Very recently a meaningful post was noticed on social media for startups. It was from the account of entrepreneur and Indian Institute of Technology (IIT) Bombay alum. It offered valuable information related to the selection of the right co-founder for a startup.
If there are differences in definitions of success, it can significantly impact the co-founder relationship. What might be a significant achievement for one could be a minor thing to another. Things are based on their background and expectations. The disparity may sometimes even lead to conflicts during critical decision-making processes.
A startup may have a target is Rs. 1 crore in annual revenue, but it gets an offer just Rs. 25 lakhs per year. This might be viewed as an opportunity and a crucial step towards the goal. However, a co-founder with higher revenue aspirations might not share the same enthusiasm for this client and may cause friction.
The post emphasized that disagreements among co-founders can be detrimental. Sometimes it may even lead to the failure of the venture. Co-founder conflicts are one of the easiest ways to jeopardize the success of a startup.
Many commented on the post sharing their own experiences. One recounted witnessing a falling out between co-founders due to mismatched life expectations. Another highlighted difference in risk tolerance as well as lifestyle can also affect startup partnerships.
Choosing the right co-founder is essential for the success and longevity of a startup. It is important to have open discussions about goals, expectations and potential challenges.
In short, it can be said that the shared post basically highlighted the significance of selecting a co-founder with whom startup can navigate challenges as well as decisions effectively.
