Building a team is one of the most fundamental components of starting a startup or business. Very often, the one big question that comes up is whether you should found your company alone or if you should find a cofounder.
The thing is, there is no right or wrong way when it comes to this. Personally, I believe it depends on you the individual, what your goals are and what your unique situation is because going solo or having a cofounder each has its own advantages and disadvantages.
If you are looking to start a company where there is a need for a critical skill which you lack, then having a cofounder becomes very essential. For instance, if you want to start a tech company but you’re not skilled in tech, then you need to find a technical co-founder.
However, if you’re starting a retail business where you buy products from somewhere and sell for a profit, you may not necessarily need a cofounder.
In this video, I break down the advantages and disadvantages of going solo or having a cofounder. Enjoy!
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