There is no doubt that selecting the right co-founder for your business is the most important decision you make. You will hitch to him/her in the future and go through the challenges and good times together. It is more like a marriage as you remain by each other’s side along the way, and you both make harder decisions together. The only difference is that you both have a dozen of employees rather than a few kids. You might struggle to find a like-minded person who understands your vision is not a cakewalk. You need someone who is willing to go into your business with you. If you don’t know how to find the right co-founder for your business, consider the following 5 proven ways before tying your business knot with someone.
1. Find a Co-Founder You Can Trust
Trust is something more valuable. You need to have some trusted people when you are going to start your own business. So it is important to find a co-founder you can trust. In business, there is a number of opportunities for people when they show dishonest behavior that can drain your business. A dishonest partner can permanently damage your company and its ethics. So when you find the cofounder for your business, find the one who is trustworthy.
2. Network To Find Co-Founders
When it comes to finding the co-founder for your company, networking can play a great role. You can find the right person by networking as you network to find an angel investor. Attend industry conferences, local business organizations, and entrepreneur forums for this purpose. Even joining entrepreneur groups on a social media platform like Facebook and LinkedIn can be helpful for you where you can interact with like-minded people.
3. Follow Up with Acquaintances From a Prior Job
In your prior job assignment, if you were enthralled with the capabilities and drive of your associates, connect with them and ask about their interest, availability, and recommendations. But try to avoid non-compete obligation and employer conflicts of interest.
4. Join “Dating” Sites For Business Partners or Co-Founder
Sounds bizarre? Yes, it is, but it exists. On the matchmaking website, create your profile about your business and yourself and go looking for the business match like you do on dating websites. Also, check the profile of other people and see who has the good personality and right skills set to join the bandwagon with you.
5. Have Similar Work Habits
When you are choosing your business partner, ensure to find someone who has similar work habits like you. Make sure that he/she is willing to work similar hours and o same amount of work that you do. Even his/her communication style should be similar. If you like to follow the 9 to 5 schedule and spend time with your family after 5 p.m., then it might be difficult for you to work with someone who does his/her best work at night. Entrepreneurs work more than 40 hours a week. Many entrepreneurs work more than 70 hours a week. So make sure that your business partner is willing to put in the long working hours when needed.
No matter who chooses to become your business partner or co-founder for your company, make sure that choose the one who is trustworthy. Remember that your network and skills will not save your business if your co-founder stands to be in the same place as you are. Finding the right co-founder for your business is not an as easy task as it sounds, but we hope these tips and tricks will surely help you find the right person who you want to become your new business partner or co-founder.