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?