People need each other and are better together than being alone, because every individual is one piece of the greater whole that is humanity itself.

In specific reference to the startup journey; being a start-up founder is a lonely position. You need that special person to openly share your emotions and problems.

The only person you can be open with is your co-founder.

A cofounder may be part of the vision of a startup from the get-go, or they may be brought on very early by the original founder because they have skills the founder is lacking.

Also, remember that investors tend not to invest in businesses which have sole founders, as the risk of such businesses is very high.

One of the most important initial decisions a founder must take is finding the right co-founder. Similar to life in a marriage, in the journey with your co-founder before embarking on the entrepreneurial journey it is very important that meaningful time is spent in each other's company.

Initially, amongst co-founders, like in all relationships, there is optimism and camaraderie. Like in any relationship, co-founders too need to figure out their space and comfort zone for the smooth functioning of a company.

Like in a marriage, honesty and the ability to share thoughts with each other is critical. This journey is fraught with hardships and co-founders must feel comfortable enough to discuss everything with each other. This transcends matters related to the start-up and they must also be able to discuss personal issues.

It is exceedingly important that they be able to discuss the triumphs and tribulations of their lives with others. In short, there should be no surprises to one another, as it would jolt the relationship and therein impact the start-up adversely.

The alignment of values, dreams and ambitions is critical, but it isn't enough for a start-up marriage to succeed. One of the key questions that needs to be addressed right at the inception is why he/she wants to get into entrepreneurship? Different people have different motivations for getting into business. Hence, you need to choose carefully while taking on a co- this journey or selecting the A-team. Co-founders need to have objectives for successfully embarking on the entrepreneurial journey.

It is not unnatural, that gradually both the founder and the co-founder start to notice the shortcomings in each other. Relationships may begin to get strained.

One tends to go for co-founders who are mirror reflections of oneself, as this provides some personal comfort. But having a co-founder who is identical is fraught with problems. The clash of egos and personae as well as the overlap in skillsets and rolodex become friction points, even among the best of friends.

Among co-founders, it is all fine while the going is good; but despite the best intentions, co-founders can drift apart. This happens more so, when companies scale up and there are full-bloom executive teams. Some co-founders want to return to the start-up world and not run larger enterprises.

Tech founders, like Paul Allen of Microsoft or Apple co-founder Steve Wozniak had left the companies they had co-founded and nurtured for similar reasons.

In this context, it is important to have pre-nuptial co-founder contracts. At the time of founding, this is something that is not in the minds of the co-founders. In fact, I insist on this. This protects everyone and most of all, the company. During the hard discussions driven by company lawyers, co- founders get a peek into what the future might hold for them.

I couldn't stress more upon the importance of a strong foundation for startups. One of the most important pillars of this foundation is the relationship between the members of the founding team. There are numerous instances where irreconcilable differences between the members of the founding team have led to the eventual erosion of the value of the company.

The risks in running a start-up are very high. Running a company is difficult; there are just too many things happening and you need as many hands on the deck as possible and having co-founders helps in the operations of the business. Sharing ideas and experience is of importance in operations.

The complementarity of co-founders in terms of skillsets and mindset is key. One can be, for instance, gregarious by nature and a social creature, while the other one is the quieter one who absorbs all data points before giving their opinions. Emotionally they should ideally complement each other. Their 'jugalbandi' has a cooling impact on the investors and the executive team around them, and has helped to scale up the business in the face of competition and adverse market conditions. Personalities and backgrounds could be very different and also the skill-sets.

One can be far from a detailed person when it comes to any commercial or shareholder contracts. The other, on the other hand, goes through contracts with a hair-comb. There is no question of territorial power, but complete faith and understanding in what the other co-founder brings to the table.

Another important aspect of the co-founders' relationship are the roles and responsibilities. In the initial days of the start-up, roles and titles do not matter, as everyone is involved in everything-from defining the product-services-solution, making the sales call, setting up the investor deck and meeting, managing the hires-they are joined at the hip.

Slowly, as the company grows and newer members join the team, it becomes crucial for co-founders to clearly demarcate the roles and responsibilities. Doing so provides a clear direction to the co-founders and also gives a sense of purpose to the team.

One of the tasks co-founders, especially those who have been friends and are from a similar age group, struggle with is to define who will be the CEO of the business. This isn't easy, as CEOs need to be the first among equals. All co-founders have similar share-holding and contribute equally with their blood, toil, sweat and tears, yet only one is designated as the CEO. I would recommend that the CEO decision should be sorted out before you venture out to meet investors. It is always beneficial if the decision is unanimous rather than forced by a third party.

A simple way to solve this is to select the person who exhibits leadership quality. No one, especially among the co-founder's team, will listen to a CEO unless they are the clear leader and set the strategic agenda for the start-up.

However, like always, there are successful exceptions to this rule. The founders can decide not to have designations like CEO. This allows the core team to solve problems without artificial constraints that come with role definitions. Essentially it allows for less interweaving. By not having titles and turning on a high level of trust we can move in parallel. This could become one of the significant reasons for astounding scaleup'. Since all founders have worked together, they understand each other's strengths and weaknesses.

The traditional structure creates a unidimensional leadership. No single person has all the required capabilities to solve a problem. When you, as a leader, are making decisions about things that you do not understand, there are moments when it will be okay because you have trust, but there will be moments when a decision is being taken because someone says so. And this tends to happen when there is a very fast-moving, high-pressure setup. We think, let the right person take the decision. There are times when asking someone much closer to the customer to take a decision was the best decision the organization has ever taken.

Having a complementary and compatible spouse does not mean you will raise a good, successful, and happy child, but it does increase the chances. So, also is the case co-founders and start-ups.

In conclusion, choosing the right co-founder lays the core foundation of the start-up. Ensure your co-founder has the same vision and motivations for the entrepreneurial journey. Complementarity in skill-sets and emotional makeup is key to a successful relationship. There needs to be a clear 'first among equals' within the co-founders. Have formal legal documentation between co-founders covering all aspects including breakups.

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