What does it take to begin a super-successful enterprise that would someday hit that billion-dollar valuation mark?
An amazing thought?
An insane work ethic?
The power to learn markets and perceive client wants and needs?
The reply is all the above.
However there’s one other factor to think about: how many individuals does it take to begin that super-successful enterprise?
In different phrases, in case your long-term imaginative and prescient is to change into the CEO of a startup unicorn, are you able to do it on their lonesome or do you want a serving to hand from a number of co-founders?
That’s the massive query OnDeck determined to unpack in its newest research on entrepreneurship.
Utilizing information gathered from enterprise leaders and specialist on-line sources, it breaks down every part you have to find out about beginning a enterprise with a co-founder or going solo.
The research outlines among the huge information factors concerning companies with co-founders.
For instance, do you know that…
- 8 out of 10 billion greenback companies began within the final 17 years have two or extra co-founders.
- Companies with co-founders develop 3X quicker than startups run by a single particular person.
- Almost 15% of start-ups with a single proprietor fail as a result of the founder doesn’t have the abilities or information to do every part themselves.
Partnering with a co-founder is likely to be the most suitable choice if you wish to plan for long-term enterprise success. However that doesn’t imply it’s an simple possibility.
Ego clashes, fairness splits, and energy struggles are just some of the issues you have to navigate when working with a co-founder.
That’s why OnDeck added a breakdown of the largest co-partner challenges, together with the best way to overcome them.
And for those who nonetheless determine to go alone, then this research has received you coated. The final part is a step-by-step information on what to anticipate and the best way to succeed when working a enterprise as a single founder.