I read every business book. And they all said don’t start without a co-founder. So that’s what I did. I launched my first company a year out of college, as soon as I convinced one of best friends to join as my co-founder.
In the moment, I was ecstatic. I had a great idea (at least I thought so), and was ready to a build a product with a talented friend who I trusted. Awesome!
But within a couple months of working together, it became obvious that we weren’t the right balance of complementary skills, nor passion. We pushed on for several more painstaking months together before going our separate ways. Having taken a major hit to our ego, and our long-standing friendship, we stopped talking to each other (thankfully we’re great friends now) and both went on to new startups.
Fast forward two years, and there I was again. 25 years old and stoked to launch a new company. But this time, I made a critical choice. I decided to ride solo. No co-founder. No team. Just me and StorkStand, an idea I was convinced could improve people’s health in the office.
So… here are five important lessons I’ve learned in the last three years as the solo founder of StorkStand. It ain’t all pretty, but it’s honest.
Trust is a Skill That Must Be Practiced
We don’t all grow up with trust. In fact, many of us grow up with the exact opposite. For much of my life, my first question was always, “What does this person want from me?” or “How are they going to screw me over?” I was obsessed with figuring out if someone was a good guy or bad guy. And that’s a difficult obsession, because you are constantly waiting for things to go bad, even with the good guys.
Trust is something that is first established on your own. Before you can trust others, you must trust yourself. I can’t emphasize that point enough. You cannot build your dreams without others. But you can never fully accept the help of others, if you are not open, yourself. And that is a skill you must be willing to develop and practice every single day. Fear cultivates mediocrity. Your goal is always better. That starts with yourself.
Play the Long-Game. But Do It Quickly.
Early on in my career as a product designer, I adopted the Lean Startup methodology: iterate quickly and test often. But when it came to making bigger decisions about the direction of my company, I became a procrastinator. Well, it wasn’t that I ignored the issue, it was more that I wanted to find the perfect solution before taking any step forward.
This is where a co-founder typically comes in; when you’re trying to make an important decision, and may simply just need a second opinion. Therefore, void of a co-founder, it may literally take me a week to make a decision that could have been made in a matter of minutes with the help of a trusted second opinion.
This definitely goes back to my previous point of the importance of trusting yourself. If you don’t have a co-founder bringing a constant source of new perspective, then you have to be able to take a step back, look at the long-game, and make quick (but educated) decisions. The company is on your shoulders, you don’t have the time nor energy to not make a decision.
Your Spouse is Your Co-Founder
Your boyfriend. Wife. Roommate. Significant other. They are going to be a part of your company. In a big way. Whether they/you like it or not.
They may not be involved in the day-to-day operations, but they will be involved as soon as you finish the work day. And if you have ever been a founder, the workday rarely, if ever, ends.
So show love and respect to your significant other by having an honest and real conversation with them about what you are trying to do, your fears of failing (we all have them), what you think may cause you to fail, and how they can help you. Constant and honest communication with your loved ones is not optional. It’s essential. You are at the start of a multi-year journey. Involving your significant other from the start will make the lows a lot more manageable, and the highs a lot more enjoyable. They want to help, it’s just not always easy to know how.
Get a Mentor. Or a Therapist. Or both.
You need someone outside of your family to support you. Someone who has ideally started a company and been in the exact same position.
Great professional mentors are hard to find. But they are worth it. I suggest going to Meetups and simply connecting with people who have built companies you truly admire. Just write them an email, or connect on LinkedIn. You’d be surprised how many people want to help, when you’re being true and honest with your intentions, and you show that you’re willing to do the significant amount of work it takes to be a great mentee.
Finally…Investors Are Wary of Solo Founders.
It’s the sucky truth. To investors, they may think there’s a reason no one wanted to start a company with you. Your idea isn’t interesting enough to get people on board. Or maybe you’re not a team player. Whatever they tell themselves, investors see solo founders as a liability, because if you make a mistake and pack the parachute incorrectly before you jump out of the plane, there’s no co-founder to keep their money safe on the ground. Just know it’s going to be hard to raise money as a solo founder. Even if your numbers are on point.
So, if you are thinking of launching a company and doing it solo, you have my 100% respect and support. Truly. I am doing it. It’s been hard. And I recommend it. My only request is that you make sure you’re being honest…really honest…with yourself.