How to Choose a Startup Partner
Choosing a startup partner is just as important as choosing a lover to marry. It would be a waste of each other’s time if there were disagreements between them. But just like marriage, they need to look in the same direction. A successful startup venture is like a happy marriage.
How to choose a startup partner
Starting a business, it’s easy to get excited because it feels like you’re going to be the boss. But this excitement will be much less when you have to choose who to start with you if the business idea is needed, and this is an important job.
You and your partner are co-founders and will share the same pride so getting to know each other’s qualities before starting will save you a lot of time and money later.
One startup expert tells people 4 critical things to consider when starting a business with a partner:
When you ask about your experience in starting a business with your partner, the first thing they advise you is that the co-founders will be a good “team” if they have complementary skills. You need to find the right person whose strengths can complement you and whose weaknesses you can help. So if you are a technical engineer, you need to find a partner who is not technically inclined and has experience in management and business.
Depending on each person’s skills, you can have a frank discussion to determine each person’s role in the company. Defining roles early will help you define each other’s expectations to establish a lasting relationship. If you choose someone who has a different approach to the problem you will be doing well because they will challenge each other, look at the problem more closely, and ultimately make the company more successful.
You can read the previous article here: Legal Risks Startup Needs to Know
Respect each other when finding a startup partner
While having complementary skills is essential, mutual respect is important. You should choose someone you respect, who you think has the same intelligence and patience as you. You and your partner will have different life experiences and strengths, but you must respect each other, everything can be resolved with the highest results.
In meetings to discuss business ideas, co-founders need to ask about each other’s strengths and weaknesses and express mutual concern and complement each other in a spirit of respect.
Appreciating and recognizing each other’s contributions is a helpful way to maintain respect.
Same mission and passion
The co-founders will jointly invest financially in the company. But make sure that the essential goals of the individual and the company are aligned. A shared interest that is united will lead to a consensus on the company’s mission.
Co-founders who share a common passion will ensure the company’s sustainable development, easily overcoming challenges in the future. If you don’t share the same passion, one of you will quickly leave the game when faced with a common challenge.
Open and flexible
Starting a business together, we will share surprises. So co-founders will also have to self-regulate their emotions to overcome unexpected obstacles and this will make life much easier.
Someone who is always drenched in sweat every time there is a problem may not be a great partner for you.
Each team member must be truly open and flexible to be ready to take on unexpected responsibilities. Then one day when the company grew, everyone looked back and wondered “how did I get through that situation”.