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My wisdom of the pros and cons of co-founding your first startup

2013-04-23, 01:54:44-2014-02-24, 09:48:29

Pros #

somewhere between you and your partner

  • Anarchy - my first startup project I consider as chaotic. My every move was debatable so it was good that every strategic decision had to be communicated with my co-founder. When we both agree on the same thing it made my day easier (mostly because I think we're doing the right thing).
  • Often I heard that the project we're doing cannot be successful - that's why "spiritual" support was a big win-win in my endeavour. "Share the load" is not always a bad idea :D
  • I often came up with ideas that were valuable only for me and that's why the debates served the purpose of "mini" reality checks.
  • We were able to be on more frontlines. This can lead to huge possibilities. 
  • Once I heard that "your skillset is your arsenal". That's why if a brand has large arsenal (diversity of skills) its chances to win increase. 
  • Brainstorming alone is boring ... and most people are not emotionally inclined to brainstorm with me. So generating more ideas with my co-founder is not an oppurtunity to miss.

Next time if I co-found with someone I will try to be aware more of these pros.

Cons #

all around us 

  • Focusing is a big problem not only for the co-founder. It's an issue spreading world wide. Point taken - I should pay attention for my co-founder distractions because it can lead to his leaving of the startup.
  • I found that most of the time trust is involved and building something on low trust can shackle the startup growth.
  • If it's a co-founder it's there for something - at least the work balance should be equal to the equity of the startup. This is tightly coupled with the focusing point.
  • Sometimes co-founding is bundled with a lot of compromises and this can lead to difficult decision making. When we get to the point of compromise deadlock (should I make a compromise or should he make one) the best way to treat is to ask your "customers".

I think that dealing with partnerships is a lot more risk-free and easier than having a co-founding relationship. It's like having a love relationship with someone - it's better to remain "just friends" without benefits :D

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