Starting up a venture? Want to taste success? You might have to work with a co-founder to increase your success ratio. For new ventures, ramifying the workload, holding yourself answerable to the things you have to do is important. Assorting skills in your new venture will help you to stoke up the odds of withstanding in the first year.
Finding a right co-founder, however, can be a jeopardizing task. Not ending up with a veracious co-founder can lead to a failed startup. About 60% of the startups fail due to incompatibility among co-founders. Therefore, it becomes essential that you work with the right person who compliments your skills and add value to the company. It is a two way thing – Appreciate, compliment, rectify the errors and step higher. Here are some of the things you need to do to find a perfect co-founder :
Introspect and continue with your strengths
You need to analyse your strengths and weaknesses. Know your capabilities and take responsibilities of it. For say, you are prodigy in designing but don’t know how to attain galloping customer growth, then look for a person who is a good acquisitor. In this way you’ll roughly split the workload and work on your strong zones.
Use the resources available to you
Tell your mates what kind of a person you are looking for. Look up on your LinkedIn connections, attend meetings and events. Make utmost and proper use of resources available around you. To press the accelerator of your startup, connect with people running new startup programs and try to attend local entrepreneurship events.
This will elevate your likelihood of finding the right person in a short span of time.
Resume should not be the priority
Find a partner who builds up the necessary bridges. Don’t rely on their resume data. Personality fit is the real enchantment for a co-founding team. Being in an early stage startup is like working as a disguised employee . You need to work tirelessly for long hours under stressful conditions. It requires proper as well as quick decision making.
Trust your Gut
If you don’t trust a person without if’s and but’s there’s no point indulging in a business – relationship with them. Always trust your first gut instincts. If you feel something’s wrong, it usually is. Stay far visioned while making the decision.
Finding the right co-founder is a hefty task. But Hey, success doesn’t just happen by accident !