Business Partner Selection: According to author Ali Tamaseb's book Super Founders, four out of five unicorns are started with a partnership. Research also shows that having a good co-founder not only strengthens the startup but also brings financial benefits. However, there is always a dilemma whether a co-founder is necessary to start a startup or not.

If yes, then how to find them? This decision is not easy to take, because working with a co-founder brings emotional challenges like differences, conflicts on decisions, and communication. Therefore, some things should be kept in mind while selecting them.

Understand the need

Even small mistakes made in the initial stage can put the startup at risk. In such a situation, the choice of a co-founder should be done very thoughtfully. You should know which technology or field you have expertise in and which you lack experience in, which a co-founder can fulfill.

In today's time, along with technical or management skills, expertise in other fields also proves beneficial for the startup. These sectors can be health, financial services, or production and distribution,. The knowledge of professionals related to these not only gives direction to the strategy but also strengthens the credibility of the startup among investors and customers.

Experience should also be a criterion.

Entrepreneurs who start startups are often young. Many have no or very little experience. In such a situation, before considering the need for a co-founder, they should think whether they have the necessary experience and maturity to take the startup forward.

If not, then is there a need for someone who has both qualities. It is also very important for a co-founder to have patience and good communication skills. However, if you do not want to make someone a partner in your company, then you can also take necessary advice from advisors and consultants. If you want, you can appoint your subordinates on the basis of their experience. It is possible that in the future you would like to see them in the role of co-founder.

Before choosing a business partner
If you have decided that you need a business partner, then look for him/her leisurely. To do this, meet other startup co-founders. Ask them what qualities they value most in their partners, what obstacles they had to overcome at the beginning of their relationship, and what red flags you should pay attention to. Once you have found a co-founder you like, insist on regular communication with him/her. Also, spend time with him/her outside of work.

Disclaimer: This content has been sourced and edited from Amar Ujala. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.