Things to Look For in a Co-founder
Every startup founder has responsibilities that need to be shared with someone. It is not possible for a single founder to take the load all upon himself/herself of the company. Major tasks and responsibilities have to be divided in order to function systematically with very little chaos. While there are a lot of traits of a co-founder and founder that could overlap, there are certain traits which are necessary to have in a co-founder.
- Mutual Vision
The first thing that binds you to your business is the vision that you seek for it. If you are a founder and have a co-founder who does not share the same vision, it could be harmful for the business in the long run.
- Complimentary skill sets
Complementary skills allow effective distribution of responsibilities and tasks. When your co-founder has the same set of skills as you, forming a plan and executing it is much more a tedious process than when he or she has skills other than yours that could enhance your set of skills.
- Open Minded and Adaptable
When you are planning the execution of your new business, it is a given that most of the things will not go about as you plan them. You will be getting surprises at several points which you may or may not be prepared to tackle. You must have a co-founder who has the ability to adapt to these changes and unexpected twists that come about.
- Emotional Intelligence
As a founder you are bound to make a lot of assumptions, a lot of times you will find them being wrong as you talk to the customers or get feedback on the product or service. It might feel like everything’s falling apart. At such times you need a co-founder who is emotionally stable enough to pull you out of it and get you on the right track.
- Honesty and Transparency
Finally, we want a co-founder who whom we can trust the most. There should be no room for lack of trust and doubts within the team. You should be able to as a team have a frank, rationale and egoless discussions. This is critical to making the right decisions and the viability of the startup.
What else would you look for in your co-founder? Feel free to comment and let us know what’s your take on the subject.