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Finding the right co-founder, a lesson in teamwork

In my years in business, I’ve found one thing to be consistently true: You’re not good at everything. That’s not always easy to accept. Nor is sharing a business or project with another partner or business. But there comes a time when you must realize that spending two or three times the effort to turn out a product that is not nearly as good as it could have been is ridiculous. It’s costing you, and recognizing that you aren’t the master of everything starts with finding yourself the right co-founder.

Undoubtedly, your business is something you hold dear to your heart, your ‘baby,’ if you will. It’s hard to share this baby. You want to be the one to nurture the accounts and make the sales and coordinate marketing efforts and everything else that’s thrown in your lap. You want to retain that sense of ownership. And you should. It’s your baby. But sharing the responsibility for caring for that baby will help ensure that your baby keeps growing.

Early on I recognized I had a passion for sales, and I was good at it. What I was never good at was being a behind-the-scenes, financial guy. I’m not an accountant. And I realized that if I continued to pretend I knew everything there was to know about business finance, that my companies would not succeed. It’s not fun to have a company fail. It is fun to have an awesome partner who can match their strengths with your weaknesses, and vice versa.

Not everyone needs a partner. Some businesses are small enough that there isn’t much responsibility to be shared. Most businesses are going to need a combined effort to continue to thrive. You simply cannot keep the books, churn out quality services, and continue to make new connections and nurture existing ones all by yourself. Finding key partners and founders can be a key determinant in a business’ success or failure.

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About Randall L Minchew

Randy Minchew has been a member of the Columbia area business community since 1994, and has been labeled a serial entrepreneur by many. He is forward thinking about business and understands the importance of utilizing an online presence for businesses and is the Owner/Partner/Founder at Swift Companies LLC, The Missouri Golf Post, Innovatd LLC, Pebble…