Entrepreneurs- for those that have business partners, how did you all find each other? I’m preparing to launch my own company, but feel it would be a lot easier if I had someone else as a co-founder/partner to help bring different skills to the table.
Thank you in advance for your feedback.
Ryan
Answers
Much depends on the new company’s plan and capital requirements. Do you have a business plan, presentation and proforma? What’s the business??
Ryan - Good question. The best matches for me were my friends from college. However, they did not want to leave their stable careers to risk working with a start-up (although they became financial investors). I tried CoFoundersLab (used to be called FounderDating) and spoke with a couple of people who just weren't a good match for me. Perhaps you will have better luck using this free site: https://cofounderslab.com/?from=founderdating. Just use your LinkedIn sign on to create an account.
Thanks for your service Ryan. Having a business partner is a little like entering in to a marriage - most of the same relationship dynamics - which requires a lot of work, while you’re putting in a TON of work in to your new business. The right person is hard to find, and a lot of owners go it alone but build a solid team over time to help them. I also know a lot of people who relied on family members in the early years to help them get going.
Have you thought about hiring someone to share the work, bring a complimentary skill set and perspective, that needs an opportunity? This could be a young person starting out that isn’t in a position to demand a high salary, or would exchange some salary for profit sharing, etc. - someone who needs to get out and learn and is eager to prove themselves. For me, these were some of my best employees/team members. They grew with the business, which provided so much value and stability. And, we had fun figuring it all out together. The characteristics they shared were hard working, honest and open communicators (told me when I was messing it up), and we enjoyed being in each other’s company (you spend a lot of time together).
I hope you find your person Ryan; the best of luck to you!
Beth
Your Answer
Please log in to answer this question.