Are there reasons to believe that starting with a stranger as a cofounder will generally work out well if you can pick the stranger carefully?
Are there reasons to believe that starting with a stranger as a cofounder will generally work out well if you can pick the stranger carefully?
Sure, and some people go there looking for that. Most go there looking for short term enjoyment and possible long term relationships. That doesn't map onto the cofounder search. There is not much value in having the equivalent of "a couple dates" with at potential cofounder. And some people would actually see it as a negative, if they're worried (rightly or wrongfully) about their idea being stolen.
Which is probably a petty lousy idea.
I don't see how starting a company with a stranger is going to have better results. There will always be exceptions, but it seems like a bad idea.
You're perhaps incurring more risk, compared to a friend/colleague you've known for 10 years; but then, there may also be a reward in connecting with a talented mind who you wouldn't've otherwise. (And it's not as though startups with close friends can't also go south in very ugly ways.)
You want to start a company, you know what you want to make, to provide.
You've been itching to do this for years.
You think, "I can only do this with someone I know incredibly well, who has the right personality traits and skills".
What are you going to do with your dream if you don't know anyone like that?
Grow old and die waiting?
Those years are passing by, and you still haven't met the right co-founder among your friends...
Also in terms of getting to know whether you can work with someone, it's not as hard as say finding a spouse, where you tend to not even know what you want.
I recently met with a guy with a very similar professional background to myself and I could tell immediately we thought the same way. We definitely qualified each other. I'm sure that kind of thing happens to a lot of experienced professionals.
The best way to learn from your mistakes is when you're open to making a bunch of them.
And "bad" can have many definitions: they can be great friends but lack the entrepreneurial spirit, you may feel like they do less than you – even though they have just as many shares, or they do something that proves you can't trust them... plus so many other scenarios.
In a perfect world, you would be able to pick and choose from people who are trustworthy, great to hang out with, super skilled and willing to give up a stable job to risk building a startup. But in the real world, most people lack at least a couple of those things and you have to compromise.
I would be super cautious starting a company with a stranger. But... Finding a developer who's a friend willing to work for free (for a promise of future returns, that is) is super hard, and I'm actually talking to a potential co-founder met via FoundersList now.
My first three steps to verify whether building a startup together makes sense would be:
1. Get to know each other, talk a few times, see if you like each other and the vibe is right. Travel together for a few days if you can (which may be tough right now) – that can be a real test of whether you can stand to be with each other and how you react to different situations.
2. Work on something small together. Maybe a pre-MVP version of your app or one feature. No commitment until it's ready.
3. If it turns out you worked together well and delivered something good without jumping at each other's throats and you feel good about it, then go ahead and build that big thing as co-founders.
Just make sure to have a written agreement that determines what happens if one of the founders decides to leave, how decisions are made, etc. – it may seem like too much in the beginning but it will save you a lot of stress and fighting over "silly" stuff later on.
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"Choosing the wrong co-founders" is actually one of the top startup mistakes for me.
If you would like to read about more, here's an article I wrote some time ago about the top 11 startup mistakes I wish I don't ever make again: https://www.linkedin.com/pulse/you-fail-can-less-making-othe....
It didn't end well.
There are no guarantees. Other than not starting won't end in failure. It just won't start.