They'll hold up half your sky

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They'll hold up half your sky

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Entrepreneurs who know they need co-founders usually start searching for them when they start thinking about how their venture will operate. If you are looking for a co-founder, you’ll want someone who can bring in good value, sound ideas, some capital, and the enormous energy required to nurture and grow your venture. Here are some suggestions on how you can go about finding the right co-founder for your venture.

 

Think ideal fit

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The first thing you need to do when looking for a co-founder is to ask yourself this: “Do I really need a partner?” If the answer is yes, then “For what?” and “What will s/he do?” and then “Who will fit in the best?” Answering these questions will help you figure out who you are looking for. Now, with your ideal partner in mind, start searching for someone who will be the right fit. You’ll probably realise that family, friends, and your spouse are the least likely candidates to turn into your co-founders. Conduct a rigorous search and don’t compromise on your standards.

 

Look for complementary skills

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Partnerships made up of people from differing backgrounds succeed when compared to ones with similar people. Begin by listing your own business strengths and weaknesses. This will help you understand yourself and see what assets the company already has. Now, write down what partner skills and experiences would best complement you and help strengthen your business. After you figure out what gaps you want your co-founders to fill, you can start your search. If you pick a partner with complementary skills, they’ll not only perform well, but you’ll also lower your chances of conflicts arising in the partnership.

 

Get networking

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Entrepreneurs need to take networking seriously. Networking is useful not just for public relations, but also for finding good people to partner with. Networking platforms and events are great places for meeting amazing people, getting introduced, and building relations. Attend entrepreneurship talks, business seminars and industry conferences, and join the entrepreneur forums and local business organisations in your area. Because these platforms bring together passionate and likeminded people, the chances of your finding good cofounders there are very high.

 

Join online communities of entrepreneurs

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In today’s global economy, your ideal partner may be someone who lives halfway around the world. The rise of technology and access to the internet has made it easy for people from different places and business cultures to come together to start a business. You can make use of several platforms to reach out to the best people around the globe. As a founder, you should be an active member of various entrepreneur groups and forums on Facebook, LinkedIn, Quora and Google Services, among others. There are also platforms like Angel List, Co-founders Lab, STARTUPS Nepal, etc, which help you connect with prospective partners.

 

Follow up with co-workers, colleagues and associates

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The best place to find the right people to work with is the college you attended or a company you worked at. Because you’ve already spent quite a lot of time with the people there, you’ll have gotten to know them very well, and you’ll know what values s/he can bring on board. If you were impressed with someone’s drive and capabilities in college or in a prior work place, now is the time to re-connect. You can talk to them, share ideas and check their interest and availability.

Once you have built the right partnership, you will want the partnership to continue for a long time. To ensure that, prepare clear roles and responsibilities for all the co-founders, and create partnership agreements. Always keep your business transparent and make sure that your legal matters are in order.

All your partners should help create your company’s business plans, work to execute them and have the same vision. In addition, you should help your co-founders regarding problems they face outside of work.

*First published on M&S VMAG

Comments

  • Guest
    Joshep Wednesday, 07 September 2016

    I need a cofounder for my Ecommerce company :)

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Guest Thursday, 11 August 2022