Having a Trusted Co-Founder May Be the Secret to Forming a Successful Business, Says Brandon Frere

Co-Founders of a New Company

Forming a business with multiple founders introduces the possibility of losing the company due to arguments and creative differences, so why have them at all? Forming a company as a solitary founder may be a nimbler, safer option compared to multiple founders if there is no one that the solitary founder can rely upon. If there is a reliable option, an additional founder often helps by providing an alternative perspective, candid feedback, and emotional support. In addition, having multiple founders allows each to bring their own expertise to bear on the problems a company usually faces. A company founded by someone who makes sound business decisions and someone who makes brilliant technology may survive over a business which has only one of these specialties. For these reasons and more, Brandon Frere, successful entrepreneur and founder of Ameritech Financial and other ventures, recommends that entrepreneurs partner with at least one co-founder if they have someone they trust to fill that role, despite the potential risks that come from working with someone else.

“The founders will argue over details, that’s a given,” said Frere. “What matters most is that there are co-founders who share a unified vision, do not compete for the same role, and who are candid with one another and can actually listen to that candid feedback, no matter how hard it is to listen to.”

The relationship between founders has to be able to withstand the heavy problems that come from disagreements. If co-founders have known each other for a long time their company is less likely to fall apart since they are used to resolving their differences. Likewise, if two entrepreneurs meet up at a convention and decide to get a company started because they are both interested in the company, that relationship is risky as there is no unity of vision at the start or history of resolving differences and persevering.

It’s important that the founders have a solid foundation for their relationship and agree on the same vision. If one founder wants to go public and sell their company and the other founder wants to direct the company without the influence of investors, the two will probably lead the companies in different directions. This sort of diversity of vision has a chance to lead to constant arguments about what to do on a fundamental level. If both founders agree on the vision, then the two may disagree over how to execute upon that vision, but they should debate over the what and the how, not the why or the vision. Those arguments may be a compelling reason to have a partner. A diversity in backgrounds can cause debates that lead to an interesting third option created by combining different ideas together, providing the vision isn’t compromised.

A difference in vision and understanding may be the greatest argument against too many founders in a given company. Early on in a company’s creation, everyone will need to know everything about the company while moving as fast as possible. Until it is obvious the company will succeed, there is no reason for a company to sacrifice flexibility for communication, rigidity, and unity of process. For this reason, it may be best to have multiple founders, but only as many as necessary to keep adapting to the market until there is a product-market fit.

“If there are multiple founders within the company they should be unified in the company's creation and dedicated to the long haul,” said Frere. “Having multiple founders who can support one another while contributing a wide variety of new ideas to the development of a company can lead to a lot of debate, but I firmly believe it is worth it if one chooses the right partner.”

About Brandon Frere

Brandon Frere is an entrepreneur and businessman who lives in Sonoma County, California. He has designed and created multiple companies to meet the ever-demanding needs of businesses and consumers alike. His website, www.BrandonFrere.com, is used as a means of communicating many of the lessons, fundamentals, and information that he has learned throughout his extensive business and personal endeavors, most recently in advocating on behalf of student loan borrowers nationwide.

As experienced during his own student loan repayment, Mr. Frere found out how difficult it can be to work with federally contracted student loan servicers and the repayment programs designed to help borrowers. Through those efforts, he gained an insider’s look into the repayment process and the motivations behind the inflating student loan debt bubble. His knowledge of the often confusing landscape of student loan repayment became a vital theme in his future endeavors, and he now uses those experiences to help guide others through the daunting process of applying for available federal repayment and loan forgiveness programs.

BrandonFrere.com

Source: Brandon Frere


Categories: Entrepreneurship

Tags: co-founder, federal student loans, income-driven repayment, small business


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