A match made in heaven!

As a founder, choosing the right co-founder is the most crucial business decision you will ever make.  We say this because, most early-stage startups fail due to founder disputes, not the substance of the business. Your relationship with your co-founder becomes a high-octane, high-stake, long-term date. Moreover, choosing the right person for the business as a co-founder will determine the transition of your business to the next level. 

For this, there are several things you must know and do. There are many things you must know but never do. So, here are a few questions you can ask yourself before choosing your entrepreneurial other half.

Is this person obsessed with solving the problem?

Dinesh Moorjani co-founder of Tinder was once asked what traits did he look for in his business partner? He identified two equally important traits: curiosity and passion for the problem. Rightly said by him, as an entrepreneur your passion and vision are at the heart of each decision you make. It is therefore imperative that your co-founder is just as invested in the problem you are trying to solve.

Will this person complement my skills?

The more key skills the founders can undertake by themselves, the better. So, try not to duplicate your  specialties. If you’re a marketing ninja, maybe you need a co-founder with a business mindset, who can look over your spending, or say you are a product guru, you will need a sales-oriented co-founder. This is a foolproof strategy, in fact, even within the same discipline, there can be differences in core operational strengths: often highly technical businesses will have more than one highly technical co-founder but each with their own specialty. 

Can this person communicate well with me? 

Listening is a very effective communication ability. Half the battle is won if you and your co-founders are good listeners. You will be able to communicate clearly as a result of that quality. It will allow you and your co-founder to resolve conflicts within. It is also easier to manage situations with employees, vendors or customers when your partner can communicate well. You need your co-founder to be a mouthpiece for the company, just like you.  

Secondly, having a business partner able to handle stress and frequent changes can go a long way in sustaining your business. You need someone who has learned to accept and manage changing situations. Such people are proactive and can stay on top of their work even if it gets hectic. They are confident and able to handle new challenges, which makes them well-suited for unpredictable jobs or lifestyles.

Can this person embody the culture I want to create?

Your co-founder must be a hustler like you. You cannot have a person looking for a stable income from your company. They must be mentally prepared to forego the salary in the initial years. You and your co-founder should be on the same page about when to draw your salary. That should not happen before your start-up generates revenue, or you can raise a significant round of funding.

If you're looking for someone hardworking and willing to put in the extra effort, you should probably look for someone with a strong work ethic and a willingness to learn. Someone with a positive attitude lives in the present moment and makes the best of what life offers. They maintain a healthy perspective and look for the good in others and themselves. That attitude drains negativity from their surroundings and allows them to be more optimistic. 

How will this person look in front of investors?

Fun fact: Investors look favorably at companies with dual founders. A report from The Startup Genome Project stated that solo founders take 3.6 times as long to scale as 2-person founding teams. Additionally, they are 2.3 times less likely to pivot successfully.

As investors, we would look at businesses with solid teams. It starts with founders and co-founders. They have to share a positive relationship that works in the interest of the business. There should be a clear guideline on managing the business without the other. In a conflict with a co-founder or someone who has to step down, there has to be an agreed path to a resolution to ensure business continuity. 

After making sure your answer does justice to these questions, make sure you and your co-founder have agreed upon a clear path ahead. 

This means you need to determine a clear bifurcation of roles and responsibilities. That should avoid the blame game later. You can always discuss plans for each area of strength and determine the action plan and responsibilities. That will avoid future conflicts and present a team picture to any potential investor. 

Partner conflicts can often take businesses down. When you choose a co-founder, follow rigor in the search. Do not compromise on the values you wish to build your business upon. Your partners have to share those values and work with you. Investors will not touch any business with the founders' conflict. That makes your choice of a co-founder all the more critical.