What does it take to begin a super-successful enterprise that might at some point hit that billion-dollar valuation mark?
An incredible concept?
An insane work ethic?
The power to learn markets and perceive shopper wants and wishes?
The reply is all the above.
However there’s one other factor to contemplate: 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 turn out to be the CEO of a startup unicorn, are you able to do it on their own or do you want a serving to hand from a number of co-founders?
That’s the large query OnDeck determined to unpack in its newest research on entrepreneurship.
Utilizing knowledge gathered from enterprise leaders and specialist on-line sources, it breaks down all the pieces it’s essential to find out about beginning a enterprise with a co-founder or going solo.
The research outlines a number of the large knowledge 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 sooner than startups run by a single particular person.
- Practically 15% of start-ups with a single proprietor fail as a result of the founder doesn’t have the talents or information to do all the pieces themselves.
Partnering with a co-founder may be the best choice if you wish to plan for long-term enterprise success. However that doesn’t imply it’s an straightforward possibility.
Ego clashes, fairness splits, and energy struggles are only a few of the issues it’s essential to navigate when working with a co-founder.
That’s why OnDeck added a breakdown of the most important co-partner challenges, together with learn how to overcome them.
And for those who nonetheless resolve to go alone, then this research has acquired you coated. The final part is a step-by-step information on what to anticipate and learn how to succeed when operating a enterprise as a single founder.