I recently had an initial chat with a potential co-founder for a business venture. Finding the right co-founder(s) is as hard as it is crucial and can make or break the journey. To prepare accordingly, I came up with a simple framework of what was vital for me to walk through. It is a dual-trinity model composed of six elements; because lists of three are surprisingly easy to remember.

After hearing from fellow founders that it had been valuable to them, I am sharing it here, hoping it will be a useful tool for others to find alignment with their co-founder. Disclaimer, this is an in-progress opinion piece, as I don’t have a supporting established dataset on its effectiveness (yet :D).

Let’s start from the beginning:

A co-founder is a relationship.

Relationships are at the core of our lives, whether it be: romantic (lovers), social (friends), or work (employees and business). It is essential to establish clear communication and align expectations to increase their likelihood of success.

Any relationship is a fit between two puzzle pieces. The clearer the puzzle pieces are to one another, the better they know if they are an excellent fit for each other.

But what to check? What to talk about to evaluate the pieces effectively and not miss important points?

Both founders should lay out their expectations across the dual trinity. Thus, they can assess if they are a good fit for one another and if their expectations align on the key points.

First trinity: The founder A, founder B, and the business.

It is a three-way symbiotic relationship. Each part will exchange with the other two with reciprocity. The founders should establish transparently what they expect each element to give and receive from the other two pieces.
What do you expect from the business? E.g. a dream, a salary, a lifestyle? What do you want to give to the business? How much of it? What do you expect your co-founder to deliver to the business? What do you want from your co-founder? E.g. stability, direction, vision?

I believe it is required to separate the business entity, as there is a clear-cut difference between what you give to and get from a business or a human person. It is crucial to be honest and transparent, as much with yourself as with your potential future partner. Pretending to be a different puzzle piece will only lead to a misfit down the line.

Second trinity: Investment, Equity, and Betrayal.

Investment: It’s not just about the money, nor only the time, nor just the emotional commitment, but a combination of them all and a bit more. It’s about the speed you want to go at with the project, how hard you will sweat, and how critical is the project to you. I do not believe a successful co-founder relationship can ensue from misaligned investment expectations. Both founders should be aware and ok with the speed at which the other founder is running.

Equity: Once again, I picked a misleading name for how easy it is to remember. We know that aligning equity expectations is key, but the point that needs addressing is the level of co-ownership in the day-to-day. 50-50 vs. 51/49 is not about the 1%; it’s about co-captaining the ship, both owners, vs. a captain and a crew member (or right hand). Once again, founders’ desires must align. A co-captain will not work well as a crew member, and a crew member does not want to fill co-captain shoes. This topic deserves its article, which I might get to one day.

Betrayal: What would make you feel immensely betrayed? What would be your dealbreakers, which might not be for everyone else? An easy example of why this is important is two founders going into a startup together, only to realize a couple of years later that it was a cherished baby for one while it was just a cash grab for the other. Are there things you can’t and never will stand for? Another way to look at this point is what are your non-negotiable values.

This framework will undoubtedly evolve, and I would love to hear your thoughts! Please contact me through the blog form, and subscribe to hear about the future articles. Have a great day!

Thanks to Ashley for her early feedback :)