They say picking a co-founder is like picking a husband or a wife.
- It’s not casual — you’re in it for the long haul
- You need to be intentional about growing together
- If you succeed, you likely share your entire life and work with them
Don’t do it if you don’t feel that level of commitment.
You might be tempted to treat your co-founder like a co-worker, with a line between life and work and having them firmly on the work side.
But being in a startup environment is anything but conventional. There’s no life and work. They are the same.
If your co-founder is not someone you would trust with your life, you probably shouldn’t have them around.
Here are three more reasons you might be better off going solo.
1. 65% of startups fail due to conflict among co-founders
Like every other type of relationship, co-founders won’t always agree.
And where money is involved, things escalate very quickly.
Here are some top reasons why co-founders fight:
- Power struggle
Co-founder relationships that succeed have two types of co-founders — the behind-the-scenes guy and the visionary.
Think Steve Jobs and Steve Wozniak, Mark Zuckerberg and his four co-founders.
Conflicts arise when two or more co-founders are visionaries. They all want to be the face of the company or the primary decision-maker, which never works.
- One person doing more than another
As co-founders, you would have the same equity in the business. If not, you should.
Having unequal equity usually translates to different levels of commitment. You might be okay with that.
But later on, resentment might build when one person feels like the other is not pulling their weight.
This can blow up in everyone’s faces pretty quickly.
It becomes especially problematic if one person decides to take another job, leaving the other feeling like they’re shouldering an uneven burden.
- Co-founders have different ideas, opinions, and visions for the business
Some disagreement is always good for your startup’s growth. But too much of everything is terrible.
When co-founders’ ideas and visions differ by miles, it’s usually the start of a nasty breakup.
- Different work ethics
Different work ethics aren’t necessarily deal-breakers, but not discussing them is.
Co-founders who don’t have that conversation about work ethics end up with different expectations of working hours, workload, and communication.
- Lack of trust
Trust is the foundation of every successful relationship.
A lack of faith in your partner’s skills, commitment, or ability to work efficiently with you can sink your startup faster than you can say “trust fall.”
- Role Ambiguity
Lack of clarity regarding each person’s roles and responsibilities can create tension between the co-founders.
When it’s time to make a final decision about critical matters like funding or equity distribution, having unclear roles means there’s no one final decision-maker.
It slows down the process and leads to endless arguments. Those are never good for business.
2. Difficulty finding one
Finding a great co-founder who shares your vision and is willing to work with you takes A LOT of time.
Most times, it’s like trying to find a unicorn.
Some people give up before they ever do and go it alone. Some have regretted having a co-founder too often and know it’s not worth the time.
There’s a sense of urgency in having an idea you believe in that makes you want to move faster.
The search for a co-founder is likely to slow you down.
3. Coordination and communication challenges
Coordinating schedules, workloads, and tasks between co-founders can be challenging, particularly if you work remotely or have different work styles.
Co-founders may also find it challenging to reach consensus on strategic shifts, potentially slowing down the process of pivoting quickly.
On the other hand, going solo means…
- making decisions without the need for consensus
- maintaining full ownership and control over the business
- having the flexibility to pivot and adapt swiftly to market changes.
While having a co-founder may seem like a great idea, as I explained here, the downsides far outweigh the positives if you don’t do it right.
Even Paul Graham, known for championing having a co-founder, once said,
“My advice is not to choose a co-founder but to work with people that share the same vision, goal, and enthusiasm till eventually, it will become clear and obvious who will become your co-founder.”
Picking a co-founder is not the first thing that needs to happen. Sometimes, having employees with stock options is a more sensible choice.
If, along the way, you start needing someone to share an equal burden with, you’ll find my next article about finding the right co-founder helpful.
Just hit that follow button so you don’t miss it.
