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MenuOut of those that have failed, 23% of start-ups said that not having the right team contributed to their start-up failure. Having two founders on the team, rather than one, significantly increases a start-up’s odds of success. According to Start-up Genome, start-ups will raise start-up capital 30% more investment, grow their customers three times as fast, and will be less likely to scale too quickly.
Ideally, start-ups should mix skill sets. For instance, companies should not have two people that are both tech-focused and do not understand the business or marketing elements of running a start-up. Make sure that if one co-founder is tech-focused, the other has the business acumen to complement the other. Just as a start-up should mix skill sets, they should do the same for personality traits too. For example, having two people who are afraid of public speaking will not benefit the start-up since they will have to pitch to investors, speak to clients, present in front of accelerators, and more. If one co-founder is shy, it is best to have another person who is more outgoing and has confidence in speaking in front of people. In addition to balancing personality traits, it is essential that founders find a partner they can trust. Running a business presents many opportunities for people to do dishonest things. Co-founders can act in a way that causes others to question the ethics of a company or permanently damages the company. This often leads to a person not voicing their concerns or avoiding disagreements, which are issues that can be detrimental to the success of a start-up.
Finding the ideal co-founder can be a long process. But these platforms might help.
1. FounderDating: FounderDating is a platform where entrepreneurs can search for a co-founder, business partner, or mentor.
2. Founder2Be: Like a dating site, Founder2be is a platform that enables start-ups to connect with everyone in tech, from co-founders and designers to developers and marketers.
3. YouNoodle: For start-ups that want to take a different approach, Younoodle is a unique platform that uses competitions and contests to connect co-founders, advisors, and entrepreneurs.
Using online resources is not the only way start-ups can find a co-founder. They can also search groups on social media; LinkedIn offers many groups founders can join to find a co-founder. It is also a task that founders should not take lightly. Founders will often want to rush to the market because they have a great idea that no one has done yet.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
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