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Solo Founding vs. Co-Founder: Which Approach is Best for Entrepreneurial Success?
While some entrepreneurs prefer the freedom and control of going solo, others believe that a co-founder brings complementary skills and support.
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@neha_joshi8 Absolutely! Support from co-founders brings valuable collaboration and stability, contributing to long-term success. Well said! 👍
i used to love being solo, and enjoying solo success as i get 100% of my earnings,
its just recently that i have realised that team work can yield greater results and even the 50% of your earnings will be more than 100% of your solo earnings
@aaric_evans Absolutely! Collaborating with a team can bring immense value and open up new opportunities for growth and success.
I'd say it heavily depends on the type of business! Product businesses are typically easier to set up as a solo founder, where you have sole responsibility for decisions. Services / more technology focused businesses it massively helps having a few different skillsets amongst the decision makers. At Perito, we have 3 co-founders, myself as the CEO, a tech focused CTO, and a marketing/branding person. It just enables us to ensure all our decisions adhere to our brand, before we start employing people.
@perito_henry It varies based on the business type. Solo founding offers autonomy, while co-founders bring diverse skills. Your team at Perito demonstrates a well-rounded approach. 👍
Depends on your goals/path.
For VC-backed "build next big thing" you almost surely want a co-founder (and this is what all the accelerators push you to do).
For "I think there's a valuable niche that I can serve and earn a good living" kind of building solo may work as well or better, as the fruits of your labour are by definition more limited.
Co-Founder but ONLY if all of you have different ways of thinking and expertise.
@heyjoshua Agreed! Diverse perspectives and expertise among co-founders make for a strong and well-rounded team. Great point! 👍
I think this largely depends on where the founder is at in terms of experience, connections, skill set, etc. I'm so appreciative of my co-founder's prior experience as a founder, her connections, her strong sense of organization, and her knowledge in the product area. I definitely couldn't do this without her.
Skill set and strengths aside, it's also invaluable just having someone to converse with, ideate with, share the workload with, etc.
I think a strong founder with fantastic connections and necessarily skills can probably do it alone, but I don't know if I'd ever prefer it or want it to be that way for very long.
YourGPT