There’s a lot of debate on the internet for and against having a co-founder.
On one hand, some argue that the most successful companies were started by multiple people, even those only known for one person.
- Microsoft was founded by Bill Gates and Paul Allen
- Mark Zuckerberg actually had four co-founders
- Steve Jobs had two — Steve Wozniak & Ronald Wayne
I’ll call them the Y-Combinator School of Thought.
On the other hand, we have those who use Bytedance, Amazon, SpaceX, and 302 other solo-founded unicorns in this article as proof against.
I’ll call them the Elon-is-a-god School of Thought.
The data as of 2023 even leans toward solo founders as solopreneurship and 1-person SaaS startups gain popularity.
Then, there are those in the middle who support the case-by-case argument. No one-size-fits-all. I’ll call them the Sidikat School of Thought because I agree with them.
Although accelerators like Y-Combinator and some venture capitalists favor co-founding teams over solo founders, it’s up to you to decide whether you want to have a co-founder.
Don’t mistake it as a choice between failing or succeeding.
It’s just a choice between failing or succeeding with or without a partner.
Here are 3 reasons for having a co-founder:
1. Higher Productivity
Two heads are sometimes better than one.
Having a co-founder can slow you down but also help you build faster and better, especially if you’re a non-technical founder building a technical product.
Here’s how productivity improves:
- High-Quality Work
Your startup, like every other, will be a complex puzzle.
With two or more brains working together, you have diverse perspectives, skills, and experiences, which allows you to create a unique and comprehensive solution.
- Quantity of Work
More hands mean more work gets done.
With a co-founder, you divide and conquer tasks and cover more ground efficiently.
If you get it right, each person specializes in a priority aspect of the startup and moves the business forward faster.
- Accountability
It’s like having a buddy system on a trip.
Co-founders act as your professional accountability partners and remind you of the important stuff.
You cheer each other on, actively ensure crucial details aren’t overlooked, and ensure no one gets lost along the way.
2. Moral Support
Everyone has their moments of optimism and despair.
Unfortunately, startup founders have very lengthy moments of despair.
You’ve probably seen this famous startup curve or a variation of it.
You’ll need much moral support at the ‘trough of sorrow.’ That’s what co-founders can give you.
Co-founders cheer you on in the good times and lift you up in the tough times.
- In moments of optimism, they are there to share the excitement and celebrate victories, big or small, with you.
A co-founder will high-five you when things go right, providing the morale boost needed to tackle the next big challenge.
- In moments of despair, they are your anchor, helping you face difficulties with courage and figure out how to overcome them.
They brainstorm solutions and share the load with you.
3. Chances of Success
There’s really no concrete proof that having co-founders increases your chances of success.
In fact, a lot of data on the internet are against having one at all.
But this is where my two previous points add up.
If you choose your co-founder right, it’s safe to assume that higher productivity and better moral support will culminate in an increased possibility of success.
In conclusion…
Just as we can argue that not all superheroes need a sidekick (in fact, most of them only kinda sorta have one), we can say that a founder doesn’t need a co-founder.
But if you choose to have one, you give yourself a partner in crime (the good kind of crime, like building an incredible business).
Your co-founder should be a reliable partner who shares your vision, multiplies your efforts, and, ultimately, increases your chances of success.
Together, you can create, grow, and make the world a better place.
Or you could still fail.
Like I said earlier, it’s not a choice between failing or succeeding.
It’s a choice between failing or succeeding with or without a partner.
(Just had to remind you of that).
P.S. I’ll write a follow-up article titled “3 Reasons You Shouldn’t Have a Co-Founder.”
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