A startup isn’t a single-player sport. It’s a group sport. In actual fact, 23% of startups fail simply because they don’t have the proper group.
And probably the most essential members of your startup group is your cofounder.
Your cofounder is what you are promoting associate. They’re the one you’ll be spending lengthy hours with within the trenches, constructing what you are promoting from the bottom up.
So, it’s crucial that you simply select your cofounder correctly.
However we perceive that you need to have your individual doubts. Doubts concerning why you want a cofounder within the first place, the place to seek out one and the best way to decide the proper particular person to your startup.
We are going to reply all these inquiries to make your startup course of loads smoother.
Why Do You Want A Cofounder?
Beginning up is difficult. You’ll face numerous challenges alongside the way in which, and there might be instances while you really feel like giving up. That is the place a cofounder is available in. A superb cofounder is that good puzzle piece that matches in and helps you construct a robust basis to your startup.
They are going to be your sounding board while you’re feeling misplaced, will show you how to make powerful choices, and can push you to do higher.
Briefly, there are extra possibilities of you succeeding with a cofounder than going solo.
Furthermore, listed below are some extra explanation why you want a cofounder:
- To stability your expertise and data: A cofounder may have totally different expertise and data than you, which is able to assist stability out your weaknesses. For instance, should you’re nice at advertising however not so good with numbers, then yow will discover a cofounder who’s good with funds. This fashion, you may complement one another and construct a well-rounded enterprise.
- To Share The Load: Beginning up is numerous work. There might be lengthy days and sleepless nights. It’s not doable for one particular person 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 simple to get tunnel imaginative and prescient while you’re working by yourself. A cofounder will be capable to present a special perspective and show you how to see issues that you simply may need missed. That is particularly useful when making key choices for what you are promoting.
- To Develop Your Community: A cofounder comes with their very own set of connections which might help you are taking what you are promoting to the following 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 yow will discover one.
The place To Discover A Cofounder?
The very best cofounder is an individual who you already know and belief. This could possibly be a buddy, member of the family or somebody you’ve labored with previously.
In the event you don’t know anybody who matches the invoice, don’t fear. There are many different locations the place yow will discover a cofounder. Listed here are just a few choices:
YCombinator’s Startup College
YCombinator is among the hottest startup accelerators on the planet. They’ve a Startup College program, a free 10-week on-line course that will help you begin your individual firm.
Probably the greatest elements about this program is that it has a cofounder matching characteristic. Which means that yow will discover different entrepreneurs who’re searching for a cofounder with the same skillset and imaginative and prescient.
Boasting itself because the world’s largest community of entrepreneurs, CoFoundersLab is a good platform to discover a cofounder to your startup. They’ve a database of over 100,000 entrepreneurs from all world wide.
You need to use their superior search characteristic to seek out somebody who meets your particular standards. You may also attend their occasions that are held in numerous cities throughout the globe.
Apart from networking, CoFoundersLab additionally gives useful sources on their web site, from foundational startup data to mentoring applications.
Intch is an AI-powered networking platform that helps entrepreneurs join with the proper folks. All you need to do is join and reply just a few questions on your self.
After that, their algorithm will match you day by day with 5 individuals who have complementary expertise and data or who’re searching for your experience. You may also use their platform to seek out buyers, mentors, and advisors to your startup.
StartHawk is a “founder itemizing” platform that helps entrepreneurs discover the right cofounder for his or her startup by looking and filtering the listing of obtainable entrepreneurs who’re prepared to collab on their concept or are open to engaged on one other.
All you need to do is join and fill in your private and firm or concept particulars. After that, their algorithm will add you to the listing of potential cofounders who match your standards.
You may also use their platform to search for appropriate cofounders based mostly on their expertise, expertise, and site.
Lunchclub is an AI and ML fueled social networking platform centered extremely on connecting customers with frequent pursuits and goals.
To start, join and reply just a few questions on your self and what you’re searching for and choose the date and time you’re comfy with for a web based assembly. Lunchclub’s algorithm will then match you with somebody who it thinks could be a great match.
The platform is backed by Lightspeed, Coatue, and a16z and boasts its 1:1 assembly success fee.
Indie Hackers is a podcast and group for entrepreneurs who’re bootstrapping their companies.
The platform additionally has a bit devoted to serving to you discover your cofounder by posting your necessities and expectations in a cofounder discussion board. Apart from this, the group is absolutely supportive in no matter you’re planning and makes certain you reach each enterprise – be it discovering a cofounder, constructing your MVP, or planning your go-to-market technique.
Product Hunt is a product discovery platform centered majorly on expertise choices and SAAS. You’ll discover a number of tech-oriented folks prepared to associate with you in your subsequent enterprise as your tech cofounders.
You need to use their group part to attach with folks, discover solutions, and discover networking occasions to widen your present community and discover the right cofounder you have been searching for.
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 need to use their platform to seek out upcoming occasions in your metropolis and even organise one your self. These occasions are a good way to satisfy like-minded folks, discover a cofounder to your startup, and get suggestions in your concepts.
