IIT Bombay alumni Aman Goel, who is also the startup’s co-founder and CEO, took to X to shed some light on how to find the perfect co-founder. He also emphasized the importance of co-founders and how “conflicts” with them can “easily kill a venture.”
The Mumbai-based entrepreneur, who is also an alumnus of IIT Bombay, expressed that one’s definition of success must align with their co-founder. (X/@amangoeliitb)
“When you’re looking for a co-founder, you’re looking for someone whose definition of success is similar to yours,” Goel wrote on X. He explained this with the help of an example.
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He added, “For example, if you come from a small middle-class family, a result of Rs 5 crore could be huge for you. However, if your co-founder comes from a wealthy business family, it might be peanuts for them. That could make a big difference in vision/outcome.”
A Mumbai-based entrepreneur gave another example of how someone can be “eager to pursue” a client, but “the co-founder may not be interested.”
“For example, you might want to look for a client who will pay INR 25 lakh per annum as that brings you closer to your target of INR 1 crore per annum in revenue for the quarter. However, your co-founder may not be interested in that client simply because he is targeting ₹25 crores per annum and this client would be just 1% of that,” Goel further expressed.
He went on to say that whether or not they pursue a specific client depends on “how big an outcome the founders want.”
Goel said that “differences in appetites could lead to friction in making this decision”, which in turn leads to “co-founder clashes” and “killing the venture”.
See the full post here:
Since it was shared a day ago on Xu, the post has garnered more than 22,800 views and numerous likes and reshares. Many even took to the comment section of the post to share their thoughts.
See how people reacted to this post here:
“This is good advice, Aman. Recently, I was aware of a fight between co-founders precisely because of such a mismatch of life expectations,” wrote Abhijeet Mukherjee, former CEO of Guiding Tech.
Another added: “This is a true story that happened to me. Fortunately, it didn’t kill my venture, but part (1) different wealth is a big misunderstanding between the co-founders.”
“Dear Aman, although you are much younger than me, you are much wiser in terms of wisdom. What you say is purely reasonable and simple. I wish you much success,” said the third.
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Source: newstars.edu.vn