Two heads are better than one – especially in start-ups!

You may like the idea of being a sole innovator or the only founder of your start-up. Sharing your idea and teaming up with someone can undoubtedly frighten anyone. But, we must not overlook the fact that nearly all the successful companies were once started with the contributions of at least two people. Besides, what a support of cofounder can provide you,can not by attained by working alone.

Whether it’s about the burden of work, money matters or market knowledge,an understanding, trustworthy and skilled co founder can help you in all the matters throughout the journey. Thus, you like or not, hiring a cofounder for your business can produce numerous benefits.

Scroll down to know the top benefits of launching your start-up with a cofounder:

Benefits of starting-up with a cofounder

1. Provides support and right advices

It’s not only our talent, experience or amazing idea that always work out for a successful venture. Sometimes, we desperately need someone who can understand us, support us and give us the right advice. Having cofounder in situations of failures and losses can be no less than a blessing. Just like you, they have also put their efforts, time and money in the business. They can understand the things better, share your problems and get you back on the track. And, in the times of successes, they make celebrations even more fun.

2. Helps you covering areas where you lack

Say, you are good at building relationships and raising funds, but technical matters are not your cup of tea. However, if your partner is good at it, what could be better than this? Co founders can cover your weaknesses and help you tackle all the areas where you lack. With his/her own expertise and experiences, they can complement your skill set and give your business a strong, long-term success.

3. Helps in fundraising and mitigating risks

Investors and venture capitalists are interested in investing their money only when they find a solid business idea and a strong team. Now, having cofounder/s can seriously help you there. Playing as a single player would raise risks while working with trusted partner or with a team attract investors to give their shares as well. They really want to know whether their money is staked in the right place.

4. Shares work responsibilities with you

In the business world, things happen at a dramatic pace and you can’t be in two places at once. You have important business meeting with a potential client but at the same time something urgent pops up in the office that needs to be addressed immediately, what would you do? In such circumstances, a cofounder can hold the fort and fill-in as your substitute by taking one of the matters in his/her hand. Besides, you both can distribute the work responsibilities beforehand. The workload and complicated decision making process will be lightened once divided between two people.

Now that you know how many benefits a cofounder can provide you, you want to get one. To tell you the truth, finding a right cofounder is no less than a challenge. You need someone who shares similar interests and values with you, who you can trust, who is ready to bear risks with you and make the milestones more impactful.

So, here we bring you some useful tips that can help you find a perfect-fit cofounder for your start-up:

How to find a cofounder ?

  1. Write what you expect from your ideal partner

Although you have an idea in your mind of what kind of business partner you need. But, it is still necessary to write down a sort of job description in which you clearly explain your needs and expectations you have from your ideal partner. Mention all the skills, experience and qualifications you require for your co founder. Look for the input from your friends and seasoned investors.

  1. Join communities, groups and forums to find cofounder

One of the best ways to get your ideal cofounder is joining the business communities, mastermind groups and networking forums. They are extremely fruitful as they open many doors of opportunities for networking and connecting with business professionals, owners, and aspiring entrepreneurs.

One such exclusive mastermind group is Youngtreprenuers Boardroom . Specially designed for all the entrepreneurs who want turn their dream into reality, this platform allows like minded people to interact with each other and discuss their business plans. It also offers a wonderful learning and networking experience where ideas are eagerly shared and opinions are embraced in a refined, comfortable atmosphere. By participating in its events like Youngtreprenuers Meet Up and Business 101 with Michael Kosmas, you can gain a profound insight of current business trends, start-up techniques and business strategies. It wouldn’t come as a surprise if you end up finding a perfect confounder for your business after the session.

  1. Participate in entrepreneurial activities

There are many entrepreneurial activities like seminars and workshops going around in societies. In fact, universities events can come as a helpful option. You can come across many MBA students having good business plans in universities’ seminars. University alumni and professors also know many greatentrepreneursand can help you finding the right match for you.

  1. Use social media networks

Social media networks like Facebook, LinkedIn, and Twitter are really helpful for building networks. Through these platforms, you can acquaint, meet and interact with many people who are on the same page. You would also be able to find a cofounder who meets your criteria.

To sum up, finding a right cofounder plays a critical role in the success of your start-up. But, once you have found one, there’s nothing stopping you to gain grounds in the business world. And, if investments and funding matters stand in your way of accomplishing your dream, then you can take loan from a trusted organization. In this case, Start Up Loans can support you significantly, not only with loans but also with precious start-up advices, informations and suggestions.

Just remember, it takes two flints to make a fire!

Good luck!