Join Whitney Johnson for an in-depth discussion in this video Deciding on a cofounder, part of Entrepreneurship Foundations.
As you launch your business…you will need to decide if you are going to fly solo…or form a founding team.…There are number of reasons…why you may decide to go solo.…You have enough of what you need,…expertise, networks and money…to get off the ground.…You want to retain 100 percent…of the equity and decision making.…You like to work alone.…According to Noam Wasserman…and author of The Founder's Dilemma,…there is a case to be made for going this route.…
When companies fail, they frequently fail…because of complications around building a team…including disagreements over roles and compensation.…Ironically though, if you do go solo…there's a higher risk that your start-up will either…fail to reach its full potential or fail outright.…In Wasserman's data set of high potential tech…and life science start-ups,…only 16.1 percent were solo founders…whereas more than one-third had two founders…and 50 percent had more than three.…
If you decide to go the route of a co-founder,…here are some tips for ensuring…that you pull together a founding team that works.…
- Finding your idea/problem to solve
- Finding your first customer
- Writing a business plan
- Deciding on a legal structure
- Building a team of employees and advisors
- Marketing your business
- Building a website
- Minding cash
- Managing stress
- Funding growth
- Balancing entrepreneurship and life
Skill Level Appropriate for all
Financial Literacy: Reading Financial Reportswith Rudolph Rosenberg1h 25m Appropriate for all
1. Finding Your Big Idea
2. Starting Your Business
3. Building a Team
4. Marketing Your Business
5. Scaling Your Business
6. Funding Growth
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