Finding the right cofounder for your company is rarely a straight forward process.
This person is going to be your business partner, which means you could end up spending nearly every waking hour of every day for the next few years working alongside them, possibly even sat next to them. As a result, it’s important that you find someone you’re compatible with. Someone who can help you turn your business dreams into a reality. Someone who isn’t going to drive you up the walls or plunge you into the red.
“Choosing someone to start a business with is one of the most important decisions you’ll ever make,” said Bertie Stephens, cofounder of Flubit.com.
The first thing you need to do is identify the skills you need from your cofounder in order to make your business idea a success. If you have a technical background but lack sales and marketing experience then it makes sense to try and find someone with those skills and vice versa.
Once you’ve identified the skills you need in your cofounder, you should then concentrate on the personality traits you think they should possess. For example, if you’re more of an introvert then maybe you should think about teaming up with an extrovert. Other things to consider are the individual’s startup experience, industry expertise, intelligence, credibility, passion, drive, ambition, communication skills, personal hygiene etc.
As soon as you’ve established what you need and who you need you then need to think about where to find them.
The obvious place to start is your own personal network. Do you have any contacts that might be interested in pursuing the venture you have in mind? This could be a friend, a relative or maybe someone you’ve met at an event.
If your network fails to deliver then ask other people that you would expect to have strong contacts, such as venture capitalists and accelerator managers. Hopefully they’ll be willing to make an introduction and you can see how you get on with the potential cofounder and if they have the skills you’re looking for.
Join our Tech Startups & Co Founders @ G Bar at the Grosvenor Piccadilly, 3-4 Coventry Street , W1D 6BL London, United Kingdom, Tuesday, 19 May 2015 from 18:00 to 21:00 (BST)