Can a Company Have More than One Founder

If a startup has both a founder and a co-founder, it probably means that the founder was the original creator of the company, while the co-founders were added later. For example, many startup founders have a great business idea, but need a technical co-founder who can help with its implementation. These people are therefore looking for potential co-founders who can complement their skills. Serial entrepreneur Tanis Jorge explains: «You will always be a founder or co-founder, and your title will change.» However, be careful how you distribute founder/co-founder designations. This should be a lifetime title, so make sure it goes to the appropriate people who played a crucial role in starting the business and will continue to be so in the future. If you want to hire someone to run your startup (for example, if you`re a technical founder), another alternative is to give yourself the title of president. «If you`re starting a tech startup, the co-founder should have technical training if you don`t have it,» says entrepreneur Rui Delgado. This saves you a lot of money when booting and ensures that you deploy a great product as soon as possible. Ideally, both founders have technical skills. Engineers are brilliant minds and can often maintain business contacts as easily as developing code. An investor`s dream team consists of two engineers, one of whom has great communication skills. What criteria do you use to select the right co-founders? R. Paul Singh is the founder of DocSync.Net, a mobile document management company.

We answer these three questions and six others in this breakdown of everything you need to know about founders and co-founders. If you are not willing to enter into a start-up agreement, you still need to enter into a written agreement. What is the difference between a founding member and a co-founder? However, when a word is repeated over and over again, it is actually just the form that is repeated. There is no sentence, so the function of the word is eliminated. Moreover, its meaning is effectively eliminated because there is no context. A few repetitions leave intact the memory and expectation of the language user: he remembers the meaning and expects a meaningful reference. However, continuous repetition will increasingly bring the form of the word to the foreground, excluding function and meaning, until the word literally «has no meaning.» It is not the word that repeats itself, but only one of its aspects: the word form. Can I fire a co-founder? A company is a separate entity from the founder, and this relationship becomes even more separate when external funds are raised. If one of the co-founders doesn`t appear or is disruptive or unethical, you should definitely consider getting rid of them. However, never do it for the wrong reasons, such as depriving co-founders of their equity. If you end up firing a co-founder, please do so with dignity. Everyone should be able to preserve their dignity.

Another difference between «CEO» and «founder,» according to Pietri, is that one is a permanent position, but the other is not. Life comes, so when people get married, get sick, get bored, or quit, they may be able to leave with valuable fairness. If they haven`t interfered in the business, that`s a big problem. This can happen with two founders, but the probability becomes a certainty if there are more than three founders. There may also be situations where one of the co-founders would be the natural CEO, but the co-founders want to remain completely equal partners, whether to ensure that the voices of both co-founders carry the same weight, or to avoid the embarrassment of making one co-founder the boss of the other co-founder. Do I need a co-founder? How do I choose one? What should I do if the relationship doesn`t work? It`s not the only way to do it, but it`s something I thought was justified. Ask yourself, «What is a co-founder» or «What`s the difference between founder and co-founder?» In this article, we explain the main distinguishing features. If you type and/or pronounce the word founder ten times, it loses all meaning. Investors who merely provide equity should not be considered founders. A clear line must be drawn and maintained between founders and investors. Most of the time, investors who get the founder`s authority simply interfere with the company. Investors make decisions that aren`t always the best thing for the startup itself.

This does not benefit founders or long-term investors. When looking for a co-founder, serial entrepreneur Tom Williams advises sticking to your networks. «I`m not convinced that two people can discover someone they`ve never met before and become great co-founders. Williams adds, «I think it`s more important to acquire the funds to recruit someone than to find a co-founder. What is the main reason? You`re unlikely to meet someone who is as excited about what you do as you are. Verbal agreements are not enough. My co-founder and I entered into several verbal agreements at the beginning of our partnership. When Feel Free was faced with more difficult decisions, these verbal chords failed. A founder is someone who comes up with a business or startup idea and then turns it into reality. Founders can start a business on their own or with the help of others. Larry Page, for example, is one of the founders of Google. «I`m not at all convinced that two people can find someone they didn`t know before and become an effective co-founder,» Williams says.

«I think it`s better to find the money to hire someone than to find a co-founder. The main reason? You probably won`t find anyone as passionate about what you build as you are. And remember, I have no idea who you are or what you`re building, so it`s not a judgment on you or the idea, just the reality I`ve observed over 20 years of startups. «Now that you know the differences between all these terms, it`s time to focus on the essentials. Most important: How to choose the right co-founder? The first thought you should make is to find out what skills you are missing. If you are an engineer, you may find a designer. If you are a type of idea, you will definitely find an engineer and a designer. If you already have engineering and design under your belt, look for someone who is really skilled at marketing and managing people.

How can you protect your startup from co-founder conflicts? Finally, Pietri says one should be careful when immediately jumping to the «co-founder» when there are other options. Of course, some disagreements are inevitable. Startup founders are just people, and their goals, methods, and talents will almost always be markedly different from those of their co-founders. The advice that startup founders give in this context is as follows: Of course, only one person can act as both founder and CEO, especially in the early days of the startup. However, when the company is mature, the founder often takes a back seat and passes the reins to another CEO. Matthew Stanfield, solo founder of BagIQ.com. I recommend one, two or three founders, the ideal number being two. Unlike the CEO, the status of «founder» does not grant a person any formal authority within the company. In fact, many founders separated from the company they founded after disagreeing about the direction of the company.