Should you get a co-founder?
Alex Laribi – Founder of Generate Awareness
4 good reasons to get a co-founder(s)
1) With a co-founder, you can do more work than on your own
We can’t ignore the fact that a team of co-founders will have higher productivity than a single owner; it’s more evident when each team member has different and complementary skills. The build-up process is the first and longer step for any company. If the business idea and the business plan are prepared wisely; the company could trade and get its first client within its first week.
2) Several brains are better than one
It’s always beneficial to solve a complex problem when we are at least two. Each person is unique and has his own way of thinking. Subsequently, having a different perspective on a subject or issue is not advantageous, even more, it’s an asset! Your co-founder can see things that you aren’t able to notice.
3) More money can be invested
Again, the more we are, the stronger we are. Capital is the muscles of a company more capital means more capability. So if you are with one or more co-founders, you could invest more money together.
4) Support for each other
Period of doubt could come forward after a setback. It’s easier to solve problems with a co-founder rather than on your own. And, what about motivation? It’s always good to get the support of your co-founder and vice-versa.
4 good reasons to lead the business without a co-founder
1) Smooth decision-making
I think it’s the best reason for not having a co-founder. You don’t have to convince your co-founder, or your board when you have a new plan, and vice versa. You’re the only chief on board, and you lead the boat your own way. If your company reaches the next level it’s thanks to you; it’s also true in the case of a failure.
2) Saving time
This reason is linked to the previous one. You won’t have to argue with your co-founder during the decision-making process you will avoid the time-consuming meetings. After all in business but in life in general time is a valuable thing to use wisely.
3) No profit to share
It’s not the noblest reason, but the purpose of a business is to make money. Nobody mentions it on the elevator pitch, but it’s the real and underlying reason. So you’ll earn more money when a profit comes forward because you will not have to share it with somebody else.
4) Avoiding conflicts between shareholders
Disagreements and conflicts are inevitable in a relationship with a co-founder. For instance, one is pulling his weight more than the other one, or one is taking credit of the team-work. In other words, the same conflicts you come across at work will appear in a team of co-founders. As well, conflicts of interests of all nature are known in a lot of boards of big companies.
Now, you know more about the ups and downs of having a co-founder(s). What is best for you? Having one or ride alone? Share your thoughts in the comments below.