Why Every Successful Business Needs a Co-founder

What does it take to start out a super-successful enterprise that would in the future hit that billion-dollar valuation mark?

A terrific concept? 

An insane work ethic? 

The flexibility to learn markets and perceive shopper wants and wishes? 

The reply is the entire above. 

However there’s one other factor to contemplate: how many individuals does it take to start out that super-successful enterprise?

In different phrases, in case your long-term imaginative and prescient is to grow to be the CEO of a startup unicorn, are you able to do it on their own or do you need a helping hand from one or more co-founders? 

That’s the large query OnDeck determined to unpack in its newest research on entrepreneurship. 

Utilizing knowledge gathered from enterprise leaders and specialist on-line sources, it breaks down everything you need to know about starting a business with a co-founder or going solo.

The research outlines among the large knowledge factors relating to companies with co-founders. 

For instance, do you know that…

• 8 out of 10 billion greenback companies began within the final 17 years have two or extra co-founders.
• Companies with co-founders develop 3X sooner than startups run by a single individual.
• Practically 15% of start-ups with a single proprietor fail as a result of the founder doesn’t have the abilities or information to do every part themselves.

Partnering with a co-founder is perhaps the most suitable choice if you wish to plan for long-term enterprise success. However that doesn’t imply it’s an simple choice.

Ego clashes, fairness splits, and energy struggles are just some of the issues it’s essential to navigate when working with a co-founder.

That’s why OnDeck added a breakdown of the most important co-partner challenges, together with how you can overcome them.

And in case you nonetheless determine to go alone, then this research has bought you lined. The final part is a step-by-step information on what to anticipate and how you can succeed when working a enterprise as a single founder.