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How to Choose Co-Founders & Why it is Important to have them in your Business

Very often businesses go through this dilemma of finding the right co-founder, and in many cases, whether there is a need for a co-founder is also a question. Here's a quick brief summary of why is important to have co-founders in a business.

  • If the founder does not have money to pay but needs the skill, knowledge, experience of someone for his business, he may think of bringing in a Co-founder i.e. offering ownership in Business against fees/salary/charges to someone.

  • Another advantage is, Co-founder brings in his network, resources & vision.

  • He gets paid only when the business succeeds which ensures he/she puts his/her best foot forward with complete dedication, commitment and expertise.

  • One of the many skills of a co-founder is that he/she is supposed to be good in many areas of the business that are consistently evolving or are very critical.

  • Investors feel more secured in a business that is not dependent on just one individual, and they feel assured and more confident when they see a team.

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