Dear SaaStr: When interviewing a co-founder, what are some of the things you look for/look out for?
Don't pick a cofounder that
– has something better to do
– wants to see how it goes
– has a clear backup plan
– sees it as risky
– argues over who should be CEO
– doesn't 100% believeYou'll see
— Jason ✨👾SaaStr.AI Sept 10-12✨ Lemkin (@jasonlk) September 6, 2024
Look for:
- Someone great at something core you aren’t: Sales, Engineering, Marketing. Great at sales. Great at engineering. Great at marketing.
- Someone you want to work with for a decade. You have to go long in SaaS.
- Someone that wants it as bad as you do, and for the right reasons. Otherwise, when it gets hard — and it will — they will leave. Or step back.
- Someone ethical that you share core values with. Yes, it really matters. You are going to be challenged so many times, in so many ways.
- Someone better than you. If you both believe that, magic can happen 😉
A truly great co-founder is someone that always adds real value, takes true ownership of the outcome and the mistakes, and …
That you can count on to never ever quit, no matter what comes
— Jason ✨👾SaaStr.AI Sept 10-12✨ Lemkin (@jasonlk) August 13, 2024
Worry about:
- Short-termers. Folks that just want to make enough to buy a house. Or folks that just want to try it out for a while. They always quit.
- Folks that want to do something else on the side or at the same time. Never works out in the long run.
- Folks with too similar a skill set (not always, but often). If neither of you can code, well … you gotta find someone that does. If neither of you wants to hustle to get customers … well who will?
- Folks you just met. It can work, see e.g., Dropbox. But if you do this, at least agree to a real cliff in your vesting.
- Settling. Don’t settle in a co-founder. Find someone you truly believe in and love. If you can’t find that person yet, push on.
I'm stepping down as co-CEO of Atlassian after an incredible 23 years. I'm so grateful to everyone along this journey. https://t.co/aA0oAD1aKh
— Scott Farquhar (@scottfarkas) April 25, 2024