How To Find A Co-founder For Your Start-Up
Updated: Jul 14, 2020
You have an idea that you think is going to change the world. You share it with your friends and colleagues. Some show interest while others don’t. Those who show interest procrastinate to act upon it. When you have exhausted your personal network looking for the “perfect co-founder”, instead of settling for average try out these methods to find the perfect partner to build the next big thing!
If you need some convincing as to why should you have a cofounder read our article on “Why have a Business Partner?”
Without much ado, let’s dive right in.
Qualities of a co-founder
First let’s talk about the qualities you must look for in a potential co-founder. A perfect co-founder:
Resonates with your vision of building a profitable company rather than wanting to make a quick buck by selling the company at a sub-par evaluation.
Shouldn’t be burdened with too many liabilities
May or may not have a complementary skill set but, is more importantly open to learning
Shares your passion for solving the problem
Effectively explain your idea.
Your potential co-founder will want you to be serious about starting and building a company hence a novice message like “I’m looking for a co-founder for building the biggest, bestest company ever” won’t cut it. You need to chart an appealing story about your business.
Identify the problem: Start with a statement that encapsulates the problem you are trying to solve. For example: “Do you feel the
Explain the solution: Again in one sentence explain how your product/service will address the problem
End Result: Envision an ideal world where everything goes right. What will happen if your start-up is successful? What would it mean for your users
Make it personal. Tell people what motivates you to solve the problem. Good business plans do not excite people as much as good people do.
Facebook, LinkedIn, Gmail and even WhatsApp may seem obvious choices to share your story but let me take the liberty to introduce some very interesting alternate platforms:
It’s a network of 40,000+ founders, advisers and interns all looking to work with start-ups. The free plan allows you to contact up to 5 people a month.
This allows one to join using their Facebook profiles and also enables one to filter out the searches using location and skill set. However, it is only available for people in London, New York and Israel.
This site enables you to find co-founders based on their skill set. Be it developers, designers, engineers, marketers, product managers, business developers, salespersons and advisors. You can also launch your startup on the site, get your very first customers and get funding.
Start Hawk seeks to build a global community of entrepreneurs connecting people from across the globe to found companies.
It’s the perfect place to find a CTO or work under one to build your tech start-up.
The Real Test: Working Together
Before hiring anyone in a rush, ask the people, one at a time of course, to work with you on a “No Strings Attached” basis. Talk about your goals for the company together and get to know each other better. You will have a much better idea of whether you two are compatible to work or not. Most start-ups fail because of people problems and getting a feel of who you are going to work with increases your probability of finding a much better companion!
That's it! If everything works out, you are on your way to being the next unicorn!