Choosing a Co-Founder [Without Losing Your Mind]
If you can’t trust someone, does it even matter how qualified they are?
Different people look for different things in a co-founder. Whether you’re after their technical knowledge, industry experience, or professional contacts, getting lost in someone’s credentials can sometimes do more harm than good.
We naturally assume that the more information we have, the more likely we are to make the right choice. In reality, our brains don’t work that way; scientists have been trying to tell us for decades now. In their study, On the Pursuit and Misuse of Useless Information, Anthony Bastardi and Eldar Shafir found that mortgage officers have a harder time seeing the big picture after seeking out additional details on a potential loan applicant. They found that:
The pursuit of missing information leads the decision maker to focus on it more than if it had been directly available.
Don’t Get Lost in the Data
The more details we gather about a person, the more our brain wants to put them to use (regardless of their relative importance), and the less likely we are to focus on what really matters.
In many ways, going into business with someone is like getting married. To make sure you’ve considered the long-term implications of your decision, it can help to ask yourself the same kind of things you would about a potential spouse.
Do You Trust the Person?
Going into business with someone requires a certain level of trust. Anything and everything your business partner does on behalf of the company will affect you.
Unfortunately, trustworthiness isn’t easily measured. Like with many other things in life, you just have to go with your gut.
Can You Communicate With Each Other?
Like partners in marriage, when business partners aren’t on the same page it leads to problems. You and your potential co-founder will need to have tough conversations. If they’re too afraid to tell you something before it’s too late, the business will suffer.
You don’t want a business partner who shuts down, storms out, or gets defensive when things get real. That will only cause problems, and you want someone who can help you find solutions.
If you can’t communicate with them, does it even matter how qualified the person is?
Key Takeaways
Big decisions are the easiest to overthink. People usually want to know as much as they can find out about a potential business partner. But getting caught up in someone’s credentials can make it harder to see who they are on a personal level.
Some of the most important qualities in a co-founder aren’t things you can find on their resume. Professional experience and past accomplishments can be exaggerated, but character and personality are harder to fake.
