your cofounder matters2

THE IDEAL CO-FOUNDER

HOW TO FIND THE RIGHT CO-FOUNDER FOR YOUR BUSINESS

“Get yourself a co-founder!” routinely tops lists of the best business advice from successful entrepreneurs. 

Setting up a business with another person enables you to halve the workload and the mental burden. Working with a co-founder means that you always have someone else to bounce ideas off; someone who can both hold you to account and support you.

WHAT MAKES A GOOD CO-FOUNDER?

However, you and your co-founder need to share the same work ethic. Setting up a business is hard, and you need to know that you can rely on this person to be on your team for the long haul. You also want to make sure that the two of you fundamentally get on with each other, so test the relationship out on short term projects first. 

When choosing the ideal co-founder, it isn’t enough to select someone with outstanding expertise in their field. Making sure that person is a good fit for you – that their skillset, attitude and personality are complementary to your own – is key. 

your cofounder matters2

TRINITY OF MANAGEMENT

Today there are a plethora of psychological profiling tools on the market, all of them offering to delve into the minutiae of your character, traits and work style. However, we believe that it is simpler, and more efficient, to pare this back to what we call the Trinity of Management: the maker, the marketer and the manager.

In order to excel, a company must have a brilliant product, the ability to sell that product and its vision to buyers and investors, and the know-how to manage the whole operation. 

MAKER, MARKETER OR MANAGER?

These are three distinct skills and even though one person may embody two of the three, it is unlikely they will be strong in all of them. 

If you are obsessed by the processes, but find it difficult to convince others of your ideas, then seek out a marketer. If you are a visionary creative but struggle to focus on the day to day business practicalities, then pair up with a manager. That is why matching your co-founder’s strengths to yours is so important. 

To find out which of the three essential types you are, you can read our article on the Trinity Of Management or take our quiz here below.

CONTACT MATTERS2

your cofounder matters2

SUBSCRIBE TO OUR NEWSLETTER
TO RECEIVE UPDATES ON NEW ARTICLES

Abu Dhabi Matters2

The Abu Dhabi Investment Scam

It recently happened to one of our clients: their company is UK based, with no operations or interests in the UAE - they are fundraising and this investor contacted them out of…

Valuation

How to value my company? Sure, you want to minimize the number of shares you will eventually give to investors, but you don’t want to scare them off as well. Above all…
Brushes Matters2

Valuation: Qualitative Methods

When looking at early-stage valuations, our favourite approach is to rely on benchmarks from the market and then compare them with the start-up we are valuing. We normally arrive at a final…
paper boat matters2

101 Startup Stages

The startup life cycle has 6 stages, no wait 5, no, another website said 7 stages and then if you actually read The Lean Startup by Eric Ries then you will have…

SUBSCRIBE TO OUR NEWSLETTER
TO RECEIVE UPDATES ON NEW ARTICLES

Measure Matters2

KPIs

It is generally agreed that four to ten measurements…

Leave a Reply

Your email address will not be published.Required fields are marked *