What is a Co-Founder?

634

Hiring the right team is essential for any business to succeed. So when you are launching a startup not having the right people around you can be the difference between failure and success. Is a co-founder the right person for your business? Here’s what a co-founder is:

A Co-Founder is an Extension of the Founder.

Whilst a founder is responsible for coming up with the vision for a business, a co-founder will help the bring it to life.  

The founder and co-founder will work closely together to shape and grow their business, sharing the burden, stress and making key business decisions together along the way..

A Shared Vision

A co-founder gets involved with the business at really early stages, sharing and possibly even contributing to the founders vision.  

The co-founder will commonly own shares in the business, being paid a salary and receiving dividends depending on the success of the business.

Every business arrangement between a founder and co-founders will differ but the co-founder will bring skills that complement the founders talents or bring in a skill set the founder doesn’t possess (like finance, sales or technical skills).

Two Heads are Better Than One – But Only with the Right Partner

A co-founder will bring a different point of view and will split responsibilities since they will work better as a team rather than individually.  Growing a business can be stressful so it is important that the founder and co-founders have trust and respect for one another.  Co-founder disputes are common and will ultimately affect the business.

I built this site to help self employed business owners grow profitable businesses by making the intimidating aspects of business and tax easy to understand with ‘How to’ Articles, Guides and Courses. Take a look around and you'll find all essential information you need to know to go self employed, launch a new venture and run a profitable business.