The Bad Co-Founder
Whether you getting into business with someone or if you already started one with a partner it’s never too late to evaluate them and see if you made a good investment putting them to work with you.
Sometimes entrepreneurs tend to doubt themselves and think that they need someone to work with them in order to make something workout (that was me before).
There are other entrepreneurs who just want the company of someone else and thinks that with a partner they’d seem much more authentic and they’d look better to investors.
And of course, some others would work with friends, family members or their spouse.
Now, I’m not here to declare that any of these scenarios are bad but I want to bring awareness to the cost of each and every one of them.
Working with others as a fuel:
Just to throw it out there… the fact that you working with someone doesn’t mean you all the sudden your company will start coming together.
You don’t realize that doubting in yourself will affect your execution results because you are not trusting that what you doing is valuable. To heat things up; you got to note that your business partner might begin hesitating to make a choice in working with you because you seem now dependent on them and that’s when everything goes downhill.
Working with others to be more authentic:
It’s really great if you got someone to work with you and at the end of the day when you both win you’ll know it was because of teamwork.
Now, a lot of entrepreneurs think that it looks more authentic to have a business partner when you pitching to investors.
This really goes 2 ways!
One: You can have a business partner you happen to get some results from your venture but you guys don’t know really what’s going. In the eyes of the investor they’d probably like to invest in your company but for the fact, one of you don’t know what’s going on you’d be dismissed.
Two: You don’t have a business partner but you know what’s going on! In this case even tho you might be yourself you have better chances to win an investment from an investor then scenario one.
It really depends on how you execute with or without the business partner and also depends on who is your investor.
Working with family members/relatives:
There is nothing better than working with your family, friends, or relatives in a business.
Well, when things are working well!
There are many kids that are in business because their parents have brought them in and those businesses don’t scale because the kids are not interested in being in business but rather just to clock out.
There are others who love the fact that they working with someone they know but they not realizing that when you get into business with whomever it is that you love; there would have to be a whole different relationship.
Just because I’m working with my mom doesn’t mean everything has to be cute and sweet because at most that wouldn’t work!
(And, if it does work for you keep that up)!
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Everyone just needs to know that when you in business don’t give out the co-founder position like candy; sit down and think to yourself “why would you want that person to work with you”? “ With this person working with me how can he or she invest back to the company”? Once you get your answers that’s when you move forward and make your decision!
Thank you for reading my article! Feel free to leave a comment or learn much more about me below!!
More about Myself:
I’m 17 years old | Philanthropist |CEO of The Scaling Sauce| Speaker
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