Kathryn Finney
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Find a Cofounder, or Go It Alone (How to Decide)

A blunt framework for deciding whether you actually need a cofounder, and how to find the right one if you do.

By Kathryn Finney7 min read
Find a Cofounder, or Go It Alone (How to Decide)

TL;DR

Choosing a cofounder is like getting married after one date. This guide helps you decide if you actually need a partner or if you should build the damn thing solo.

Let's be real about the startup world for a second. There is this pervasive myth, fueled by Silicon Valley bros and people who have never actually built anything from scratch, that you absolutely must have a cofounder to be successful. They tell you that investors won't talk to you if you are solo. They tell you that you need a technical person to balance out your business side or vice versa. They treat starting a company like a mandatory buddy system.

I am here to tell you that is mostly garbage.

I have started companies solo. I have started them with partners. I have watched thousands of black and brown founders wrestle with this decision through my work with digitalundivided and Genius Guild. What I have learned is that a bad cofounder is infinitely worse than no cofounder. A bad partnership doesnt just slow you down. It can burn your house to the ground and salt the earth so nothing grows there again.

Deciding whether to find a cofounder or go it alone is the first major leadership test you will face. If you get this wrong, nothing else in your pitch deck matters.

The Myth of the Perfect Pair

Investors love the idea of cofounders because it reduces their perceived risk. They think if one of you gets hit by a bus or tires of the grind, the other one is there to keep the lights on. They also like to see that you were able to convince at least one other person to join your crazy mission for little to no pay. It proves you can sell.

But here is what they dont tell you. Cofounder conflict is one of the top reasons startups fail. It is not always the product or the market. It is two people who realize at 3 AM that they have fundamentally different values or work ethics. If you are an underestimated founder, you already have the deck stacked against you. You do not have the luxury of spending six months in mediation because your cofounder decided they want to move to Bali and find themselves while you are trying to close a seed round.

If you want the full breakdown of how to vet people and build your support system from the ground up, I wrote heavily about this in Build the Damn Thing. You have to understand your own gaps before you can fill them with another human being.

Why You Might Actually Want to Go It Alone

There is a tremendous amount of power in being a solo founder, especially in the early stages. You move faster. Decisions that take a committee a week take you five minutes. You have 100 percent of the equity, which gives you more room to negotiate later when you actually need to hire top tier talent.

Most of the tools you need to get an idea off the ground today are accessible to a single person with a laptop and a decent work ethic. You do keep all the pressure on your shoulders, but you also keep all the clarity of vision. If you are someone who has a very specific way of doing things, or if you are building something deeply personal, a cofounder might just be a distraction.

If you are worried that you dont have the technical skills to build a prototype by yourself, stop. The no code movement has changed the game. You no longer need to give away 50 percent of your company to a CTO just to see if your idea works. You can test your assumptions and get your first customers on your own. For those of you who need a structured way to get through this initial phase without a partner, my BUILD Sprint provides the exact framework you need to move from an idea to a business in a matter of weeks. It is designed for the person who is ready to stop talking and start building.

The Three C Criterion for Finding a Partner

If you decide that you genuinely do need a cofounder, do not just pick your best friend or your cousin. This is a business arrangement. It is a marriage without the sex, and it lasts longer than many actual marriages. I use a framework called the Three Cs to evaluate potential partners: Complementary Skills, Character, and Capital.

Complementary Skills is the obvious one. If you are a sales animal, you need a builder. If you are a product visionary, you need an operations expert. Do not hire your clone. It feels good to talk to someone who thinks just like you, but it is useless for the business.

Character is the most important and the hardest to vet. How do they act when things go wrong? When the bank account is low and a major client pulls out, do they go into a shell, or do they roll up their sleeves? You need someone with a similar level of hustle. If you are working twenty hours a day and they are checking out at five, you will eventually hate them.

Capital refers to what they bring to the table beyond just their time. This could be literal money, but more often it is social capital. Do they have a network you can not access? Do they have a reputation that opens doors?

I often do advisory work with founders who are at this crossroads. We look at the gaps in their current structure and determine if those gaps require a permanent partner or just a really good first hire. There is a huge difference between a cofounder and employee number one.

The Trial Period is Not Negotiable

Never, ever sign a legal agreement with a cofounder on day one. I dont care how much you like them. You need a dating period. Work on a specific project together for three months. See how they handle a deadline. See how they handle you telling them their idea is bad.

During this trial, you should be looking for any red flags. Are they flaky with meetings? Do they talk over you in front of outsiders? Do they have a different vision for what an exit looks like? If you want to build a generational business and they want to flip it in two years to Google, you are not compatible.

If you get through three months and you still want to be in the same room as them, then you talk about equity. And when you talk about equity, you make sure there is a vesting schedule. No one gets their shares upfront. You earn them over four years with a one year cliff. This protects the business if they decide to quit after six months. If they refuse to sign a vesting agreement, walk away. That is a person who doesnt understand how business works.

The Reality of Local and Technical Support

Many founders think they need a cofounder because they are scared of the technical side. They think they need a CTO to build an app. I have seen founders give away half their company to a developer who ends up being mediocre at best.

If your primary reason for seeking a partner is a lack of a specific skill, ask yourself if you can buy that skill instead of giving away equity. Can you hire a contractor? Can you find a mentor? Can you learn enough to manage an agency? Equity is the most expensive currency you have. Do not spend it because you are afraid of a learning curve.

I have seen solo founders build incredible, profitable companies because they stayed lean and stayed focused. I have also seen great cofounding teams who supported each other through the absolute hell of the early days. There is no one right answer, but there is a right answer for you.

Making the Call

To decide, take a hard look at your calendar and your bank account. If you go it alone, do you have the stamina to do the work of three people for the next eighteen months? If the answer is no, and you can not afford to hire help, then you need a cofounder.

If the answer is yes, then go it alone for as long as possible. Build your traction. Get your first hundred customers. Prove the model. Every bit of progress you make on your own makes you more attractive to a high quality partner later. It also gives you more leverage when you finally do sit down to negotiate that equity split.

You are building something from nothing. It is a radical act. Do not let the traditional startup narrative pressure you into a partnership that isnt right for you. Whether you are solo or part of a duo, the only thing that matters is that you keep moving forward and that you actually build the thing you said you were going to build.