The September 2016 Inc. 500 just landed on my doorstep (my dirty little secret: I like paper). Some fun stats from successful Inc. 500 founders when asked what the thing is that concerns them most:
Attracting and Retaining Talent
45%
Staying Focused
21%
Managing Fast Growth
19%
Remaining Competitive
9%
Keeping Up with Rapid Technology Changes
7%
The greatest concern when starting their business? 43% said failure.
86% state that their primary goal is to scale.
Helping employees grow: 61% provide outside training to employees and 28% have leadership development programs. (Shameless plug: We can help with that!)
“A relationship with the right business partner can be just as meaningful — if not more so — than with a dating partner.” – Nellie Akalp, mashable.com
IMAGE: GARY BATES/CORBIS
Right on point! The two points that resonated most with me here are 1. Find a cofounder who is willing and able to put in the same level of effort as you are; and 2. don’t let the excitement blind you to red flags.
I’ve seen founders thrown and disillusioned when they are putting their hearts and souls into a business while their cofounder is more stopping by to do some work. Of course you must take into account people’s economic realities: if she needs to keep her day job until you’ve got some level of funding, figure out if a full partnership is really viable. It may not be. And it may take a few months until it is. Go in with eyes wide open. Answer the questions raised in Alkap’s mashable piece.
And the red flags? Just like in dating… If something bugs you now (or is a niggling doubt), it will only grow. People are never better behaved than they are at the beginning of a relationship. N E V E R. Play the field a little. Have discussions with the successful co founders you know to see how they make it work.
As with all big decisions, best to dip your toe in before you dive.
