Nobody in the world has Bill’s exact skill set, and looking back on it, that skill set is exactly what we needed
What skill set should I look for?
Nobody in the world has Bill’s exact skill set, and looking back on it, that skill set is exactly what we needed
What skill set should I look for?
I don't have experience with big startups like Paypal or Youtube, but I'd imagine that if multi-founder teams were really a statistically significant determinant of success, there would be more active investment in (revenue-earning) single-founder businesses. The fact that investors seem to shy away from them suggests otherwise though.
So I'm not intending to be critical of your own or YC's activities. I just don't think it makes sense to convince people they need a co-founder just for the sake of having one. And especially not if they've already got some traction and revenue.
Now, I don't think this is necessarily a bad thing; For as long as I've been running my company, I've had excellent people helping me. If you can hire smart, you can get talent cheap. And let's be honest; no other sane person would have stuck with me for the four years I took bringing prgmr.com into profitability. If I had taken on a co-founder rather than just paying people, the company would have died a long time ago.
However, I think that investors might be on to something when they filter me out; I mean, I would have the exact same problems with investors as I'd have with co-founders. (this is causing some problems now that my bottleneck is capital rather than marketing or anything else.)
Back on point, I don't mean to claim investors are irrational. I just don't think the reflexive "get-a-cofounder" drumbeat that is amplified here is really useful. If it were that easy and such an important determiner of success, I'd expect more investors to back single-founder projects instead of shying away from them. It would be a no-brainer to try and grow projects with revenue and traction.
But it doesn't happen. Which suggests to me that finding a good cofounder is a difficult enough problem that telling someone to do it is not useful advice. Or no more useful than just telling them to get customers. That is what seems to help me more than anything.
But yeah, I agree, finding a good co-founder is very difficult, even before you start hitting the co-founder problems that aren't problems when you have employees.
- Has tried a startup before and failed because he didn't have enough tech talent (check)
- Exposed to I.P. law at Stanford Law School (as undergrad)
- Experience cold-calling alumni for donations (for selling) (check)
- Studied economics (check), game theory
- Deep knowledge of fundraising process
- Design, typography, statistics, etc.
So, if you have the technical things covered, I would just concentrate on someone who is completely dedicated to do whatever it takes to be successful. And someone that you trust!
Like sales - the ability to sell is probably the most important non-technical skill for a startup founder. Startups need to sell all the time - to customers, partners, investors, journalists, etc. It doesn't hurt to have 2+ founders who can sell.
Additionally, having two founders familiar in tech and business allows you to become very productive when one needs work over the other. The ability to tag-team and push out work is fantastic, because there is often a lull in one or the other.
You want someone with passion. They should have a skin thick enough that they don't take rejection to heart, but thin enough that 'hear' those who would offer them constructive feedback. They need to be able to concisely articulate your vision to customers of all applicable types (investors, retail, industry), and deduce your next course of action (pivot) from many disparate and incomplete data points.
As for skills, these should complement your own such that the whole is significantly greater than the sum of its parts, and that the whole is just about right for the task at hand. Sorry to be so wishy-washy, but it really is one of those case by case things.