Top Six Reasons Why You need a Co-Founder
A co-founder is someone in a “collaboration” with another person (or People) with the purpose of growing a startup. Usually the thought is that the person who brings up the idea is the founder, while the co-founder is always brought in to serve as an “assistant” sort of.
The truth is that, it could go either way, we’ve heard cases co-founding gone wrong; the best you can do is to go legal. Yes, have a legal document that defines both roles for the startup. For example, if the co-founder handles the technical aspect the founder should define it in the legal piece. The founder should also define the stakes of the co-founder (if there’s any) in the company.
With this in mind; An agreement should be in place before the official take-off.
This Should also signify that
- Anyone can be your co-founder (at any point in time).
- Your co-founder doesn’t need to be available from inception.
Most startups are struggling to compete and the rigours of the trade is weighing them down (it’s difficult being a jack of all trade after all), then arises the situation where a founder has got an idea and he certainly understands the business of it; but he doesn’t have the technical know-how to execute; to keep the work going he might need to pay a lot (of money) to developers and designers and this can be considered unsafe in some instances.
Here we’ve been able to Craft Out the top 6 reasons you need a co-founder
SKILL SHARE: Skill Share is one of the most important reasons you need a co-founder (and like I said previously, it is really difficult to be a jack of all trade) So, when the founder understands the technicalities, the co-founder understands the business involved. Trust me, there’s no better way to grow.
MORAL AND INVESTOR SUPPORT: In the journey of entrepreneurship, there are times when things go really tough, in situations like this some key decisions may need to be made; what happens if the founder isn’t in the right frame of mind? So, here the co-founder is supposed to understand you the most, he is supposed to know the right buttons to push when you’re not in the mood (you as the Founder).
Investor Support: Most Investors will rather fund a startup with two co-founders or more; its logic, if two or more people don’t buy your idea then to them it might not be worth it.
BRAINSTORMING AND DECISION MAKING: brainstorming is also a key reason why you need a co-founder. A co-founder is supposed to be resourceful, creative and intelligent (this is not saying you should push your duty to your deputy; its saying if you have the basics, he can complement it with his resourcefulness.
DECISION MAKING: This is a very delicate area (as in any case) here there might be arguments, but if you have the roles clearly defined, there shouldn’t be any problem.
In decision making, you should hear out your co-founder (in most cases consult), it only brings out the best results and like the popular saying goes thus “two heads are better than one” Do not under estimate the power of two heads.
FRIENDSHIP: This is very important for growth. The more time you spend together, the more the friendship tightens up. And I’m sure you don’t want your enemy working with you.
Your co-founder isn’t only your friend, he’s your helper.
REST: Na, I am not asking you to retire yet; You can always delegate your duty as a founder to the co-founder (where necessary), this would enable you go on that much needed Holiday Cruise with your family.
It’s just as easy as that, when the co-founder needs a break, the founder is charge (and vice versa) one certain thing is that someone is always in charge.
This is not saying you won’t succeed as a one-man business (there are a couple of very successful one man founders across the world)
We understand that in this part of the world (Africa), starting an entrepreneurial journey could be difficult. It will make lots of sense to distribute the stress; having a co-founder is one certain way to get up and running.