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Why I'll be a solo founder next time

dennybritz.com

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Re: Why I'll be a solo founder next time

#21

Post by austenallred »

7Figures2Commas wrote: post #20
austenallred wrote: post #7

I think most people recognize that the team is the most important aspect of a startup - from Paul Graham allowing people to apply to YCombinator without an idea, to investors my co-founder and I have talked to being much more interested in who we are, what we know, how we get along, and why we do what we do than product or traction, I think it's safe to say that the team is the most important aspect of a company. I w…

Building a solid team does not require one or more co-founders. It is entirely possible to start a company on your own, hire employees/contractors and then recruit for key leadership positions. Mark Suster's Co-Founder Mythology ( http://www.bothsidesofthetable.com/2011/05/09/the-co-founder... ) and comments at Startup Grind earlier this year ( https://www.youtube.com/watch?v=oAHgGUFjK3c ) are well worth reading/watc…

I can only speak for my own experience; I would be dead in the water without a co-founder, and I would never try to do it alone, nor would I recommend someone else try alone.

Re: Why I'll be a solo founder next time

#23

Post by 6cxs2hd6 »

j45 wrote: post #2

A partnership is more work and harder than marriage because you have to: - get on and stay on the same page - agree on both of your live's direction and commitment to a path has to be the same for the next 2-3 years - have the ability to defer to each other in your area of competence - have to be skilled at learning and getting anything done, whether its business or tech. - know that your entry and exit goals have to…

This is a great list.

Re rounding out skill set, sometimes it's possible for a solo founder to make a couple key early hires. That lets you shorten this list. Some items still apply, but many don't.

Granted those folks won't have a founder level of commitment. But neither do the kind of half-hearted co-founders the OP wrote about. In fact one way to look at this is that some co-founders should be early hires, instead.

Re: Why I'll be a solo founder next time

#24

Post by dennybritz »

wikiburner wrote: post #18

I just figured I'd throw this out there to see if anyone has any insight on it: Do you think certain personality types are probably better off being solo founders? Maybe loners, or people who aren't people persons. Or maybe ADHD types who have trouble keeping relationships on an even keel? Or maybe the Steve Jobs egomaniac, force-of-will types (although, I know he started w/ a co-founder). Obviously, it could depend…

I think it depends on what business you're in. Almost all businesses require a combination of "hustling" (sales/marketing) and "hacking (tech skills). This may be a stereotype, but I think most hackers aren't good hustlers. I'm not a good salesperson, wich is my biggest problem, but I'm trying to learn...

Re: Why I'll be a solo founder next time

#25

Post by jhuckestein »

It sounds like your previous endeavors failed before the stages in which you'd wish you had one or more great co-founders. What if you raise a lot of money and want to share the responsibility with someone? What if something urgently needs to be done during Christmas? Who else could you ask to cancel their vacation? (unless Ron Conway is amongst your investors ;)).

In my experience it's easier to start something alone, especially if it's not technologically difficult (i.e. most webapps). Down the line it's important for me to have wingmen, though. Even if you can carry the load intellectually, it's nice to have somebody with skin in the game for moral support when shit hits the fan. Of course anything is better than having co-founders that don't work out for whatever reason.

Re: Why I'll be a solo founder next time

#26

Post by wikiburner »

dennybritz wrote: post #24
wikiburner wrote: post #18

I just figured I'd throw this out there to see if anyone has any insight on it: Do you think certain personality types are probably better off being solo founders? Maybe loners, or people who aren't people persons. Or maybe ADHD types who have trouble keeping relationships on an even keel? Or maybe the Steve Jobs egomaniac, force-of-will types (although, I know he started w/ a co-founder). Obviously, it could depend…

I think it depends on what business you're in. Almost all businesses require a combination of "hustling" (sales/marketing) and "hacking (tech skills). This may be a stereotype, but I think most hackers aren't good hustlers. I'm not a good salesperson, wich is my biggest problem, but I'm trying to learn...

Whoops, sorry. Looks like we were typing at the same time. I just added the last line, making a similar point.

Re: Why I'll be a solo founder next time

#28

Post by kposehn »

> In particular, don’t found a startup with people that ... have newborn kids

As a startup founder with a newborn (well, 14-month-old) I would say that this shouldn't be a global condition. There are plenty like me that I know who can put forth their full commitment - because we have supportive spouses that are completely on board with our entrepreneurial ambitions.

Re: Why I'll be a solo founder next time

#29

Post by dennybritz »

jhuckestein wrote: post #25

It sounds like your previous endeavors failed before the stages in which you'd wish you had one or more great co-founders. What if you raise a lot of money and want to share the responsibility with someone? What if something urgently needs to be done during Christmas? Who else could you ask to cancel their vacation? (unless Ron Conway is amongst your investors ;)). In my experience it's easier to start something alon…

Yep, you're right. Both of my previous two startups failed in the early stages. I think down the road there's no way around hiring a great team if you want to scale..

Re: Why I'll be a solo founder next time

#30

Post by asabjorn »

j45 wrote: post #2

A partnership is more work and harder than marriage because you have to: - get on and stay on the same page - agree on both of your live's direction and commitment to a path has to be the same for the next 2-3 years - have the ability to defer to each other in your area of competence - have to be skilled at learning and getting anything done, whether its business or tech. - know that your entry and exit goals have to…

It is a great point that partnering with a friend is generally dangerous. From my point of view partnering with a friend automatically give you two problems; you have to maintain a friendship while developing a demanding business relationship. The cost of loosing the friendship will make it harder to make demands and walk away if necessary, even if that is objectively the better path.

I would also caution against partnering with people that think their major contribution is the ideas, connections and/or management. If you are a founder, you execute and drive the company through execution. For a tech startup that means you either drive customer traction or make the software.

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