Startups persuaded everyone to think beyond the ordinary. Most companies that helm the market today have a humble beginning. Ever planned to set up a startup that ensures you success?
If you did, the most important thing you must consider is finding a vibrant co-founder or partner, who’s willing to take up challenges and travel with your thoughts.
A co-founder, being a crucial position in an organization or company, should be a companion who could guide your team to achieve the goals. But how can you find a perfect co-founder?
Don’t worry, we share the five magical traits that make a good co-founder with you. If you ever come across a person with these qualities, grab them instantly. Don’t give it a second thought!
Out of the box thinker
Well, it sounds a bit crazy. However, with craziness comes novelty. Search for a person who loves to deviate from the routine! A co-founder should be someone who can be relied upon even in most desperate times. The patterns and trends in today’s business are dynamic and you will be left behind if you don’t come up with some innovative ideas.
The co-founder you’re looking for should be able to embrace the change in the market and devise strategies accordingly. A good co-founder will discuss new ideas with you. A person with highly innovative thoughts could a find a way to turn your plan into fruition.
Every challenge you encounter must be tackled with creative thinking. That is, you offer a creative solution to the clients without compromising your entrepreneurial interests. It is always good to have a vibrant thinker as co-founder as you’re likely to run out of ideas at certain point of time.
Above all, the identity of your business completely relies on its uniqueness. So, some offbeat thoughts are needed to delve into competition and hook big fishes!
2. Shared Vision
Imagine you’re pondering over the kind of business you’re going to set up in the dead of night. A slap falls on your face from nowhere. This happens when you end up choosing a wrong partner for your business.
Ideally, a business flourishes if the partners have a shared vision to bring the company forward. A crucial factor that decides the fate of a company is its vision. It acts as the driving force of your company.
Setting up a business involves a lot of expenses and challenges. Partners often engage in ridges when the profit dips. Because the vision of the partners might be different. For instance, if you start a firm involving a lot of investors with different interests, you would have to burn candles at both ends to convince them during a crisis.
On the other hand, if you and your partner have same interests with the company, you could brush aside the hurdles easily. Every new challenge and problems would be a piece of cake when you always have the co-founder as your scaffolder.
Besides, a partner should not always think in terms of monetary growth. Of course, it’s good see the numbers growing, but don’t ever get overwhelmed by them.
What’s more important for a co-founder is to maintain the vision of the organization. Cultivating a value-based practice of business catalyzes your journey towards success.
The relationship between the founders must be strong. Only then does it become possible to attract potential investors and clients. Like-minded partners are not always necessary for a start-up.
But you need people by your side who acknowledge your opinion and are willing to share their insights as well. Don’t ever consider people who claim they can single-handedly manage everything.
It might create problems within the organization setup of your company. An ideal co-founder is self-motivated, accepts the differences and ensures transparency in every aspect of business.
3. Excellent communicator
Business is built on relationships, it’s driven by mutual understanding. Enthusiastic business persons do not only care about sales.
They also focus on building rapport with potential clients. Only a good communicator can deliver ideas clearly. What matters here is the ability to hook clients to your firm.
A miscommunicated message could harm the reputation of your firm. Every company works to meet certain objectives. Only a person who possesses excellent communication skills would be able to project a positive image before the clients.
When you hunt for co-founders, go grab someone who knows the art of communication well. A good communicator listens to others and evolve new ideas from conversations.
A co-founder is required to handle communication at various levels.
It could be anything from an employee’s grievance to special client briefings. You can tackle everything if you’re able to communicate effectively. Clients may sometimes have problems with the services you provide.
They can only be figured out if you manage a good line of communication between your company and its clients. Moreover, in the age of new media, a co-founder would also have to adore the position of Public Relations Officer to endorse business interests of the organization.
4. Keen Optimism
A teenager in America used to stay awake during nights to build his own dreams. When his roommates ridiculed him, and went off to bed, he sweated it out round the clock in his tiny hostel room at the prestigious Harvard university.
He never called it a day when he faced adversities. He never blamed anyone at the wrong choices he had made. He knew the final smile will be his. He’s now a billionaire who helms Facebook, the world’s largest social networking community, and his revenue is skyrocketing every day.
The story of Facebook’s co-founder, Mark Zuckerberg, tells us how important it is to keep your optimism intact. Setbacks are essential for a company to grow, especially if you’re eyeing something big. The growth of your business completely depends upon its ability to manage crises.
Business is not everyone’s cup of tea. That’s why we don’t see any Tom, Dick and Harry in the list of top entrepreneurs. Being optimistic allows your co-founder to stick to the vision of your company even when the sales dip or market shows instability.
An optimistic partner would be helpful in identifying the weaker areas of your business and plan new strategies to tackle the hurdles easily. iPhone would have never been a reality if Steve Jobs had remained gloomy about his childhood misfortunes. When Mr. Jobs devised new plans to revive Apple, the company was on the verge of bankruptcy. Rest is history.
A good co-founder uses the skills to turn things in favour of the company’s interest without compromising its image. Every startup has a struggling phase. It’s inevitable. New ventures take time to gain pace amidst stiff competition. It’s indeed a learning stage.
Your time will come if you’re willing to maintain an optimistic approach to setbacks. Having an optimistic approach towards clients doesn’t allow you to burn the bridges.
So, hang in there and keep working for better results. You know Rome wasn’t built in a day, but you could really build it sooner if you’re optimistic!
Finally comes the experience of your business partner. It’s a crucial element. Experience constitutes a person’s learnt ability to tackle situations. A sensibility towards business and an understanding of the trends come from one’s experience.
For instance, having an experienced co-founder by your side eases client relations. Start-up business needs to continuously seek expert opinion on various decisions.
Having a partner with previous experience in industry would be crucial when you plan marketing strategy, handle human resource recruitment and manage legal formalities.
Moreover, clients respect the experienced teams.
A co-founder with volumes of experience in industry could transform your business into success. Most importantly, he or she could predict the result of the work and sort out what went wrong when the business faces a roadblock.
Presently, startups are being set up everywhere, every minute. The competition is getting tighter with every passing day. Naturally, there would be pitfalls and ethical concerns.
But, an experienced business partner identifies the pitfalls by thoroughly using his expertise on every area of business. They could instantly plan different strategies to remain intact in business.
They will be well-informed about the trends in business. In addition, if the situation arises, they could also multitask!
Product designing is a stage in which most companies fail. It’s indeed a Herculean task that requires lots of brainstorming. The service of experienced co-founders comes handy during these situations. They could provide insights to design the product and market it, identifying core areas.
More importantly, they won’t cut the corners to do the work easily. So, you can easily seek guidance from them before carrying out strategy to catalyze the business.
We hope now you know what it takes to be a co-founder. Well begun is half done. Once you find an eager beaver as your co-founder to start your business with, everything will turn out well. We hope you will find a suitable person soon. Goodluck!
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