How to Become an Entrepreneur Make something better (or cheaper) than what's out there

9. Find a co-founder.
Conventional wisdom says you should look for a co-founder when starting a new business. There are three main advantages to having a co-founder.
1. It's easier to get funding. Whether or not multiple founders actually contribute to a company's success, many venture capitalist investors believe it does. They're reluctant to back solo founders.
2. You have emotional support. Running a company is a stressful, exciting, and unique experience. If you're riding the emotional roller coaster by yourself, you won't have anyone to celebrate with during the ups -- or survive the downs. A co-founder understands exactly what you're going through and makes you feel less alone.
3. They can provide different skills, knowledge, and connections. Maybe you're great at selling, while your co-founder is more technical. You've got lots of connections, and they've actually started a business before. Picking a co-founder with a complimentary resume is an excellent way to boost your odds of success.
But there are also drawbacks to having a co-founder.
1. There can be conflict. You and your partner will inevitably disagree. A little healthy disagreement is productive, but if you don't find a solution relatively quickly, you'll waste valuable time and energy. Plus, you might hurt your team's morale.
2. You'll have to split the equity. If you're the sole owner of your company, you start with 100% equity. As time goes on and you hire more people and/or receive funding, you'll distribute that equity -- but you'll likely be giving 0.005% to 35% to a single entity, depending on who they are. If you have a co-founder, you're automatically giving up 40-60% of your company in a single swoop.
3. Finding one can be difficult. It can be really hard to find someone with the same business ethics, work habits, and complementary personality. In addition, they need to believe in your vision, contribute the right skills, and have a desire to be your co-founder in the first place. That's a tall order.
It's worth noting that there are plenty of examples of successful startups with single founders and unsuccessful ones that failed due to cofounder disputes. Make a decision based on your situation, not traditional advice.
Where to Find a Co-Founder
If you decide you want a co-founder, the next step is finding one. Look within your own network first. Choosing someone you already know, or whom your connections can vouch for, is much less risky than a stranger.
This concept works in reverse as well: You've also got a better shot of convincing them to join you if they're a first or second-degree connection.
But if you've tapped your network without success, there are a few "co-founder matching" services you can turn to.

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