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 may apply to their program to get entry to their sources, community, and mentorship. The accelerator additionally hosts digital cofounder networking occasions the place yow will discover cofounders to your startup together with free mentorship classes.
F6S is a group of startup founders with over 1 million members. They provide sources reminiscent of free entry to startup applications, offers, reductions, and networking occasions.
You need to use their platform to seek out cofounders to your startup by looking by means of their member listing or attending one in all their occasions.
No Code Founders
No code founders is a premium Slack group of over 12,000+ founders who’re constructing and launching profitable firms and not using a single line of code.
You need to use their platform to attach with like-minded people, discover collaborators, and get suggestions in your concepts. In addition they have a listing of no-code instruments with particular gives that you should use to construct what you are promoting.
Angel Record boasts itself because the #1 startup group specialising in connecting startups with expertise.
You need to use their platform to flick through startup jobs, discover a cofounder to your startup, and get entry to sources reminiscent of funding, recommendation, and mentorship.
What units this platform aside is:
- The database of 8 million registered energetic customers
- Nice UI that can show you how 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 may simply discover folks with the identical pursuits and goals as you and join with them to debate potential enterprise alternatives.
There are a variety of how you should use Linkedin to discover a cofounder to your startup:
- Flick through LinkedIn Teams: There are lots of teams on LinkedIn devoted to startups and entrepreneurship. You may flick through these teams to seek out potential cofounders to your startup.
- Join with 2nd or third diploma connections: LinkedIn lets you join with people who find themselves not in your fast community. It is a nice strategy to increase your community and discover a cofounder to your startup.
- Put up a cofounder job: You need to use LinkedIn’s job board to submit a job itemizing to your startup. It is a nice strategy to discover certified candidates to your cofounder place.
- Use Linkedin premium: You need to use Linkedin’s superior search options to seek out potential cofounders with the precise expertise and expertise you’re searching for.
Reddit is a group of a number of area of interest communities the place yow will discover the right particular person to enrich your expertise. You need to use this platform to:
- Get suggestions in your startup concept from the area of interest group
- Discover collaborators to your undertaking
- Join with like-minded people
Furthermore, a number of subreddits like r/cofounder and r/startups are nice locations to seek out potential cofounders to your startup. You may also use Reddit’s search characteristic to seek out different related subreddits the place you may join with potential cofounders.
Meetup.com is an event-listing platform that helps folks with related pursuits join and meet in particular person.
You need to use their platform to seek out related startup or networking meetups in your space. It is a nice strategy to meet potential cofounders to your startup and get suggestions on what you are promoting concept.
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 best half.
The tough half is evaluating them to ensure they may truly be a great match to your startup journey. As a result of, let’s face it, not everyone seems to be reduce out to be a cofounder.
There are a variety of things it’s best to think about when evaluating a potential cofounder. However earlier than you begin searching for such elements, 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 activity ought to be to develop a job description of the cofounder you’re searching for. This isn’t a ordinary job description that you simply’d submit on a job looking web site, however an inventory of expertise you’d wish to see in your potential cofounder. As soon as performed, consider the particular person.
- Complementary expertise: A superb cofounder ought to have complementary expertise to yours. This can show you how to construct a well-rounded group with the mandatory expertise to succeed.
- Complementary temperament: Your cofounder also needs to have a complementary temperament to yours. That’s, should you are typically extra impulsive, your cofounder ought to be extra level-headed. In the event you are typically extra risk-averse, your cofounder ought to be extra prepared 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 objective and assist keep away from disagreements down the street.
- A suitable work fashion: Compatibility is vital with regards to working collectively. You need to search for a cofounder whose work fashion is suitable with yours. For instance, should you wish to work throughout sure hours of the day, your cofounder ought to be somebody who can also be accessible to work throughout these hours.
- Self-sufficient: Your cofounder ought to be somebody who’s self-sufficient and doesn’t must be micromanaged. This can show you how to keep away from any potential energy struggles down the street.
To judge your compatibility with a potential cofounder, you may:
- Have candid conversations: Have candid conversations along with your potential cofounder about what you are promoting concept, your imaginative and prescient for the corporate, and your expectations for the position of a cofounder. This can show you how to get to know them higher and see if you’re suitable.
- Do a trial run: You may also do a trial run along with your potential cofounder to see how properly you’re employed collectively. This might contain engaged on a small undertaking collectively or attending just a few meetups collectively. In the event you discover that you’re suitable, then you may transfer ahead with the connection.
The Approach Ahead
In the event you’re severe about beginning an organization, ask your self should you’re succesful sufficient to do it on their own.
If not, then you could discover a cofounder. And discovering the proper cofounder could be the distinction between success and failure.
The very best cofounders are those that have complementary expertise, temperaments, and visions to yours. They’re additionally self-sufficient and have a suitable work fashion.
Make certain to judge them rigorously earlier than transferring ahead. The very last thing you need is to finish up with a cofounder who isn’t a great match to 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 the best way 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 could be discovered mountaineering, tenting, and stargazing.