![](https://img.etimg.com/thumb/msid-21719426,width-300,height-225,imgsize-32510,resizemode-75/.jpg)
Why are cofounders considered so important in the startup world?
The biggest advice I have given to entrepreneurs is not to start alone. I always tell them to find a co-founder with whom they have good chemistry and with whom they share similar goals and vision for the venture.
Having a cofounder helps get through the ups and downs of starting up.
How did your partnership with Binny Bansal come about?
In IIT-Delhi we did have a number of courses and projects together but did not know each other very well. When we moved to Bangalore for work and shared an apartment with a number of other friends we got to know each other better. In 2007, when we were in Amazon and part of the same team, we started talking about doing something on our own and discussed it with other friends too. Soon Binny and I noticed that we think alike and decided to start together. In the early days we had no real role definition.
In late-2008 when we were talking to the major investors in the country they kept asking us who was the chief executive. That is when we realised we needed to figure that out. We went back, looked at what a CEO and a COO does, spoke to advisors and then in quite an ad-hoc manner decided I would be the CEO and Binny the COO. We did not really follow these designations and did whatever was required at a startup.
From sweeping the floor to hiring, the founders should be ready to do everything. It was when we began to grow and started hiring senior managers that we realised that we needed to define our roles better as it was leading to confusion.
Personally, what is the advantage you feel you have with Binny Bansal as a cofounder?
A shoulder to cry on. A cofounder is a person who can hold you together. We were a small company growing rapidly in a new industry. There are mistakes we have made.
We did not blame each other when we made these mistakes.
How have you made your partnership work?
We consult each other for almost everything. The interesting thing about us is that though we might have similar backgrounds— both grew up in Chandigarh, went to the same college and worked in similar companies—our working styles are very different and complementary. Binny is very organised, while I am impulse driven. I am more emotional and intuitive and Binny is very rational and is able to assimilate a lot of data.
What should entrepreneurs keep in mind when trying to decide on a cofounder?
People don’t realise how difficult this is. There is no rule; there is no job-description for a cofounder. It all depends on personalities. The basic requirements are patience, respect and understanding.
(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.
(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.