If you have not thought of a co-founder for a start-up yet, it’s time you start to have one on board. We tell you why.
Starting a business can be thrilling.
Be it a million dollar idea or something that appeals to an audience of every group, most businesses begin with a credit card and a laptop.
Does not matter how experienced or knowledgeable you are, there always comes a situation when you face complex operational issues or have to strategize for your company.
Experimental evidence suggests that having a co-founder can help your business succeed faster and in a better way. In situations when you’re confused about the company’s priorities, two heads thinking of a optimum solution, will definitely be better than one. If you have not thought of a co-founder for a start-up yet, it’s time you start to have one on board. We tell you why.
– Tasks at hand
The more number of responsibilities you fulfill, the more occupied you are. That could be one of reasons why you have not been able to think out of the box, even after trying so hard. A co-founder can help you with various aspects of business, which in turn can help you focus on what you are good at. The fact that not all people are good at the same thing prevails here. While you may be possessing great leadership qualities, there are other things such as business development, marketing, operations etc., you need to handle in a start up. That is where your co-founder pitches in.
Now that you have found the idea and have started working on it, there would be a number of connections you’d require to build your empire. The more number of people to share your responsibilities, more will be number of connections and larger will be your network. A co-founder does not just understand the need of building contacts, but also does his/her work as effectively as you do it. Now you know why start-ups with more than one founder end up being successful in no time.
– Emotional support in profession
The thought of running a business is thrilling. But over the time it becomes mentally and physically draining. There are times when you see no way ahead of you. During times when your business is doing good, you feel nothing could stop you now, however one small fall and you start thinking about the what-ifs. A co-founder will not only be an emotional support to you, but will also dedicate himself/herself to your business as much as you do. And, obviously you cannot expect the same professional support from your employee or spouse.
The only thing that’s on your mind when you may not be present at your workplace, would be the effect it might have on the operations. A co-founder does not just know what your way of working is, but also understands your responsibilities, like no other person does. You can easily hold meeting with clients and investors, when there’s someone on board who takes care of the building-empire, like the way you do.
There are a number of potential things that can go wrong in partnerships. Of ‘course like two people do not possess the same skills, they do not think the same way, and a newly started business is no exception. Yet, having a co-founder is worth a roller coaster ride, as even if the two of you don’t seem to agree on most of the issues, you at least get to learn a lot from each other.