A startup isn’t a single-player recreation. It’s a crew sport. In actual fact, 23% of startups fail simply because they don’t have the best crew.
And probably the most necessary members of your startup crew is your cofounder.
Your cofounder is your corporation associate. They’re the one you’ll be spending lengthy hours with within the trenches, constructing your corporation from the bottom up.
So, it’s vital that you just select your cofounder correctly.
However we perceive that it’s essential to have your individual doubts. Doubts relating to why you want a cofounder within the first place, the place to seek out one and find out how to choose the best individual in your startup.
We’ll reply all these inquiries to make your startup course of rather a lot smoother.
Why Do You Want A Cofounder?
Beginning up is difficult. You’ll face plenty of challenges alongside the best way, and there will likely be occasions while you really feel like giving up. That is the place a cofounder is available in. cofounder is that excellent puzzle piece that matches in and helps you construct a robust basis in your startup.
They are going to be your sounding board while you’re feeling misplaced, make it easier to make robust choices, and push you to do higher.
In brief, there are extra probabilities of you succeeding with a cofounder than going solo.
Furthermore, listed below are some extra the reason why you want a cofounder:
- To steadiness your expertise and information: A cofounder may have totally different expertise and information than you, which is able to assist steadiness out your weaknesses. For instance, when you’re nice at advertising however not so good with numbers, then you will discover a cofounder who’s good with funds. This fashion, you possibly can complement one another and construct a well-rounded enterprise.
- To Share The Load: Beginning up is plenty of work. There will likely be lengthy days and sleepless nights. It’s not attainable for one individual to deal with all the pieces on their very own. A cofounder will assist share the load and make your journey rather less daunting.
- To Get A Completely different Perspective: It’s straightforward to get tunnel imaginative and prescient while you’re working by yourself. A cofounder will be capable to present a unique perspective and make it easier to see issues that you just may need missed. That is particularly useful when making key choices for your corporation.
- To Develop Your Community: A cofounder comes with their very own set of connections which can assist you’re taking your corporation to the subsequent stage. That is particularly useful within the early phases while you’re making an attempt to get your foot within the door.
Now that we’ve answered the query of why you want a cofounder, let’s transfer on to the place you will discover one.
The place To Discover A Cofounder?
One of the best cofounder is an individual who you already know and belief. This could possibly be a good friend, member of the family or somebody you’ve labored with up to now.
If you happen to don’t know anybody who matches the invoice, don’t fear. There are many different locations the place you will discover a cofounder. Listed here are a couple of choices:
YCombinator’s Startup College
YCombinator is likely one of the hottest startup accelerators on the planet. They’ve a Startup College program, a free 10-week on-line course that can assist you begin your individual firm.
Probably the greatest elements about this program is that it has a cofounder matching function. Which means that you will discover different entrepreneurs who’re searching for a cofounder with the same skillset and imaginative and prescient.
CoFoundersLab
Boasting itself because the world’s largest community of entrepreneurs, CoFoundersLab is a superb platform to discover a cofounder in your startup. They’ve a database of over 100,000 entrepreneurs from all world wide.
You should utilize their superior search function to seek out somebody who meets your particular standards. You too can attend their occasions that are held in varied cities throughout the globe.
Apart from networking, CoFoundersLab additionally provides useful sources on their web site, from foundational startup information to mentoring packages.
Intch
Intch is an AI-powered networking platform that helps entrepreneurs join with the best individuals. All it’s a must to do is join and reply a couple of questions on your self.
After that, their algorithm will match you every day with 5 individuals who have complementary expertise and information or who’re searching for your experience. You too can use their platform to seek out buyers, mentors, and advisors in your startup.
StartHawk
StartHawk is a “founder itemizing” platform that helps entrepreneurs discover the proper cofounder for his or her startup by shopping and filtering the listing of obtainable entrepreneurs who’re keen to collab on their thought or are open to engaged on one other.
All it’s a must to do is join and fill in your private and firm or thought particulars. After that, their algorithm will add you to the listing of potential cofounders who match your standards.
