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What was your experience in bringing a cofounder on board?

By Peter Vandendriesse
January 23, 2018

Clearly, having a cofounder (and one with the same passion as you) is extremely valuable. But sometimes, you just don't have a cofounder. I don't have a cofounder. But I might want one.

Has anyone gone out and found a cofounder after you were well on your way with your project, and if so, how did that go?

Did you utilize a vesting schedule of equity/responsibility? Ultimately, I'd be more than willing to have an equal split equity share with a cofounder, but I'm imagining it would be difficult to find someone willing to jump in with both feet right away.

Peter Vandendriesse's avatarPeter Vandendriesse
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  1. 6

    I've had good and bad experiences so far and made some painful mistakes. Here are a few of my lessons learned:

    • Always include a vesting schedule - standard 4 or 5 year vesting with a one-year cliff works for me
    • Be very clear and upfront about the way you expect the relationship dynamic to function. If you want to be the CEO later, make that clear from the beginning. Even if it feels awkward.
    • Try to work with a cofounder who you have worked with in a work/team environment before. Ideally, you've been in a tricky situation together or have fallen out before and then carried on working together. You don't want to have to tiptoe around each other when the going gets tough (and it will).
    • Be fair with equity and other compensation. It doesn't have to be a 50-50 split, but I doubt you really want a cofounder who doesn't bring enough to the table for you to want to give them at least 30%...
    • Bear in mind that there's a good chance it won't work out, probably pretty early. That's ok. Include some cash incentive as compensation for the cofounder just in case you do kick them out after 3 months (leaving them with no equity). If the tables were turned, I'm sure you'd appreciate the security as well. This cash could be paid out at a much later date.
    • Try to avoid remote at the beginning. Talk every day and make sure you are on the same page regarding big picture stuff. Check this more often than you think necessary.
    • Try to avoid a complete stranger as a cofounder. If unavoidable, work together on a small project (maybe coding together for an afternoon) before jumping into something new together
    Louis Nicholls's avatar Louis Nicholls
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    9 years ago
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    1. 2

      This is extremely insightful, thank you!

      Peter Vandendriesse's avatar Peter Vandendriesse
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      9 years ago
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  2. 2

    Good topic! Curious about this as well. I have been going at it alone for quite a while and have often wondered whether I should actively look for a cofounder. I tend to go back and forth. Having a cofounder might be a good thing for certain people in certain situations, but it's definitely not an absolute truth that having a cofounder increases your changes of success.

    Matt Naus's avatar Matt Naus
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    9 years ago
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