Cofounding a business has several benefits because by combining resources, knowledge, expertise and motivation, cofounders can often build something far more successful together compared to going solo. Nevertheless, 70% of startups fail because of disagreements between founders.
Why? Because cofounding isn’t as simple as drawing up an agreement and shaking hands on it. Get your cofounding team right, and you’ll be in the best possible position to handle any challenge that’s thrown in your direction. Get it wrong, and not even the best business idea will be able to survive. So why not to maximise the chances of your company to succeed?
Partnerships make sense. They create more innovation, growth and prosperity than any solo. They just seem very hard to get right.