When you are first starting out as a founder of a company, you may be caught off guard by some of the problems that can arise within a business, especially a new one. You may also discover that while you are very good at what you do, you may not have mastery of every skill needed to make a new venture truly thrive.
Having a trusted partner can, therefore, be crucial for the success of the business. A good co-founder can offer guidance and an alternate perspective on budding problems, as well as possess skills in areas you are not as strong in. So how do you choose the right co-founder, someone who will help you develop a thriving company? To help, members of YEC Next discuss some key things to look for in a co-founder, as well as why those traits matter. Here’s what they advise you seek:
PHOTOS COURTESY OF THE INDIVIDUAL MEMBERS
1. Consistency
One of the traits I value most in a co-founder is the ability to stay consistent and even-keeled in tough situations. Running a startup is a roller-coaster. In the lows, it’s natural to get stressed. When that inevitably happens, it helps to have a co-founder who can bring balance to the team, provide a different perspective and think about the issue in a comprehensive way. – Kyle Wiggins, Keteka
2. Integrity
It is imperative that your co-founder has integrity. You have to have absolute trust in your co-founder or business partner. You will likely spend more time with this person than your own family and when you are not able to make decisions together, you have to be confident that your co-founder is making the best decisions for the business. – Stephanie Cartin, Socialfly
3. Versatility
A co-founder needs to able to do work that is required at the administrative level and the creative level, and must also be able to work at the bottom of the chain. As a co-founder, he or she needs to be able to take my place at any given moment. He or she needs to know the inner workings and must be able to manage it seamlessly. Technically, I would look for a “jack-of-all-trades” in a co-founder. – Ajmal Saleem, Suprex Learning
4. Passion
We pride ourselves on having people on our team who are passionate and motivated about what they do. It is important that a co-founder recognizes your aspirations, drive, desire, mission and passion, and share it. Make sure this person is committed to the same values—it will have a high cost to give a percentage of your company to someone who disrelishes quickly. – Jessica Baker, Aligned Signs
5. Trustworthiness
Integrity and trustworthiness are the basis of any good relationship, but especially when co-founding a company. Having someone you can trust and who represents your core values is crucial to building a successful foundation for your company. All companies face significant challenges, and without a solid foundation between co-founders, your business will struggle to get off the ground. – Matt Bigach, Nexus Homebuyers
6. Communication Skills
When building a company from the ground up, effective communication skills between co-founders is the most valuable trait. Entrepreneurs are typically risk-takers, full of great ideas, but this won’t lead a business to great success if the co-founders aren’t on the same page. The ability to discuss goals, create action plans, and regroup effectively, will ensure continued success and prosperity. – Turath D’hont, San Diego Moving Company
7. Willing to Challenge All Ideas
You don’t want a co-founder who thinks exactly like you. Yes, he or she should share the drive you have and core values, but when it comes to business ideas, the most valuable co-founder will challenge your ideas and propose a different view. The co-founder should also have a different set of skills than you—think Steve Jobs and Steve Wozniak. One Steve was a genius marketer and people person, and the other a complete tech geek. But when combined, they drastically changed the world. – Ron Lieback, ContentMender
8. Being In This Together
Recently, my co-founder gave birth to a baby girl and took three months to be with her newborn, while I took care of our first-born child, the business. I thought I could continue doing my regular duties while the work buzzes along as usual. Wrong! When you work with someone every day, sometimes it’s hard to identify what tasks they regularly take on that make your life infinitely easier. What I discovered while she was away: I missed the shared responsibility. Having a sounding board, for anything from new ideas to implement to deal with crises, makes you feel more confident in your decisions. The feeling of being “in this together” cannot be overstated. I also missed her complimentary skills, which are like the yin to my yang, as she shines where I am lacking and vice versa. Finally was attitude: She also possesses a “can do” outlook. When it’s time to step up, she’s there, and her positivity, charm and calm in face of adversity has helped our business thrive. Ultimately, being and having a co-founder is a commitment, so knowing that no matter what, your partner will be there with you, ready to take on any problem that arises, is the best feeling of all. – Emily Nhaissi, Craft & Root