You too can use their platform to search for appropriate cofounders primarily based on their expertise, expertise, and site.
Lunchclub
Lunchclub is an AI and ML fueled social networking platform targeted extremely on connecting customers with widespread pursuits and targets.
To start, join and reply a couple of questions on your self and what you’re searching for and choose the date and time you’re comfy with for an internet assembly. Lunchclub’s algorithm will then match you with somebody who it thinks can be a great match.
The platform is backed by Lightspeed, Coatue, and a16z and boasts its 1:1 assembly success fee.
Indie Hackers
Indie Hackers is a podcast and neighborhood for entrepreneurs who’re bootstrapping their companies.
The platform additionally has a piece devoted to serving to you discover your cofounder by posting your necessities and expectations in a cofounder discussion board. Apart from this, the neighborhood is admittedly supportive in no matter you might be planning and makes positive you achieve each enterprise – be it discovering a cofounder, constructing your MVP, or planning your go-to-market technique.
Product Hunt
Product Hunt is a product discovery platform targeted majorly on know-how choices and SAAS. You’ll discover a number of tech-oriented individuals keen to associate with you in your subsequent enterprise as your tech cofounders.
You should utilize their neighborhood part to attach with individuals, discover solutions, and discover networking occasions to widen your present community and discover the proper cofounder you had been searching for.
Startup Weekend
Techstar’s Startup Weekend is a 54-hour occasion the place builders, designers, entrepreneurs, product managers, and startup fans come collectively to share concepts, kind groups, and launch startups.
You should utilize their platform to seek out upcoming occasions in your metropolis and even organise one your self. These occasions are an effective way to satisfy like-minded individuals, discover a cofounder in your startup, and get suggestions in your concepts.
Founder Institute
Founder Institute is a worldwide startup accelerator that helps entrepreneurs launch their companies with the assistance of skilled mentors, sources, and a structured curriculum.
You’ll be able to apply to their program to get entry to their sources, community, and mentorship. The accelerator additionally hosts digital cofounder networking occasions the place you will discover cofounders in your startup together with free mentorship periods.
F6S
F6S is a neighborhood of startup founders with over 1 million members. They provide sources corresponding to free entry to startup packages, offers, reductions, and networking occasions.
You should utilize their platform to seek out cofounders in your startup by shopping by way of their member listing or attending certainly one of their occasions.
No Code Founders
No code founders is a premium Slack neighborhood of over 12,000+ founders who’re constructing and launching profitable corporations and not using a single line of code.
You should utilize their platform to attach with like-minded people, discover collaborators, and get suggestions in your concepts. Additionally they have a listing of no-code instruments with particular provides that you need to use to construct your corporation.
Angel Listing
Angel Listing boasts itself because the #1 startup neighborhood specialising in connecting startups with expertise.
You should utilize their platform to flick thru startup jobs, discover a cofounder in your startup, and get entry to sources corresponding to funding, recommendation, and mentorship.
What units this platform aside is:
- The database of 8 million registered lively customers
- Nice UI that may make it easier to discover the apt cofounder in lower than 10 minutes
- A free applicant monitoring system
Linkedin is the perfect platform for connecting with professionals from all walks of life. You’ll be able to simply discover individuals with the identical pursuits and targets as you and join with them to debate potential enterprise alternatives.
There are a variety of how you need to use Linkedin to discover a cofounder in your startup:
- Flick through LinkedIn Teams: There are various teams on LinkedIn devoted to startups and entrepreneurship. You’ll be able to flick thru these teams to seek out potential cofounders in your startup.
- Join with 2nd or third diploma connections: LinkedIn lets you join with people who find themselves not in your rapid community. It is a nice solution to broaden your community and discover a cofounder in your startup.
- Publish a cofounder job: You should utilize LinkedIn’s job board to put up a job itemizing in your startup. It is a nice solution to discover certified candidates in your cofounder place.
- Use Linkedin premium: You should utilize Linkedin’s superior search options to seek out potential cofounders with the particular expertise and expertise you might be searching for.
