We may all secretly believe there’s an entrepreneur inside us, but having a dream and making it a reality are two entirely different challenges. What if we told you that the perfect co-founder is out there (cough, cough—waiting for you on the elphin platform!)—someone who can be that little bird on your shoulder, keeping things on track and ensuring momentum is maintained? With a co-founder, you can bounce ideas—yes, even the idea—off each other, motivate each other when the rollercoaster of building a business kicks in, and complement each other’s skills while learning new ones.
Research shows that startups with co-founders often have higher success rates compared to those with solo founders. A study from the Oxford Internet Institute found that companies with three or more founders are more than twice as likely to succeed as solo-founded startups. But how do you know who the right co-founder is—the yin to your yang, your Starsky to your Hutch, your Larry Page to your Sergey Brin?
How to Find the Perfect Co-Founder
Aside from using our co-founder matching platform at elphin, Harvard Business School suggests considering the following questions when evaluating a potential co-founder:
- Is this person obsessed with solving the problem?
- Can this person embody the culture I want to create?
- Will this person attract and retain talent?
- How does this person present to investors?
At elphin, our co-founders (Suze and Jule) have discovered that, while they possess very different skills, the most crucial factor is being passionate about the problem and obsessed with finding a solution. They are more focused on understanding and tackling the problem itself than clinging to a specific solution, which means they’re always open to each other’s views—because the best answer could emerge from their constant collaboration.
They’ve also learned that co-founders need to like each other enough to want to communicate daily. Suze and Jule often talk to each other more than they do to their own families. The fast-paced nature of the startup world demands that they stay in tune, focused, and ready to share ideas immediately. Their excitement and dedication keep them connected and motivated, ensuring that their vision for elphin continues to evolve and grow.
Discover more about co-founders on elphin.