We’ve been talking a lot about founders and co-founders here on ReadWriteStart over the last week. We discussed the advantages of having a non-technical co-founder on your team, and noted ways these types of partners can best fit in with the code monkeys. But today, Geoff Lewis, founder of Topguest, has written a piece on Business Insider about how entrepreneurs may not need a co-founder to get their startup off the ground and moving in the right direction.
Many have touted the two co-founder system as the best way to handle a startup, but according to Lewis, times are changing and co-founders may be over-valued. Lewis says that just as the simplification of online tools has made starting a company much more affordable, so have the skills required to handle both the building and selling of a company.
“In the 90s, you needed $5 Million, a team of engineers, and a year just to get a consumer Internet site launched. Today, most software is disposable, the cloud is omnipresent, and meaningful products can be built and shipped in a matter of weeks,” writes Lewis. “Today, it is more possible than ever before for one person to effectively lead both building and selling during a consumer Internet startup’s early growth phase.”
“Not having a co-founder is no longer a valid excuse for not starting.”
-Geoff Lewis
Lewis also argues that it is highly unlikely that entrepreneurs will find their emotional match when seeking a co-founder, but I think that is exactly why having a co-founder is a good position. If you want your co-founder to be a “yes man” clone of yourself, then yes, you might as well go it alone, but the point of having a co-founder is to have a diversity of opinions and perspectives. Sure, both founders should be passionate about their product, but they don’t have to be a perfect match to make it work.
“The odds of finding a co-founder who’s a true partner – in every sense of the word – are about the same as your odds of finding that perfect spouse,” adds Lewis. “Did I mention 50% of marriages end in divorce?”
Actually, I would think the same ideas apply to relationships. I wouldn’t want to marry someone who was exactly like me; I’d rather it be someone whose qualities are complementary, yet different from mine. Otherwise that marriage would be boring. Personally, just as the wisdom of the crowd can unearth the best answer, I believe multiple founders will have a better chance at making the best decisions for their company.
I do agree, however, with Lewis’ notion that, “not having a co-founder is no longer a valid excuse for not starting.” If you are an entrepreneur with an idea for a company but no one to found it with, go start it yourself. Getting a business set up with the basics is certainly something one person can handle, but eventually, a partner at the top is going to benefit the company more than remaining a monarchy.
Photo by Flickr user neilbetter.