Reddit is a neighborhood of a number of area of interest communities the place you will discover the proper individual to enhance your expertise. You should utilize this platform to:
- Get suggestions in your startup thought from the area of interest neighborhood
- Discover collaborators in your venture
- Join with like-minded people
Furthermore, a number of subreddits like r/cofounder and r/startups are nice locations to seek out potential cofounders in your startup. You too can use Reddit’s search function to seek out different related subreddits the place you possibly can join with potential cofounders.
Meetup
Meetup.com is an event-listing platform that helps individuals with related pursuits join and meet in individual.
You should utilize their platform to seek out related startup or networking meetups in your space. It is a nice solution to meet potential cofounders in your startup and get suggestions on your corporation thought.
How To Consider A Potential Cofounder?
Discovering some individuals who have expertise that complement you in your startup journey is simply step one. And talking out of the expertise, it’s the simplest half.
The troublesome half is evaluating them to verify they are going to really be a great match in your startup journey. As a result of, let’s face it, not everyone seems to be minimize out to be a cofounder.
There are a variety of things it is best to take into account when evaluating a potential cofounder. However earlier than you begin searching for such components, ensure you already know who you’re searching for – what expertise do you lack and what core duties would you desire a serving to hand in?
Your first job ought to be to develop a job description of the cofounder you’re searching for. This isn’t a ordinary job description that you just’d put up on a job looking web site, however a listing of expertise you’d need to see in your potential cofounder. As soon as achieved, consider the individual.
Search for:
- Complementary expertise: cofounder ought to have complementary expertise to yours. This can make it easier to construct a well-rounded crew with the required expertise to succeed.
- Complementary temperament: Your cofounder also needs to have a complementary temperament to yours. That’s, when you are typically extra impulsive, your cofounder ought to be extra level-headed. If you happen to are typically extra risk-averse, your cofounder ought to be extra keen to take dangers.
- A shared imaginative and prescient: Search for a cofounder who shares your imaginative and prescient for the corporate. This can assist guarantee that you’re each working in the direction of the identical purpose and assist keep away from disagreements down the highway.
- A appropriate work type: Compatibility is essential in terms of working collectively. It is best to search for a cofounder whose work type is appropriate with yours. For instance, when you prefer to work throughout sure hours of the day, your cofounder ought to be somebody who can be obtainable to work throughout these hours.
- Self-sufficient: Your cofounder ought to be somebody who’s self-sufficient and doesn’t should be micromanaged. This can make it easier to keep away from any potential energy struggles down the highway.
To guage your compatibility with a potential cofounder, you possibly can:
- Have candid conversations: Have candid conversations together with your potential cofounder about your corporation thought, your imaginative and prescient for the corporate, and your expectations for the position of a cofounder. This can make it easier to get to know them higher and see in case you are appropriate.
- Do a trial run: You too can do a trial run together with your potential cofounder to see how properly you’re employed collectively. This might contain engaged on a small venture collectively or attending a couple of meetups collectively. If you happen to discover that you’re appropriate, then you possibly can transfer ahead with the connection.
The Approach Ahead
If you happen to’re critical about beginning an organization, ask your self when you’re succesful sufficient to do it on their own.
If not, then it is advisable discover a cofounder. And discovering the best cofounder will be the distinction between success and failure.
One of the best cofounders are those that have complementary expertise, temperaments, and visions to yours. They’re additionally self-sufficient and have a appropriate work type.
Be certain that to judge them fastidiously earlier than transferring ahead. The very last thing you need is to finish up with a cofounder who isn’t a great match in your firm.
Go On, Inform Us What You Suppose!
Did we miss one thing? Come on! Inform us what you consider this text on the place and find out how to discover a cofounder within the feedback part.
A startup guide, digital marketer, traveller, and philomath. Aashish has labored with over 20 startups and efficiently helped them ideate, increase cash, and succeed. When not working, he will be discovered mountaineering, tenting, and stargazing.
