The spark of an idea is always from one person. However, the who bears the legendary mark in making the business a success is never clear who is that one person.
I have to say, the original idea of FlashJobs is mine. I will write another piece of what was the original idea of FlashJobs which initially was conceived as Part-Time Workers Management System (PTWM). Even though the idea was mine, I know I alone cannot make it great.
Just like most startups, great startups, there has been at least two people involvement. A Founder and Co-founder. A business savvy person and a technical person. A Founder is the business person or the technical person is a trivial issue. What is a matter of most is that the chance for success is greater of the startup is more than one person. Of course, I am not being specific here in terms of the stage growth of the startup. I am generalizing here, a two or max 4 person team is great if the startup is at ideation stage till C or D series of funding.
Let me repeat my sentence above. Just like most startups, great startups, there has been at least two people involvement. Why is this so?
First, you need to bounce your ideas around. Here, I am referring to ideas as you implement and test your main idea.
Second, the other person can act like a sounding board. Regardless if the co-founder or founder who is listening is an expert.
Third, two person is a team and looks more credible from investors perspective when you are raising money.
Fourth, a technical person with the original idea need a business minded person and the business savvy person need a techie to get the solution out quickly. True, one person can do all business work and technical solution all by himself or herself but the learning curve will take time. Worse if the idea came from a young technically skilled person who doesn’t have the business experience, or the idea came from an experienced business individual, most probably old geezer, and will take time to learn how to learn new technical subjects.
Fifth, too many things to do within a startup and you cannot do it alone. So it makes it easier if you have a co-founder. I always say to CEOs of startups.
Your Startup will eventually consume your time. Your waking hours.
Sixth, you need a backup to hold the fort when the other has to do other matters which is not related to the startup such as illness or holiday with the family. Hey, we are only human and other parts of our lives do take priority.
Having said the above, there are disadvantages you have to bear in mind having a co-founder. Even though these are recognized disadvantages, to me, the advantages of having a co-founder far outweigh in not having one.
First, both of them need to be in sync of the monetary objectives of the startup.
Second, both of them need to be in sync of the non-monetary objectives. By non-monetary here I am referring to of the Why the startup exists. This is the most difficult to achieve. However, the slight inclination in understanding and empathy of the Why is sufficient to drive the Why forward. Both of them need to constantly remind each other of this Why as time progresses.
Third, both of them need to be in sync with the timeline and urgency of the startup. If they are not in sync either one must accommodate the other’s timeline. Hey, we are only human and other parts of our lives do take priority.