Are Cofounders Necessary

Are Cofounders Necessary?

There is no "one right way" to build a company.

As a result, entrepreneurs seeking guidance will always be given contradictory advice on how to build their business, from both "experts" and the uninformed alike. Ultimately, it is up to the entrepreneur to evaluate the opinions they receive and pursue the path they feel is best for them.

The Startup Lean presents two differing viewpoints on key entrepreneurial topics for you to decide which way you lean.

This week's topic is about whether it is necessary to find a cofounder for your startup.

Do you need a cofounder?

No need Co-founder

"Today, it is more possible than ever before for one person to effectively lead both building and selling during a consumer internet startup’s early growth phase. I’m seeing it done first hand by some of my single-founder friends, each of whom I believe will be wildly successful.

In lieu of co-founders, these folks are instead assembling strong teams of employees, often in “co-founder-like” roles, after having established their companies.”

- Geoff Lewis (Cofounder and CEO, TopGuest) Entrepreneurs, Listen Up: You Don't Need A Co-Founder Anymore 

Need Co-founder 

"Cofounders give each other emotional support, a sounding board for ideas, and accountability partners.Research by MIT professor Edward Roberts (cited in Startups That Work) states that the chances of being “very successful” increased with two, three, then four cofounders in a startup. The reasons?

Compared to a solo founder, cofounders pull from a more diverse skill set, can contribute more of their own money (total), and have often worked together before."

- Frank Gruber (Cofounder, CEO and Executive Editor of Tech Cocktail) Do You Need a Cofounder?

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