How do you evaluate a potential co-founder?
Evaluate Your Potential Co-Founder to See if it’s a Match
- Choose a business objective that you can achieve in 60 days.
- Clearly define the project.
- Mutually commit to achieving the deliverables in 60 days.
- As you work through through the objective ask yourself:
How do you choose a co-founder?
How to Pick a Co-Founder
- A complementary temperament. If you tend to run a little hot in a tense moment, get yourself a Cool Hand Luke.
- Different operational skills.
- Similar work habits.
- Self-sufficiency.
- A history of working together.
- Emotional buoyancy.
- Total honesty.
- Comfort in her own skin.
What makes a good co-founder?
A great co-founder has to be someone with whom you have a shared vision. When opening a business, you need to have goals and aspirations. If you are looking for a partner, they have to share the same goals and aspirations for you to align your vision together.
What should I ask a potential co-founder?
Related: 4 Tips to Avoid Co-Founder Conflict
- Why do you want to start a company? (It’s important they answer why they want to start a company right now.)
- What motivates you?
- What do you do with your free time?
- How do you deal with stress and big challenges?
- What do you think I’d be most surprised to find out about you?
What is a co-founder?
A person who is involved with helping in the creation of a business, organization, union, or entity, but is not the original founding person.
What do co-founder do?
A co-founder estimates costs to bring their product to market, develops financial plans to determine break-even points and ensure long-term solvency, and sets budgets as the company grows. Part of this role can also involve seeking out additional funding and investors for a new venture.
Why do you want to be a co-founder?
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.
Why is the founder important?
The main reason may be that founders are incredibly vested on their businesses, emotionally and rationally. Their companies’ success is the number one priority in their lives. When a founder does well, investors, employees and the whole ecosystem are directly benefited.