India is a growing economy with many businesses and employment opportunities emerging everyday. To start with a business, one has to take various crucial decisions, starting from the very microcosmic level. One such fundamental step is to find the right partner with a strong compatibility.
The founding team for any startup/business is very important, for it serves as the building blocks of that organization. Out of all the decisions, choosing a Co-Founder is the most important one. It’s like choosing a soul mate with whom one has to take the most important steps of life and spend the maximum time. A right partner will become a pivotal reason for the venture to evolve. A quote by Henry Ford, Founder, Ford Motor Company, sums it up best, “Coming together is a beginning; keeping together is progress; working together is success.”
Upon reaching out to a number of investors, entrepreneurs and startup Co-Founders regarding their views on the attributes they look for in a Co-Founder, we observed that the following 8 qualities popped up more frequently than the rest:
Complementary Skill Set
Complementary skill set means having skills to overcome each other’s shortcomings. A Co-Founder should have skills that a Founder might be lacking in, so that the balance is maintained and it benefits the venture having varied skill set.
Alignment of Core Values
Co-Founders should share similar core values and principles, be it personal or professional. Sharing a common value system makes it easier to trust your Co-Founder’s judgement as they would probably make the same decision as you in most situations.
Commitment and Dedication
Commitment and dedication towards a common goal is another highly rated quality that people look for. A common cause and goal will keep the partners work and thought process on the same page, thereby ensuring positive results.
Conviction and Passion
Having similar conviction and passion help idea work and grow. The partners should be passionate enough to keep going on inspite of hurdles, hardships and failures that they encounter during the initial stages of the venture. Passion constantly keeps one motivated to move ahead.
Vision and Execution
A long term as well as common vision for the company helps the partners survive the ups and downs they face on their professional journey. If the goals and aspirations do not align, conflict will arise, which will withhold the growth of the venture. As a team, the ability to imagine (being farsighted) and execute the plan should be well synchronised, so as to make their venture successful, scaling exponentially.
Ambition with a constant motivated will to achieve it, is another important quality of a good Co-Founder. It determines the aggression, effort, perseverance and commitment to achieve the goal.
Every man is unique, therefore, partners should respect each other’s differences in terms of experience and strength. They should work as one by sharing mutual respect and appreciation, thereby fulfilling one another’s weaknesses.
Co-founder should not only be a team player but also someone who can attract smart talent to work with him. Leading the team, constantly keeping them inspired and motivated for a common vision.
The above mentioned 8 qualities are the most demanded ones. However, there are more to add to the list such as being a sensitive team leader, competence, independent thinker, flexibility and credibility.
It is hard to find a person having a blend of the aforementioned qualities, but not impossible. Like it’s said, a stride towards perfection never ends, therefore, an effort towards inculcating the qualities, on an individual level should be made.