Is it better to be a solopreneur or co-founder?
Business Marketing with Nika
33 replies
What group do you belong to?
What advantages and disadvantages does it have?
Replies
Paula Schiffelbein@paula_schiffelbein
I am a co-founder and greatly enjoy how we complement and support each other. This journey we have chosen is better when shared. What do you say @andres_cufari ?
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@andres_cufari @paula_schiffelbein How long have you been running the business together with others?
@busmark_w_nika Hi Nika! 2 years! and we know each other almost 4 years.
I have been a co-founder and now a solo founder.
With other co-founders, you can do a lot more work. But you can also have more conversations leading to spending more time.
As a solo-founder you act quicker, but you don't have a second opinion.
PS: solo founder is different from a solopreneur
@alessio_mavica You are right, thanks for correcting me. I switched the words by mistake. ๐
But yeah, having more people involved in the project โ things can go pretty smoothly when you are not alone for the work.
I've had co-founders in the past. While it was really amazing to have them, ultimately we had to separate due to their family pressure.
Building a startup is extremely taxing.
I am tried to become a solopreneur. Struggling but I will become one day.
@nitin_joshi Hope that your plans will come true! ๐
Choosing between going solo or co-founding depends on personal preferences for control versus collaboration. If you prefer autonomy and handling challenges alone, solo entrepreneurship fits best. If you value shared decision-making and diverse inputs and trust people to do better than you at some tasks, co-founding is the logical choice. ๐ค
@shreya_gupta02 I noticed that people who are co-founders are more likely to be funded (it is like risk distribution). ๐
Launching soon!
Solo
there are different advantages and disadvantages to being both.
being a solo founder means being in full control over everything and there is no need to be in an agreement with someone, thus work flows more quickly since you donโt have to elaborate every step with someone, thatโs exactly why itโs more easy to make a mistake because there is no opposition to the new ideas.
being a co-founder on the other hand means that the responsibilities are split and each founder can focus on their field of expertise. also when it comes to motivation co-founders can balance each other and work through every problem together. I think being a co-founder is like being married. choosing a right person to start a business with is very important because if the relationship fails the business also fails.
In my opinion, being a co-founder has more advantages. of course it varies depending on the person, but overall speaking I find it better.
I also noticed that investors prefer investing into businesses with 2-3 founders rather than 1.
@elle_g Wow, detailed examples are given, I predominantly like that parallel about marriage. I should definitely team up with somebody but at first, I need to find someone I can fully trust and to be at (almost) the same wave. Not completely the same because in business you need a kind of disruptors as well. ๐
@busmark_w_nika well yes you need to find someone compatible not the exact copy of yourself๐
@busmark_w_nika Iโm sure youโll find somebody like that๐
If you're not creating a major project, being solopreneur is nice. But big projects always require a team, and as a founder, your task is to build the right team. You don't need to know everything, just find the right people and have some knowledge in every aspect. I prefer to be a co-founder. I always embark on the journey with the right people.
All a business needs is a product and a customer. If you can do both yourself, no need to split the pie.
A co-founder should bring something to the table that you aren't. Duplicating efforts early is inefficient. It's like a marriage so choose your partner carefully.
I had been working with my friend as a co-founder for 1.5 years now working as a solo founder. I must it's tough when there is not second opinion. Different perspective matters in a startup. So, I have to talk with lots of people and customer about my product to gain their perspective
@mahir_muzahid who gives you those opinions about your business when you are now a solo?
@busmark_w_nika honestly, mostly my family members, friends! I try to reach them with my product and I try to convince them first. Because they are the easiest to convince. If I cannot convince them how can convince a stranger!
@mahir_muzahid But is it a good thing? I mean, yeah, the family should be the firs in line that should support you but are they real customers who try to solve the problem with your product? You know what I mean.
@busmark_w_nika you are right! I just do go to my grandma and talk about AI!! Hahaha! Of course I go who can give me feedback! Like taking some early info before going to the actual customer
@mahir_muzahid IMO this is actually a good thing that you conversate with your grandma about these topics. It is a kind of education. Keep going! :-)
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Itโs interesting to know !
@ipaparazzo_app BTW, I think that there should be another PH community call that Slim organizes. Have you seen that?
I love the YC advice: the ideal team size for a founding team is the minimum number of people you need to make meaningful progress towards your milestones. Nowadays I use this rule to determine the best setup.