In the startup ecosystem all over the world, the message of having co-founders has been drummed down for a few decades now. But in some cases, founders find themselves in a corner looking for co-founders until they start to think that the hunt isn't worth it at all. But what is the case for having a co-founder and why has such a message been hammered home for a while?

The most important thing to note in all of this is the nature of startups. Building a startup is probably one of the hardest things anyone will do in their lifetime. The journey is usually lonely, filled with ups and downs, and in some cases these ups and downs can occur on the same day, taking the founders on an emotional rollercoaster like never before. So the question here is if you would want to go through this alone. 

As a founder, you should be able to share this kind of rollercoaster with someone else. It will without a doubt help you to manage your emotions, give some sense of calm in the turbulence and also hold your hand in moments where you can't do it for yourself (these moments will be plenty). But apart from sharing the pain, there is another role co-founders play. 

The nature of building a startup rounds off to working with minimal resources for maximum output. Founders do not have an option when it comes to this. Startups never have the resources of legacy companies, so they have to get creative. Having co-founders gives the startup a chance to build a team of complementary skills at a cheap cost. If one founder is a good salesman, they have a chance to bring in a good developer as a technical co-founder and another to lead operations. 

In this sense, the startup will not have to spend loads of money hiring an Indian software engineer off Fiverr to do the job. They will rely on their own co-founder who can throw 18-20 hour days at the startup building everything. This helps the startup save on costs. So it is important to have a team of founders with complementary skills. 

But as much as it is important to have co-founders, it is even more important to have good co-founders. Having co-founders just for the sake of having them, is a surefire way to die. Disagreements among the co-founders are one of the leading causes of startup deaths. So it is important to keep hunting for the right fit. 

A good co-founder should be committed to the cause and willing to throw in long hours to make it work. He should be highly motivated because building a startup will require a lot of sacrifices because there will be so many days when things are not working out, and only personal motivation will keep one going. 

The best co-founders in my experience are those who have built or building their own startup or those who are engrossed in the startup community. But it is a delicate balance. And if you realize as a founder that you chose the wrong co-founder, please forgive yourself. To err is to human, and to err in the startup ecosystem is the default. But the most important thing in all of this is to have a watertight founder’s agreement to protect both of you. 

A founders agreement in the startup ecosystem serves as a foundational document outlining the rights, responsibilities, and obligations of the founding team members. It typically covers essential aspects such as equity ownership, decision-making processes, roles and responsibilities, intellectual property rights, and dispute-resolution mechanisms. Within the agreement, founders can expect to define the percentage of ownership each co-founder holds, often based on their respective contributions, whether financial, intellectual, or in terms of time commitment. 

Additionally, the agreement may detail how major decisions will be made, including matters related to product development, fundraising, and strategic direction, to ensure alignment and prevent potential conflicts. Intellectual property clauses are also common, specifying how the startup's intellectual property will be owned, managed, and protected, safeguarding the company's innovations and assets. 

Furthermore, founders should expect provisions addressing the possibility of a founder leaving the company, outlining procedures for equity vesting, buyback rights, and the transfer of shares to maintain stability and continuity within the team. Overall, a well-crafted founders agreement lays the groundwork for a strong and harmonious partnership, providing clarity, protection, and accountability for all parties involved in the startup venture.

Just like in a marriage, the woman you marry isn't the same woman that you divorce. Essentially, a co-founder when things are going well may not be the same when things have hit rock bottom. So, sign an agreement to cater for moments like this.