Factors to consider – The aspects that catch us by surprise
INSIGHTS It is not uncommon for cofounders to have a great relationship, until a previously ignored factor changes everything. Suddenly, the entire partnership dynamic has to be reconsidered and reformulated. It is important to think ahead and prepare yourself and your partnership for these eventualities, so that you don’t have to make decisions when emotions […]
Enhancing Your EQ for a Stronger Cofounder Partnership and Business Success
INSIGHTS In the dynamic world of cofounders and entrepreneurs, where ideas are born, nurtured, and transformed into reality, the role of emotional intelligence (EQ) is often underestimated. But, your EQ can be the linchpin to your entrepreneurial journey. This article will explore how improving your EQ can elevate your cofounder partnership and improve your chances […]
Creating company culture – Why you should drive it intentionally
INSIGHTS Company culture is perceived as a reflection of both the founder and the management, whether from an internal or external perspective. It is commonly regarded as a direct result of the values upheld by the founders. Imagine it as entering someone’s home; upon arrival, the decor, organization, hospitality, and house rules convey information about […]
Compatibility in Cofounder Partnerships
What personality traits are the least compatible for cofounding partners?
Finding the a great cofounder is daunting; after all, there is a lot on the line. Especially considering that cofounder disagreements account for 65% of company dissolutions in the early stages, according to Noam Wasserman, author of The Founder’s Dilemma. The best thing you can do to protect yourself from potential business-ruining conflict is to learn what to avoid in a cofounder partnership, as well as being intentional about its management and upkeep.
Can Cofounders Make it Work Despite Different Conflict Styles?
In the high-stakes world of business partnerships, navigating conflicts can be a tricky endeavor. For many cofounder duos, having contrasting conflict styles could spell disaster, but for Frank and his business partner, it’s been a lesson in synergy and adaptability. Frank, a seasoned building contractor known for managing multi-million-dollar developments nationwide, sat down with us to shed light on their unique dynamic.
“I’m an entrepreneur and I live for disruption”
The Cofounder’s Hub has been studying personality traits and how that affects Cofounders in different stages of their partnerships, from good matches, to behaviours to look out for or avoid. By taking the Synthetic Aperture Personality Assessment, you know how you score in 27 different personality traits. The Cofounder’s Hub assesses different personality traits, combinations and pairings to identify points of friction, complementary matches, and areas that require attention.
My business partner is lazy
If you type “my business partner is…” in the google search box, “… lazy” will be one of the suggested auto fills. Those suggestions are based on common searches, so if you’ve found yourself in a similar situation, know that you’re not alone. Having a lazy business partner is a difficulty many cofounders face, but unfortunately, that does not make it easier to deal with. Communication and accusations surrounding perceived “laziness” can quickly escalate into tension and conflict, so you need to have a plan of action before you can take steps to rectify the situation.
Attention-seeking – when a useful behaviour turns sour
You might associate attention-seeking behaviour with children or puppies, but you’ve probably met an adult or two who has also spent too much effort making sure they’re constantly in the spotlight. However, despite what you may think, this might be just the trait you need in a business partner: someone who won’t shy away from public speaking or who can easily command the attention in a room. The truth is, successful attention-seeking adults are usually quite good at what they do. But, there are times when attention-seeking behaviours stem from an unhealthy place or cause strife between partners producing negative outcomes for the business. According to Andrea F. Polard Psy.D., psychologist and author of A Unified Theory of Happiness, here are a few examples of how your partner’s attention-seeking behaviour may be turning sour*.
5 Mistakes You’re Making in Your Cofoundership…
Here’s what you’re missing, though. According to this article, 43% of cofounders are forced to buy out their partners due to differences and arguments. Bullet-proof your partnership so you don’t end up in a messy dissolution. Here are 5 ways cofounders are setting themselves up for failure, and tips on how to avoid finding yourself in the same situation.
The Top 4 Predictors of Success…
Has science gone too far? Find out what researchers have been studying in the world on entrepreneurship and cofoundership, and hack your self, team, and business to give you a solid advantage right from the start.