The co-founder of your business should have a compatible mindset and have the necessary skills and ability to improve your business.
While starting up a business, you dream of turning it into something bigger and achieving success. But this is difficult to carry out alone.
10 Important Traits Your Co-Founder Must Have
Growing into a large company requires a lot of hard work, dedication, and a set of skillful people who are also willing to be as dedicated as you. The Co-Founder of the company is the second most important person after the founder.
So, many things depend on the co-founder, and he plays a vital role in the success of your company. Therefore, you must be very calm and careful while choosing your Co-Founder.
If you rush too much, you might end up with the wrong Co-Founder and harm your business.
The Perks Of A Good Co-Founder
The Co-founder of your business should be a reflection of you. He/She should have complementary skills, mindset, and dedication to the business.
They can help you generate new ideas, and you can share and discuss your ideas with them. They can also fill your absence when you are unavailable. With a great co-founder, you can be assured that its leadership will be much stronger and more stable.
Most companies and businesses these days have an online version and an offline version.
Based on what you and your co-founder are experts at, one of you can lead the online platform, and the other can lead the offline platform. This way, the company can run smoothly on both platforms. You can use online platforms like LinkedIn or StartHawk to find a Co-founder for the job.
Now that you understand the importance of a Co-founder, let us take a look at the traits a right Co-founder should have
1. They Should Have Complementary Skills
The Co-founder of your company should complement your skills, just as you will complement theirs. This way, there will be a better understanding between the two, and both of you can work from the same mindset and have a unique perspective.
You must be able to understand each other’s strengths, weaknesses, and contemplate the whole business effectively.
When both of you complement each other, then whenever a problem arises, it becomes much easier to solve than it would have if you wanted to solve it separately.
2. Eager To Know More
The Co-founder needs to believe that whatever they know is not enough, and they need to learn more. They need to continuously develop their skills and knowledge to contribute more to the growth of the business.
So, the co-founder must always be willing to learn more, and this is a great trait. The co-founder best suited for your business’s growth is the type who will grow as well.
3. The Co-Founder Should Have Similar Dedication
You also must be sure that you and your co-founder are on the same page. If they are not as passionate or as dedicated as you are, then they will not be willing or be eager to help your business grow into something big.
A dedicated co-founder can also be a great motivator in difficult times.
So, since these co-founders will also have a share of your business’s success, you need someone who will not lose interest in the cause and enjoy the fruit of your hard work.
If both of you share the same motivation and passion, then you can share even greater success.
4. They Must Have The Ability To Adapt
In a business, not everything will always go according to plan. There will be easy times, and there will be tough times. To get out of dire situations, you need to take unexpected steps that might not have been included in your initial plan.
So, your co-founder must adapt to these changes and be flexible enough to cope with different approaches towards the business.
While choosing your co-founder, be sure to get the one who will not break down during these difficult times and adapt to the newer methods with a smile on their face. At some point, it should feel like there is a telepathic connection between you two.
5. Must Be Energetic
Since this is your business, it is obvious that you will be the one who is the most excited about it. But there can be sometimes when you feel drained out of your energy and even feel helpless. During these times, the co-founder needs to step up and help you get back on your feet.
Therefore, it is crucial to select an extremely energetic co-founder and refuse to stay down even after stress and anxiety. Running a business is no easy work, and you will need someone who has the firepower in them to keep on moving.
6. Honesty & Trustworthy
As you are the owner of the business, you will have many financial dealings. There are many ways of stealing some money away from those deals as there will hardly be anyone to track who stole the money.
Apart from money, there can also be valuable goods that might tempt someone to sacrifice their morality.
So it is of utmost importance that your co-founder is an honest person, and no matter how much money or valuable items are involved, they will not be tempted to act unethically.
7. Should Maintain Emotional Stability
As mentioned before, there will not always be smooth times where you will see steady growth. There will also come times when you use extreme difficulties and even see your business suffering heavy losses.
It is in these times that you must not give in to grief and hopelessness. You must have a steady mentality and the mindset to think everything calmly.
This is also important for the co-founder, as many things depend on them. With a co-founder who is seen grieving, overcoming the situation will be even more difficult.
A lot of things depend on the ability to have emotional stability in crucial moments. This will also reduce the chances of arguments between you and your co-founder and avoid irrational decision making.
8. Capable Of Making Quick Decisions
Often you and your co-founder will be working together. Although you are senior to your co-founder in terms of authority, both of your works are similar, maintaining the whole business and keeping it steady.
But there will be times when you will not be available. In these times, the co-founder must be able to make decisions based on their own judgment. A co-founder who is too co-dependent on you is not good.
9. Have A Friendly Attitude
Although your co-founder is your colleague, it does not hurt to have a friendly relation with him outside of work. This will create a better bond and better understanding that can impact your business. After all, the relationship between you and your co-founder is the most crucial business relationship your business will have.
The better you understand each other, the better you can work in your workplace and share similar goals and motivations.
10. Have Similar Long Term Vision
You have a vision that your business will grow into something big one day.
Although it sounds difficult, especially if it is a startup, it is not impossible. And so, to help you on your journey, you also need a co-founder that shares the same vision as you.
If you two have similar long term visions, you will work in harmony to achieve that goal. But, if you see that the co-founder is unwilling to invest their time and effort for the long run, it will be difficult for you to achieve what you desire.
Things To Be Wary Of
Just as Co-founders need some traits to be elected, some traits should automatically remove them from your list. Here are a few of those traits that your Co-founder should not have:
- Check your co-founder’s previous work records and see if they have any bad records regarding previous workplaces, colleagues, and bosses. If you find traits like arrogance, hard to work with, unethical, or unprofessional, they should not be considered.
- If your Co-founder lacks the knowledge of how to work from the position of the co-founder, then that should also be a sign of not hiring him.
- Unwilling to invest time and money into the business is a huge red flag. That shows they are not that into it. Avoid these people.
Running a business or a company requires a great deal of hard work and dedication, even more so if you have a big goal set in front of you. To achieve that grand dream, you obviously cannot work alone. This is where your co-founder comes to your aid and works alongside you so that both of you can achieve success.
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