The Key to Finding a Good Co-Founder
I seem to be getting this question a lot from companies that are just forming or looking to expand. Where can I find a Cofounder? To be honest, there’s no real science to it.
Have you ever lost your keys? It’s next to impossible to find where they are in the exact moment. That sucks.
The common fix to this challenge is you have a specific place you put your keys…whether it’s the foyer, or a hook, or a drawer. You know exactly where to go when you’re looking for your keys.
It’s the same way with finding a cofounder. By the time you’re looking for one, it’s too late. One of the key functions of founders/ executives in the making is to always know good people. It’s important to have a solid network of colleagues and acquaintances. Apply the same rigor you would to attract customers and investors to hiring/ building a founding team. Here are some things I’d recommend just shooting off the hip.
- Network. You need to meet smart and intelligent people on a weekly basis that challenge common perceptions, from different fields and walks of life. It almost needs to be second nature to be attracted to these types of people. I remember one time I went to an interview for a position and I didn’t get it, but I had the opportunity to speak with the company’s founder and his insights were career-changing. The chance to speak with truly intelligent and driven people is underrated. Savor those moments because it will come in handy like when you need a co-founder. You can reach out to those same people to help begin your search.
- Know your strengths, blindsides, and what skills and experience will enhance your company. You’ll often hear solo founders say, I need someone who can sell, or market, or a tech guy or gal. While that’s a good start, think about where that function should sit in your organizational chart and how it advances your goals. If the skill that’s missing is essential to your unique value proposition, I’d say the person should sit at a founder level. If not, it’s a good move to bring them on in a non-founder role.
- Talk to people who are in the same position you’re looking to fill. If you’re looking for a CTO type founder, talk to CTOs in established and up and coming companies. Conversations with people who are in the trenches help you identify common traits that make a good CTO. They are themes. Sometimes, you can see these same themes in people that may not traditionally be on the path to CTO/cofounder status. The same rule can apply to other positions in a company.
- Have leverage. If you don’t come from a position of strength and opportunity, it will be challenging to convince someone to leave the comfort of their squishy job or commitment to join your early-stage adventure. As a founder, you have to be convincing and show the unique product, market opportunity, and upside in a way that is exciting to a potential candidate.
- Date. If you’ve filled your funnel of potential co-founders, start dating! I mean… try a one-off project together that is super challenging. Get a chance to see how you collaborate in stressful situations. It also gives you more data to evaluate candidates.
Adding a co-founder in the early stage of a company is a major milestone for any team. I believe it’s the beginning of a string of major decisions that set the foundation for what a company will grow to be. Be sure you’ve done your due diligence and you feel comfortable about growing and building with the person you select.