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Bangalore: The idea struck and the next thing is the execution of the plan to grab big opportunity. But the need for a co-mate comes in to help in dividing the strain. Who comes to the mind at the first instance - The age old friend who's been out there with a helping hand at every difficulty or the one who won every college competition along with you? But are they fit to be co-founders just because they were your great friends? "Co-founders should be more of a complementary in nature. The skill sets that you have should be different from the skillsets of your co-founder to run a successful business," says Gaurav Saraf, of Epipheny Ventures.
As Y Combinator co-founder Jessica Livingston once pinpointed during her speech in As Girls in Tech Conference, if one ends up hiring a B player as a co-founder, in return he will hire a bunch of C players and then the team would just be a mediocre team. If her words are to be believed, the future could be bleak in terms of attracting any amount of support from investors. "For VCs the idea matters but the execution matters more and hence a better team," said a group of VCs in a general consensus at SiliconIndia's StartupCity.
So, what makes a perfect co-founder? "The trust and complimentary skills are primary for any co-founding startup to run well. For instance, I'm more detail oriented, while my co-founder is more into strategic thinking," says Milind Katti, Co-Founder and Executive Director of QED Baton, an IT services firm. Finding the perfect co-founder is just a half job and the next battle is the decision making. Katti explains, "Even if you are friends, there has to be professionalism at every point to avoid concussions at a later point. Roles needs to be divided and at a later point even during conflicts, the take of the one who will be said to be the decision maker will be deemed as final."
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