Looking for a suitable business partner or co-founder is akin to looking out for a suitable marriage partner. Not everyone out there is fit to be a wife or husband. As such, not every friend or acquaintance, despite your love for them, will be fit to be a co-founder for your start-up. That is why you need to know what kind of individual would fill the slot. The future and fortunes of a start-up depend on this individual. Where a right choice is made, high chances are that the start-up will live to enjoy a long successful future. A classic example to this is the story of the renowned global brand, Apple Computers. Steve Jobs started up Apple computers at his parents’ garage with the help of Steve Wozniak. With Wozniak’s help and others that came in thereafter, the company grew into the giant it is today. But what are the key factors to consider when sourcing out a co-founder?
Alignment of values
It is important to ensure that the pilot and co-pilot of the start-up are on the same page in terms of the vision and values the company holds. Most importantly, individuals that you have had past shared experiences will most fill in this slot. If you note keenly, the founders of most family-owned businesses around town are husband and wife.
A complement of skills
The biggest dilemma you could face as the pilot is when all the co-pilot can accomplish is what you could as well. As such, a cofounder who complements your skills as the founder would be ideal. Say, a founder who is an engineer and can build a great product complemented by a cofounder with great sales and marketing skills. A great product will be churned out and at the end of the day, revenues will flow after it is sold.
Eager to learn
Building a start-up calls for a lot of investment in terms of energy and learning as well. As such, the ideal co-founder must be willing to learn, be persistent and full of energy to drive the operations.
Ultimately, there are more factors to be considered while choosing a co-founder but those highlighted above should be the guiding compass to your search for one.