Whenever I meet a solo entrepreneur, one of the first things I like to bring up is the value of having a co-founder. There are so many strategic discussions that need to be debated at length, in a way that’s different from the regular investor/advisor discussion. Every single detail and idea is made much better when two people with a great deal of respect for each other hash it out.
Here are a few reasons a co-founder is so valuable:
- Startups have high highs and low lows, so having a kindred spirit in the ride helps balance things out
- Co-founders bring complementary skill sets such that the startup has deeper expertise at an earlier stage
- Many decisions in a startup don’t have a clear answer, resulting in a significant amount of discussion, often best done with a co-founder
- Balancing personality styles, such as someone who likes to think big with someone who enjoys ironing out the details, makes for a more successful team
A great co-founder makes all the difference. Now, having two, possibly three co-founders total, is ideal, but be wary of having too many at the table. At the least, find one solid co-founder and they will add tremendous value.
What else? What are some more thoughts on the value of a co-founder?
David Cummings on Startups 
David, I wholeheartedly agree with you. However, do you have any suggestions in finding a co-partner or co-founder? In particular I am looking for someone with experience in business development and someone with a background in finance and who has experience in raising capital. Those are two areas that are complimentary to my visionary, operations, and leadership skills. I’ve posted on numerous sites expressing my needs and I even have a listing on Angel.co as well.
David one of the issues of having co-founders is finding out people who are sharing your core values. Think about it, 50% of the marriages fail in US. And having a co-founder means that you would be spending as much time of with them as your significant other. So unless, you find someone who is as good and in some ways better and inspiring and humble, you are better off alone in my opinion.
No one says, that its better to remain married than to be single for a while. But everyone seems to agree that a single founder is a bad idea.
the 3rd point should be #1 ……how to find a co-founder? you should have a long history (Peter Thiel ZERO to ONE)
We have found that having a well known personality as co-founder opens doors to opportunity. NBA Hall of Fame Champion, Bill Walton, shares our core values and the spirit of our team to better communities everywhere. He also brings important resources to the table including; links to celebrities and media outlets, introductions to potential investors, and connections to projects that fit our platform. Our hope is to more fully benefit from Bill’s associations as co-founder once we secure our seed round of funding for planned tech advances to improve our product.