Over the years I’ve said numerous times that it’s much better to have a co-founder rather than go it alone. Personally, I’ve started companies with and without a co-founder and the co-founder route is much more enjoyable and achieved a much greater level of success. One of Atlanta’s biggest exits last year, Vitrue, which sold for a reported $300+ million, had an amazing solo founder in Reggie Bradford.
With the Atlanta Ventures Accelerator, the first investment we made was in a solo founder. For the accelerator, we prefer 2-3 co-founders per team, but we’re most interested in building successful startups, irrespective of number of founders.
Additionally, the cost of creating a minimum viable product, assuming potential prospects are lined up, has dropped substantially making prototypes more attainable. So, it’s easier for solo founders to start out independently, moving forward with the startup, and then look to recruit one or two co-founders as progress is made. By getting things done and networking, there’s a greater chance of finding potential co-founders, and the better things go with the startup, the easier it is to find people that want to join.
With more single founder success stories, and lower startup costs, look for more solo founders to emerge.
What else? What are your thoughts on the rise of more solo founder startups?