Continuing with my list of most common questions we get during Office Hours, the next question is around co-founders. Most founders are either business oriented or technical oriented, and are often looking for a co-founder to fill their gaps.

Great co-founders

Having a co-founder can be a huge boost for a founder to have someone else in the trenches with you during the journey. Great co-founders often have complimentary skillsets (i.e. business vs. technical skills). These complimentary skills allow the co-founders to focus on what they are great at and enjoy, while the other partner tackles what you are not good at/don’t enjoy. Furthermore, great co-founders are usually aligned in core values (i.e. positive, self-starting, etc.).

Where to find

Some founders have the luxury of having already worked with their co-founder in a previous company. They already know they work well together. Some people find co-founders through referrals of trusted connections - while they have not worked together in the past, someone they trust has worked with the person and speaks highly of them. Not everyone finds someone this way, so are searching at events, online, etc. These co-founders with no previous relationships can be risky. One thing I have seen entrepreneurs do is start with them as consultants for a period of time to get more confidence that they work well together before offering a co-founder role.

Timing

While I am a big fan of having a co-founder, timing does matter. Super early in the business when you are figuring things out you may not need a co-founder. Prove your idea is a must-have, get some early passionate paying customers, and convince yourself this is what you want to build. The more traction and proof you have in the business, the easier it will be to attract a quality co-founder, as well as less equity you will have to give up to convince them to join.

A complimentary skillset co-founder with the same alignment on core values can be invaluable. But don’t stress if you don’t find that immediately.