Starting a business with a co-founder can provide several benefits you won’t experience when going it alone. According to Entrepreneur.com, having this partner can offer a new perspective, “help with the refining of ideas, and allow for a sharing of the workload. It might even grant a startup a competitive edge.”
There’s no absolute correct way to pick a co-founder, but the article offers several characteristics to look for to help with the process of choosing the right person.
- It’s like dating. Business owners often find compatible partners as they work together over time, notes the article. Co-founders may have a history of working together well on tough projects. The article also encourages entrepreneurs to pick partners with whom they enjoy spending time and with whom they share similar values. A shared vision is key.
- Complement each other’s strengths. The right co-founder will make an impact on the business beyond routine, day-to-day issues, states the article. Partners can also hold each other accountable for executing ideas and encouraging each other to accomplish goals. “A great team offers the highest probability of surviving and thriving when it seems that all odds are against the pair,” reports the article.
- Build a solid foundation. The article shares the process of choosing the right co-founder is not intuitive, so it may seem like a challenge. Domingo Meneses, co-founder of CrowdNoize, says in the article the solution to preventing problems is finding “someone who's humble, honest and communicative in order to work through issues — and will hold herself [or himself] to the same standard — so as to forge a strong and fruitful relationship.”
Carwash owners should be careful as they search for the right co-founders for their business ventures. By heading a few tips, entrepreneurs can find a business partner with whom they can build a thriving company.
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