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Why do you need a cofounder?

Starting a business is really hard. Running it is even harder and more stressful. Startups require far more time and effort than a 9-to-5 job. With so much money on the line and continuous threats from the competition and the risks involved, it is nice to have a partner in your journey who shares your vision and on whom you can lean on, especially in tougher times.

Support of Investors
Investors, generally, tend to support companies which are run by a team than those who run solo. They trust companies with multiple founders and are likely to fund them more easily. So it is best to get a co-founder or co-founders by your side if you want to make the funding process smoother.

Better Decision-making
You don’t want your company to run like a dictatorship, where every decision you take is the final call. Of course, you would have advisors, but a co-founder is your partner. Not only would a co-founder act as a sounding board for all your thoughts, but also actively aid in making the final decisions. You will come up with more ideas through brainstorming and also will be better equipped to seal the loopholes in those ideas by questioning each others’ ideas. That’s how startups end up developing a solid backbone. At the end of the day, a difference of opinion can be healthy and can help in seeing the larger picture if the end-goal in sight remains the same.

Division of Responsibility
There are just too many responsibilities in a startup. Running a company is not a walk in the park. There is too much running around to get even the smallest tasks done, especially when the company is in the initial phases and you have to double up as both manager and employee. A co-founder divides the stress and responsibility associated with running a startup. As a result, you end up having a better work-life balance.

Complementary Skills
Everyone comes from a particular background and thus it is impossible for someone to be good or great at everything. You might come from a Marketing background and thus be well-versed with the Marketing problems or concepts but you might have little or no idea about the other areas that make a startup like finance, tech, logistics etc. Having a co-founder team with complementary skill sets is a boom for a startup. Different backgrounds also translate to different viewpoints, leading to different ideas. The work also flows quicker and more smoothly as every co-founder will handle departments according to his skills.

Risk Mitigation
With the huge risks involved, you would want someone to shoulder them with you. People forget that a co-founder does not share only the profits, but the losses too. The investors too would like to decrease their risks by funding a company with multiple founders. A founder is the heart of the company but what if he leaves? The startup might die with the exit of the founder. Having multiple founders means greater stability in the minds of the investors.

Having a co-founder keeps you in good spirits and on your toes even on your bad days when you do not feel like going the extra mile or stepping out of your comfort zone. No matter how great a master of all trades you might think you are, chances are that the reality is you are just a jack of some trades and perhaps the master of none. This should never deter anyone from taking the entrepreneurial plunge. So get like-minded people as your partners who complement your skills and take your business to heights that would not have been possible with only you handling all the affairs of the company.

Who are You?
My name is Ola, a web product developer with over 10 years working experience that spans across the military, banking & finance, project management and Information Technology.

I am an easy person who loves to work with people that are smarter than me, who can share more superior knowledge with me, with the aim of getting the best results from whatever i do.

I am a sociable person as well, i love to laugh and i love to also make people laugh, all because i understand there is nothing in life worth grudging for.

What are you looking for in a Cofounder?

Hacker Midset
A hacker is someone who can make a 20% effort and reap 80% rewards. Someone who’s great at finding workarounds, picking low-hanging fruits, and achieving quick wins. These successes will matter much more, because at the beginning of every startup—before the product, the market fit, and before profitability—morale is all you have. The work of a good hacker can help you keep going in conditions of extreme uncertainty.

Finding a versatile full-stack engineer helps a lot. The best technical co-founder is someone who can quickly design a screen from Bootstrap components, create the back-end architecture, and write the HTML, CSS, and JavaScript—even if that means trading off speed for quality in the short-term.

Master of ruthless prioritization
As an early-stage startup, you’ll get a lot of unsolicited advice. People will tell you what product to build, what features to include, and what business model to use. These people mean well, but you can’t let them distract you. A co-founder must be able to work through contradictory feedback and develop a clear list of priorities for the product and the technology you use.

If you’re like a typical startup, you probably will pivot at some point of your journey. Pivots have the potential to be most difficult for technical members of the team, since driven technologists can spend months designing the perfect architecture for the most elegant solution they could be proud of. While I understand the sentiment behind it, this approach is foolish in an early-stage startup. You will need a co-founder who understands that technical decisions are temporary, and knows that MVPs are sometimes just placeholders for the real product. Such a co-founder will be able to jump ship and move on to the next prototype without holding a grudge.