Setting up a startup is only the building block towards developing a sustainable firm which would cater to the demands of different stakeholders and witness continuous growth, over a period of time.
However, a startup cannot grow merely with one person in charge and requires support from others, who bring in new perspectives that would help in its growth.
Recently, a startup founder and an alumni of Indian Institute of Technology (IIT), Bombay shared suggestions on how to find the right co-founder and why it was essential to ensure there was no conflicts while making key decisions.
"When looking for a co-founder, look for someone whose definition of success is similar to yours. For instance, if you come from a small, middle-class family, an outcome of Rs. 5 crores might be huge for you."
"However, if your cofounder comes from a wealthy business family, for them, it might be peanuts. This might lead to a large difference in vision/outcome," the startup founder wrote on X (formerly Twitter) on Thursday.
The founder also spoke about how differences in appetite could lead to friction and conflicts and issues of such kind was the easiest way to destroy any startup.
"Differences in appetite might lead to friction in taking this decision. Friction leads to co-founder conflicts. Co-founder conflicts are the easiest way to kill a venture," he wrote at the end of the post.
The post saw a lot of replies from users, who thanked the founder for his suggestions.
"This is good advice, Aman. I was recently privy to a falling out between cofounders exactly because of such life expectations mismatch," one user wrote.
"Dear Aman, although you are much younger to me, but you are lot wiser in terms of wisdom. What you say is pure common sense and simple. Wish you all the success," another user wrote.
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