A start-up can pose a set of unnerving challenges. Most importantly, the dearth of leadership qualities at the top can be a nail in the coffin for a brilliant idea. Without the much-required assistance, solo founders can find themselves in the middle of an ocean with a boat full of employees clueless about guiding the ship. Similarly, the business ship would sink too if is forced in two different directions, leading it to become a never-ending traveller in the ocean. Hence, it is important to consider brilliant co-founders to join, grow and protect a valuable business.
Complimentary Skill set
Startup founders are often young enthusiasts. According to a recent global study, the average age of an entrepreneur these days is 27.7 years old. Earlier, the average age of a person starting up a business was 35.3 years old. Hence, it is likely that at such a young age startup founders can find themselves a little short on exposure. This means that the main founder might be well versed in the core IT product but might not have any idea about marketing, distributions and building a customer base. In such cases, it is important for founders to take a good look at their shortcomings and make sure they bring people on the company board which complete the other side of the equation.
Co-founders are often granted visionary positions in organizations. This can include making them vice president of a company or making them the head of a particular department. Leadership must be instilled in their DNA to be able to do justice to their position. As a founder, you can certain questions to yourself to evaluate the oncoming person. Does this person have a clear roadmap as to where the organization should go? Would he able to articulate his position even to a 7-year-old if required to do so? Does he invariably command respect and admiration for his actions? It is important for you to trust and admire this person with your raw instincts always.
There is a wonderful quote on honesty by Warren Buffett. He says, “Honesty is an expensive gift. Do not expect it from cheap people”. It may come as a surprise to you that we have included honesty as a defining trait to judge co-founders. However, honesty is the foundation of any relationship. Whether you are hiring a maid or a business partner, honesty is a must to build trust and cherish the outcome for a lifetime. An honest partner would tell you that you least want to hear and that’s a good thing. As you take a long and gruelling journey in life, you will be blinded sometimes by your past, emotions and your objectives. It is important to select a co-founder who shows you the right path with honesty when it is in the best interest of your future.
Hope you liked the qualities we have put together. Please share your thoughts through comments.