What does it take to begin a super-successful enterprise that would in the future hit that billion-dollar valuation mark?
An awesome concept?
An insane work ethic?
The power to learn markets and perceive shopper wants and wishes?
The reply is the entire above.
However there’s one other factor to think about: how many individuals does it take to begin that super-successful enterprise?
In different phrases, in case your long-term imaginative and prescient is to develop into the CEO of a startup unicorn, are you able to do it on their own or do you want a serving to hand from a number of co-founders?
That’s the massive query OnDeck determined to unpack in its newest examine on entrepreneurship.
Utilizing information 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 examine outlines among the large information 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 quicker than startups run by a single particular person.
- Practically 15% of start-ups with a single proprietor fail as a result of the founder doesn’t have the abilities or data to do every little thing themselves.
Partnering with a co-founder is perhaps the best choice if you wish to plan for long-term enterprise success. However that doesn’t imply it’s an straightforward possibility.
Ego clashes, fairness splits, and energy struggles are just some of the issues it is advisable 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 should you nonetheless resolve to go alone, then this examine has obtained you coated. The final part is a step-by-step information on what to anticipate and how you can succeed when operating a enterprise as a single founder.