How To Find a Cofounder

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A founding team includes someone who is building it and someone who is selling it.

It's important that the startup has two founders.

Here are some steps to find a cofounder for your startup.

Figure out which role the founder is taking and look for a cofounder to fill the other.

The key to finding and recruiting the co-founder is to show how the business will be successful.

This typically starts with a customer or market ready to pay for the product to be produced.

Show the key insight you have into the market and how you can use it to create a successful business.

Validate with customers who are ready to buy the product and place them on a waitlist.

Sign up customers who are ready to pay and provide the service manually till you have an automated solution.

Gain agreement on the goals of the company for the coming three years.

Negotiate compensation based on what each founder is bringing to the table.

Use the negotiation process to test out the other's skills.

Go on joint sales calls to see how each performs.

Work on the product development to see what progress can be made.

Consider these steps in finding a cofounder.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

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