What Happens When a Co-Founder Leaves a Startup + Solution
This post was originally published in technext.it See the post here: What Happens When a Co-Founder Leaves a Startup + Solution
When you have an idea and are all set to start, you might need some capable people around you who believe in the power of the group as a whole and use their passion and skill to build something amazing. These people are your co-founders, the companions of your funder’s journey.
Unfortunately, like any other human relationship, co-founders can drift apart, and this co-founder conflict can cause the downfall of the startup itself. In fact, 65% of startups fail due to co-founder conflicts.
But your startup doesn’t have to face the same fate due to cofounder conflicts if you select your partners wisely and manage their departure with precision. Let’s learn how you can do this, but first, let’s get to know the basics of co-founder dynamics.
Understanding the Co-founder Dynamics
Starting a startup is a challenging endeavor that demands a multitude of skills, unwavering dedication, and hard work. These qualities are often difficult to find in a single individual. Having one or two partners or co-founders can bring new skills to the table and alleviate some of the workloads from the original founder.
Your co-founders don’t only bring skills and points of view to the table; they also play a crucial role in the establishment and growth of your startup. There are two kinds of startup founders: those who are part of your business’s vision from the beginning and those who you invited to join in the early days based on their skill set.
Although it didn’t matter much when your co-founder started their journey, how you and your co-founders work together matters most for the success of your business. You and your co-founders should have the same long-term goals, aim, and direction for your startup.
But having complementary skills allows each of you to focus on the areas of your own strength and expertise, resulting in a productive partnership. Although you all should be open to new ideas, willing to pivot when needed, and able to adjust your roles and responsibilities as the business evolves.
To prevent disagreements and power struggles, you and your co-founders can have transparent communication and decision-making processes. Mutual trust, respect, and the willingness to resolve conflict between the co-founders are the foundation of a long-lasting, mutually beneficial working relationship.
Why Cofounder Leaves Startup
Just like other relationships, breakups between co-founders can happen at any stage of your startup. The reason for the cofounder leaves company can vary for the co-founders.
From Apple co-founder Steve Wozniak’s decision to leave Apple Inc to Uber’s ousting of Travis Kalanick, the reasons are countless; we have decided to list the common reasons for this part.