Podcast: How to solve your startup’s Catch-22 conundrum – Startup Basics Podcast

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How to find a great co-founder for your startup

Although it’s possible to build a successful tech company as a lone founder, there are many advantages to joining up with someone as committed as you that will be on the journey from the start. Choosing the right co-founder is vital for your startup’s success considering that 13% of founders surveyed by CB Insights stated that the primary reason why their startup failed was due to “disharmony among the team” and that another 23% blamed failure on “not the right team.” However, many founders either don’t know where to start when it comes to finding a co-founder or choose a compatriot that is the wrong fit. In this article, I will cover what to look for in a co-founder and how to find her.

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Launching a startup? Here’s what you can expect

Beating the Stage Boss

Having worked with a number of founders on the earliest stages of their startups, I have seen quite a few promising folks drop out prematurely. It’s not that they are not tough enough or that they lack passion, but it seems that many first-time founders are not prepared for how grueling and long the startup journey can be. It’s striking how often I see pitch decks that project a startup to reach 100 million users or $5 million in revenue in a year or two.

Although striking, it’s not surprising why founders have such unlikely scenarios in mind given how much the media loves to portray nearly overnight successes like Snapchat and Oculus, which raced to a $2 billion exit in just 280 days since its first financing round. The likelihood that a startup will become a unicorn (valued at $1 billion+) is about one in a hundred. It’s even rarer that a startup can become a billion-dollar company in less than three years. In fact, the odds are roughly one in ten thousand. Is it any wonder, then, that many founders quit when they are expecting overnight success but arrive at a decade-long Navy Seals Hell Week?

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