Wednesday, April 22, 2009

Why and how you should find a co-founder for your startup.

I have been working on startup ideas for a long time (close to ten years), and I've only seen significant change by working together with a partner (co-founder), someone with equal determination and vision as mine.

The co-founder is there to fill in your weaknesses and having one gets you through the lows as Sep Bishop said to Entrepreneur TV, "if you are looking to start your own business, from my experience, I've always felt that having a partner is a good idea. You tend to find that entrepreneurs usually have big egos and seem to think that they are good at everything and know the answer to everything."

He said " Daniel and I were quick to recognize that we have weaknesses in certain areas, mine was fund raising, Daniel had a huge amount of experience in that area and he particularly didn't have any experience in advertising which I brought."

He continued, " In startups, there will be incredible highs and incredible lows, and having a partner in those times when particularly the lows, you will need somebody to pick you up. At some point a lot of entrepreneurs are willing to give up."
Seb Bishop later sold his ad company Espotting for $186 million.

So many startups were started by 2 or more founders. Yahoo, Google, Myspace, Youtube, Facebook and the list goes on.

Having a co-founder with same passion and some set of skills or chracter that you may lack increases your chances of building a successful startup.

Look for people that are very good at what they are doing, open-minded, ready to learn and who believe in what you are doing.

They don't have to be people you know personally or in the real life. Micheal Cerda founder of Jangl met his co founder Ben Dean on Craigslist.

I met my partner in the Startup I am working on now on Spidgit. I went through some of his posts, I knew he knew what he was doing and he was good at it. I approached him and we exchanged emails.

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