Kyle Ellicott is CEO of Codeita (http://heavy-cloud.com/). In this video he speaks on how to create strong co-founder chemistry.
- Search for a complimentary personality
- Avoid redundant skill sets
- Steer clear of having 2 alphas
- Don’t hesitate to change if it isn’t working
- A shared passion is essential
So being an entrepreneur, I’ve started multiple ventures whether they were the tiny little shop I started in middle school building and helping out IT problems or to the web applications that I have now. One thing that has been very, very important when starting those companies was the co-founder, was the chemistry that we shared together in what we did. There were a few things that I’ve learned that really helped as I move forward in my career and development as an entrepreneur that really helped cater to better companies and better products and better co-founders.
One, you know, having complimentary personalities. You don’t want someone who you’re not going to get along with. You’re going to be spending so much time together. You want to make sure that you guys are going to get together. You want to make sure that you’re going to work well long hours. You want to make sure that you guys will fit together and not have issues.
Two, beware of the redundant skill set. When you have multiple developers together and no marketer or when you have multiple designers together and no developer, that’s a means for disaster. You need to have a variety of skill sets that you can then base and bank on to actually build this product and company.
Three, two alphas don’t work. When there are two people trying to lead a company in the same area and especially in a startup, you’re just going to have bang heads the entire time. And unfortunately, it’s going to lead up to failure in some way. Either one of you is going to leave and the business may take off, it may not. There’s going to be some kind of failure involved.
Fourth, business is business. If something is not working, it needs to change. If the chemistry is not going to happen, you need to separate that. It’s a very difficult thing going into business with friends because of that separation. You need to make sure that whoever you’re involved with that it’s business that things are taken care of, things are written, there are contracts involved that protect both of you in any case that something were to happen.
Lastly and five, make sure you both have a shared passion for what you’re working on. You don’t want a co-founder that doesn’t believe in the product or the company that you’re building. You want them to have that same passion or even more passion and excitement about what you’re doing.
In summary, just find a co-founder that has good chemistry with yourself and make sure that you guys can work together and build the best business that can without the headaches.