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.
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.