For most early stage founders, it’s their first time as entrepreneurs. It’s uncharted territory for them in unfamiliar waters and few entrepreneurs get it right the first time.
It’s not uncommon to want someone by your side when it comes to a new business venture. In fact, a lot of those founders start companies together with someone else, rather it be for their support, expertise, or knowledge.
However, something that happens fairly frequently, is that when you have two or more co-founders, inevitably there is something in the company that causes friction between them. The two people who looked to each other for support are now at odds. Maybe they disagree on the direction of the company. Maybe it’s putting the team together. Perhaps, it’s financials. Regardless of the issue, disagreements are inevitable.
When you go into a partnership with someone consider it a type of marriage contract. Anticipate some potential moments of distress and agree on the process that you’re going to commit to if you find yourselves disagreeing. Have a plan in place to solve the disagreement before it gets larger and harder to manage. Having an action plan means less stress down the road. It also means less time arguing and more time focused on the business.
