Transcribed article based on the video above.
I have successfully co-founded several companies and there are three things I look for in my co-founder before starting on my venture with them.
1. What is their work ethic? In the early days you find yourself dragging them to the coffee shop to work on your business or getting them to work on a powerpoint when you aren’t in the room, they probably aren’t the right co-founder for you. If they don’t have the right work ethic in the beginning it will only get worse.
2. Do they have a complimentary skill set? Are you the engineer and they are the sales guy? Are you the manager and they are the workhorse? It is important to have the right combination. If there is too much overlap you are going to have problems in the future.
3. Do you have a shared vision? This is probably more important than the first two. If you don’t know where you’re going to be in six months or a year, or you don’t understand the problem you are trying to solve, or you don’t agree on the solution, you are going to have conflict all along the way and rest doesn’t matter.
4. Having a co-founder is critical to starting a business but I recommend looking at these three things when evaluating your co-founder.
Amir Mir is the CEO of LunchMoney. You can read more of his posts here on Docstoc or follow him on Twitter.