the start Ups have a co-founder and at the same time many just struggle to find one cofounder who can be part of their organisation and together take steps to bring the business up like raising a child.
So what is right way to find a cofounder for one’s start up and not sure where to search for one.
Why it is important to have a Cofounder and what benefits a Cofounder brings in for the start-up is an essential question arising.
Cofounders brings in array of benefits from assisting the business to taking up additional responsibilities, having a vision which may not be similar but have their own pros or view point that can leverage a business.
A cofounder becomes progressive and productive and the founder is able to divide important assignments to a person in responsible position who will take ownership. Now ownership comes when one is an integral part of the system.
There are task which employees hired can do tackling certain tasks only founders are required and they should be doing those task that require specified intervention.
These can include as meeting with investors and defining overall business strategies there by creating set of responsibilities required for overall growth of business there by improving quality of work.
It is for sure another person always bounce new ideas and brainstorm with can go a long way towards ensuring your startup gets on right path.
A co-founder has set of skills that dosnt match yours as a founder and vice versa you can do certain tasks that he might struggle and take long time.
Simply having another person to bounce ideas off of and brainstorm with can go a long way towards ensuring your startup gets off on the right foot.
Also, if you partner with a co-founder who has a complementary set of skills to yours (which you should), they can do certain tasks that you might struggle with, take a long time to figure out, or not be able to do at all.
In such situation co-founder makes it easier for start up founders with valuable moral support
History says most successful business has cofounders and that became successful. Few examples are Microsoft had Bill Gates and Paul Allen, Apple had Steve Jobs, Steve Wozniack, and Ronald Wayne, Google had Larry Page and Sergey Brin and more.
This brings us to point there are certain things you should look for in a co-founder in order to ensure you choose the right person an have requisite combination of knowledge and skills. Experience will bring additional benefits for scaling up the business.
Where to find Cofounders for your startup
- One of the most natural places to start identifying potential co-founders is within your circle of friends and have the characteristics you should look for in a co-founder
- Colleagues from jobs you’ve had are another great type of personal contact to consider for finding a co-founder. Talk it out and say you interested in getting onboard a co-founder and elaborate on business idea.
- Social media like LinkedIn is to post about your search for a partner. Someone already in your network might be interested and connect from their network.
- There are match making sites and program like Ycombinator. One can create profile and get matched with potential co-founders based on your preferences, including interests, skills, location, and more.
- There are start-up accelerators and incubators and these places and people who head such incubation programs for start ups mentor start ups meet business potential to work side-by-side.
- There are also mentors and advisors who may be able to connect to many co-founders who might be interested to join hearing the set up story and business plan outside of the program.
- (Image courtesy: intheworks.helpscout)
