In truth I have not made any exit or built anything for which I have raised $$$ from VC. From my exposure and past experiences I have learnt a ton. Yes, I was involved in few start-ups in which most failed and a few I chose to exit due to personal constraints.Yet, start-ups never bore me. I keep encountering and hearing about start-ups, product, team and ideas almost daily. So in view of my experiences with start-ups, I definitely felt like sharing a piece of my learning right here in this blog post.
I would say this is just my advice and opinions on those building teams or looking for co-founders.
Motivation: If your co – founder is not motivated as much as you are then the chances of product failing is high. This could result in you ending up in some sort of depression that could turn the relationship sour.
Expectation: You need to set expectations at the very beginning to avoid future conflicts related to dedication and time allotment towards projects.
Trust: One of the pullers which can make or break everything is the matter of trust. If you don’t have trust on your co-founders ability you are setting yourself up for doom.
Complimenting: Its not always true but mostly advisable to have co-founders with complementing attitudes. If I have to build a start-up I will go find some IT fire power that can compliment my work and is willing to go that extra mile with me.
Empathy: James Altucher, my idol and inspiration whom I consider as my life mentor always talks about empathy. You have to put yourself in his/her shoes at times. This will make you realize what the other person is going through. At times you might get angry or even frustrated and want to out but if you are empathetic and trust your other half(co-founder) you will succeed.
The following are pointers to consider in the establishment of business with co-founders. There may be more to this, but my experience has taught me to find co-founders that motivate, exceed expectations, are trustworthy and have empathy towards others.