Should You Have a Cofounder?

Hey founders,

One of the biggest decisions you’ll face when starting a business is whether or not to have a cofounder. There’s no ‘right’ answer here—but it’s a critical question to ask. 

Let’s dive into the pros and cons of having a cofounder, and the four must-haves you should consider if you decide to bring one on board. Whether you’re in the early stages of starting your business or thinking about expanding, let’s think through the options. 

1. Cofounders: The Good and The Bad

The Good: Sharing the Load

Building a business is hard. 

That’s why having a cofounder by your side can feel empowering. A good cofounder is like a great teammate—they support you in tough decisions, share the workload, and bring different strengths to the table.

Think of it like this: even the great Michael Jordan didn’t win championships by himself. He had a strong team behind him. Similarly, a cofounder can accelerate your progress, bringing in expertise or skills you may not have –– making the journey smoother and often more enjoyable.

The Bad: The Marriage Analogy

On the flip side, cofounder relationships are like marriages. 

You’re entering into a long-term, high-stakes relationship with someone. And… things can get messy if you’re not aligned. Disagreements, miscommunication, and conflicting visions can not only strain your relationship but can also kill your business entirely.

Cofounder disputes are one of the leading reasons why startups fail. The stakes are high, and if things go wrong, you’re not just dealing with hurt feelings—you could be dealing with a collapsed company.

2. The 4 Must-Haves for a Successful Cofounder Relationship

If you’re going to bring on a cofounder, you need to be deliberate about the selection process. Here are the four things every successful cofounder relationship should have:

1. Shared Values  

Your values are your guiding principles, and they play a massive role in how you run your business.

If your cofounder doesn’t share your values, you’re going to run into significant conflicts. For example, if you value integrity but your cofounder prefers to “win at all costs,” that’s not a good mix. Take the time to get clear on your own values and ensure that your cofounder shares them.

2. Shared Vision and Expectations

It’s not enough to have the same short-term goals—you need to be aligned on the big picture.

Where do you want this company to go in five years? What’s your exit strategy? Are you building a lifestyle business or aiming for fast growth? Misaligned expectations will lead to frustration down the road. Make sure you and your cofounder are aiming for the same destination (both short and long term)

3. Complementary Skill Sets 

The last thing you want is a cofounder who’s a carbon copy of you. 

You need someone who brings different strengths to the table. Maybe you’re great at sales and vision, and they’re amazing at operations and execution. A good cofounder should fill in the gaps, not mirror your skills. This balance allows you to divide and conquer, making the company stronger.

4. Similar Lifestyles  

You’re not just partnering with someone’s skills—you’re partnering with their lifestyle. 

Do you both see eye-to-eye on work-life balance? What about how many hours you want to work? If one of you is a workaholic and the other is building a lifestyle business, you’re going to have problems. Make sure your lifestyles are aligned so that your day-to-day expectations are clear and reasonable.

Is a Cofounder Right for You?

The answer depends on your goals, your personality, and your vision for the company. Some founders thrive with a cofounder by their side, while others prefer to go it alone.

If you decide to bring on a cofounder, make sure you’re doing it for the right reasons—not just because you feel like you “should.”

Here are some questions to consider:

• Do we share the same values and vision for the company?

• Do we have complementary skill sets that will push the business forward?

• Are we aligned in terms of lifestyle and work expectations?

If the answers are yes, you might be ready to bring a cofounder into the fold. But if you’re unsure, it might be worth taking a step back and reevaluating whether you really need one.

The Big Takeaway: Choose Your Cofounder (or Go Solo) with Intention

There’s no “right” answer when it comes to having a cofounder, but the key takeaway is this: don’t rush into the decision. 

It’s one of the most important choices you’ll make as a founder. Whether you choose to go solo or bring on a cofounder, do it with intention. Make sure you’ve thought through the four key areas: values, vision, skill sets, and lifestyle.

Take the time to get it right, and you’ll set yourself up for a successful journey.

Questions for the Road

1. Are your values and vision aligned with a potential cofounder?

2. What skills do you lack that a cofounder could bring to the table?

3. How does your lifestyle and work ethic align with theirs?

That’s it for this week, founders! Keep pushing forward, and don’t forget—whether you’re going solo or working with a cofounder, success comes from building with intention.

— The Tribe Team