One is the loneliest number in startups. Top 5 reasons to have a co-founder.
Think for a moment on the number of really successful startups that have been started by just one person and it may take awhile. Even most of the thoughts that are swimming around in your head right now are likely to not fit within this category. Google ? 2. Apple ? 3. Facebook ? 4. (debatable). Oracle ? 3. etc.. etc.. Below, you will find the top 5 reasons to have co-founders instead of going at it alone.
Having someone to bounce ideas off of and brainstorm with is key. Sure you have great ideas and a fantastic understanding of how you want your product to launch, but you will overlook things. Some of your ideas will be dumb. The faster you face facts on this one the better, and a co-founder may be just what you need to set you straight.
2. Distributed work-load.
Don’t let the name fool you; I’m not saying there will be less work. There will always be an unlimited amount of work. What I am saying is that the work will be distributed to feel like there is less work. Believe me when I tell you that when you’re pushing really hard at something and getting nowhere, it is an awesome feeling to see that someone else had a win for the team that day.
Starting a company is an emotional roller-coaster that requires a lot of mental fortitude. You will be more likely to throw in the towel by yourself. Having someone around that is in the same boat as you will keep your spirits up and make you push forward on the dark days. Also, if worst comes to worst, somehow saying “we failed” is better than “I failed”.
Work-debt was a term I came up with years ago that basically means the psychology behind being more motivated and working harder simply because someone has expectations of you. If you start a company with someone and you are busting your hump to get it done, you better believe that you expect the same thing out of your partner.
Want to test your nerves ? Sit across from a table of venture capitalists by yourself. You will always feel much better if you have a friendly face in the room. Speaking of confidence, the investors and everyone else you deal with will prefer you to be speaking about your company as “we” over “I”. Why should they trust you if you’re the only one that trusts your company and the promises you’re making.