You can come up with a great business idea, but if you lack advanced technology skills or do not know how to create and market that product or service, you will find yourself in a tough spot. In these kinds of situations, it is common sense to find a co-founder who will fulfill these empty gaps and help you develop your startup into a great and a successful company.
But, how does one even start looking for a co-founder and is it really as simple as it sounds? Well, to start off, one has to set a skillset requirement before endeavoring on such a journey. Listed here are a few tips that might help you find a co-founder for your startup.
Write a Job Description
The most productive way of finding a decent co-founder is for you to write a comprehensive job description for that role. The only reasonable way to do it is to look at the strengths and potential weaknesses of your business.
Once you realize what you need from your co-founder and find out which particular skills that person must have, put it in the job description. Also, try and look for someone who complements your skills with theirs, in order to ensure that your cooperation is productive and that your business is flourishing.
What Skills do you Lack?
Ask yourself what skills you are lacking, and what you would like to see in your co-founders skillset? You have to be perfectly clear on what skills will be needed for the success of the startup, and what is it that you are looking for.
Take a look at your management team, and see what skills they are lacking; by identifying the necessary roles in your management team, you will figure out the real number of co-founders you need for your business. Each business member has its own roles and responsibilities which have to be fulfilled, which is why you are looking for someone with a decent skillset to fill those shoes.
Where to Look for a Co-founder?
There are many places where one could go searching for a co-founder. It all starts with the network of people you know; if someone can vouch for a particular person that is a great place to start.
Another thing you can do is look at online “matchmaking” sites for business partners. Websites such as CoFOundersLab and StartupWeekend gather entrepreneurs from all over the world, and these are the perfect places for you to find a business partner. Simply post it on any of the business forums or websites, and negotiate the terms with the applicants or call them in for an interview.
You can also attend local universities and have a talk with the universities’ professors or student representatives to find out who the top entrepreneurs might be or how to get in touch with a certain alumni. Your last option should be an open job posting.
Take Your Time
Finding the right co-founder is a lengthy process, so take your time and do not rush it. Trying to speed up the process can only bring about bad results, which is something you might want to avoid. Get some time and look for the perfect candidate, spread the word on business forums and sites and monitor people’s reactions.
If you have more than one person applying for the job (which is usually the case), test their skillsets and try and find the one that best complements yours. If none of them fits you right, just keep looking and in time, a perfect candidate will appear.
Avoid Family and Good Friends
Sooner or later, all startup founders (or at least the majority of them) consider reaching out to a member of family or a really good friend to be their co-founder. On one hand, it makes sense. You know this person. You know their good and bad traits. You trust them. You (probably) love each other. Trust us, taking on a member of the family or a good friend as a co-founder is a huge mistake. Legal experts from Oregon Divorce Online told us that they handled innumerable divorces which were the direct result of poorly thought-out and executed startup partnerships.
In today’s world, most of the startups are being founded by college students who are 20 to 30 years old. Normally this creates a lot of space for different people with the same ideas. When hiring, you should be as diverse as possible, for extraordinary ideas are born out of diverse backgrounds and extraordinary experiences.
Once you go through these steps, choosing a co-founder will be much easier.
You will know what to look for in a person, and his skillset will determine whether he is the right fit for your business or not. Remember, take it slowly this just might dictate the future of your business. Do your research and start searching.