Finding the right co-founder(s) is crucial for the success of a startup. A quality co-founder can bring valuable skills, connections, and experience to the team and can help balance out the strengths and weaknesses of the other founder(s).
However, choosing a co-founder is not always easy, and there are common mistakes to avoid.
One mistake is choosing one based on friendship or past experience alone, without fully evaluating their skills and compatibility with the startup’s vision.
It’s also important to make sure that co-founders have a similar level of commitment and passion for the startup and its vision.
To align the vision for the startup, they should have open and honest conversations about their goals, values, and expectations for the company.
It’s also important to have a clear understanding of each co-founder’s role and responsibilities within the startup.
When choosing one , it’s also important to consider the circumstances of the startup, such as the stage of development, sector, and location.
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For example, a co-founder with experience in a specific sector, e.g., financial services, will be more beneficial to a startup operating in that sector.
Also, a technical co-founder with experience building products for the financial services sector will be more beneficial for a startup operating in that sector than in the health sector.
At this upcoming exclusive event, the Founder Institute will bring together experienced entrepreneurs and industry experts who will talk on best practices for finding and formalizing a co-founder.
Olamide Afolabi (Co-founder, Touch and Pay) will be sharing his experiences as a co-founder and the important steps every founder must take.
Beverley Agbakoba (Partner, OAL) and Uchechi Ofoegbu (Associate, OAL) will be sharing legal tips to formalize a co-founder while protecting the startup.
The speakers will provide valuable insights and practical advice for finding the right co-founder(s) for your startup.
Additionally, attendees will have the opportunity to network with others looking for a co-founder through a fun group networking and one-to-one networking experience.
Join Founder Institute Lagos on Thursday, January 19, 2023, at 6 PM for what promises to be a fun and interactive online event.
Don’t miss this opportunity to get practical advice for finding the right co-founder(s) for your startup and network with others.
Register for this event here.
Founder Institute is the world’s most proven network for turning ideas into fundable startups, and startups into global businesses. Since 2009, its structured accelerator programmes have helped over 5,000 entrepreneurs raise over $1.5 billion in funding.
Based in Silicon Valley and with chapters across 90 countries, the accelerator’s mission is to empower communities of talented and motivated people to build impactful technology companies worldwide.
Founder Institute has operated in Lagos for three years and its 80+ portfolio companies have gone on to build highly scalable startups that have created values for over 60,000 users with transactions worth over
N337 million and 180+ jobs created.
Applications are still open for the Spring 2023 cohort of the Founder Institute Lagos. Visit here to learn more.