Useful Ways to Find Spectacular Co-Founders

Not all founders want the company to succeed. Some want a way to pad their resumes, and once they discover how hard it is to launch a company, they immediately want to leave in a less-than-gratifying exit.

I have experienced this on three occasions:

• One founder tried to steal our IP for a new employer

• A tech founder failed to complete code they claimed was done

• Another founder liked to troll the remaining people at the company

While getting frustrated with this behavior is easy, we have to take responsibility for our actions. Since I brought them into the company, it was also my fault in all three of these cases.

Screening

Credit and background checks are a good idea for co-founders. Someone in a difficult financial position may be tempted to steal from the company, and those with criminal records can reflect poorly on the company during later rounds or when going public.

References

Contacting previous employers and co-workers is always a good idea. Former employers know about many unwanted behaviors, such as bad tempers, difficulty with stress, and other issues. The critical question is, “Would you hire them again?”

Social media

The potential co-founder’s social media speaks volumes about their personality. If someone posts about political issues or takes a public stand on hot topics, it could cause problems for the company. The same is true for those without a social footprint, who may be hiding something.

Friends of friends

While friends and their friends feel like a safe choice, the stress of building a company will eventually cause all relationships to strain. You do not want your friend to have to take sides. Instead, use your network to find people with professional recommendations rather than personal ones.

Solo

If you are one of those exceptionally talented people, maybe it is best not to have a co-founder. Instead, hire an assistant and contract out much of the work during the early days. I have seen this work well for several companies. However, it tends to build a large amount of technical debt that has to be paid back later.

Conclusion

Your new company is 100% reliant on the quality of the founding team. If you have a bad apple on that team, it could be impossible to move forward, let alone position the company for rapid growth.