Investors love teams. They also say that the success of a start-up stands or falls with the team. So if you want to start a business, but cannot cover all the skills your young company needs, you should look for a co-founder. And let us tell you: sometimes this is more difficult than you thought.
The first thing you should do is to think about the skills you need help with. For example, if you want to release an app, but can’t code, it makes sense to look for a coder. If you want to sell a product to someone, but you are not good at selling, you should get help in this area. In any case, be honest with yourself. You shouldn’t lie to yourself and tell that you can do something that you can’t actually do. Otherwise you may have the best idea in the world and you will be surprised why your start up failed.
When you know where you need support, you can look for that one person who complements your skills. There are three different “places” where you can find Co-Founders. First, you should look around in your “inner” circle. Maybe you even have friends, fellow students, colleagues or someone from your family who can and wants to support you. If this is not the case, or if you don’t want to, for example because you don’t want to start a company with someone from your family, look around in your “middle” circle. This is your network. Maybe one of your friends or colleagues knows somebody who wants to start his own company and just doesn’t have an idea yet, or who thinks your idea is great and wants to be part of it. Last but not least you can look into your “outer” circle. This means strangers that neither you nor someone from your inner circle knows.
You can find strangers through network meetings or online platforms. Network meetings can be found in every bigger city. If you go there, it can be helpful to find someone who, first of all, meets your requirements and qualifications and secondly is interested in a new project and a challenge. You can also search on online platforms such as FOUNDERIO.
If there is someone who shows interest and meets your required qualifications, you should not be rushing, even after a long search. Because, in addition to the professional perspective, it also has to be a good match for your human relations. You should differ in your skills and personality traits, so you can complement each other. On basic attitudes such as the founding strategy, the value system or the leadership culture, you should be in general agreement. Imagine it as a business marriage. If you start a business together with someone, you enter into a (hopefully) long-term partnership. So clarify important basic attitudes and only if it still fits, you have found your co-founder. Don’t be sad if it doesn’t work out. The next possibility will surely happen.
The search for a co-founder can be a long process. But don’t let that stop you, because sometime it will fit and you will find your co-founder!
