What is one tip for deciding who does what when you have multiple co-founders?
The following answers are provided by the Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
1. Determine the Probability of Success
“Whenever we have a big decision to make, we always consider what the probability of success would be if I or my co-founder did it – whether it is a project or sales meeting. The important thing is to make sure that each one of you is accountable. Failure to do that will put stress on the organization and the team.”
2. Establish a Back-Up Plan
“Deciding who does what should happen in the very early business stages and be followed up with documentation. After an open dialogue, write down specific responsibilities and areas of purview for each founder. Then, add provisions that specify what actions will be taken (and by who) in case the founders aren’t doing what they’re supposed to be doing.”
– David Ehrenberg, Early Growth Financial Services
3. It Should be Obvious
“The best co-founders have complementary skills. If it isn’t obvious what one co-founder should be doing verses the other then it’s likely you have the wrong co-founders.”
4. Try Everything
“Co-founders who bring similar skills and experiences to the table should try their hand at different tasks within the company to see how they actually perform. You never know if you have the potential to be great at something until you’ve tried it. After doing everything the business needs you to do, you start to realize which tasks you like or dislike too.”
5. Use the “Zone of Genius”
“In his book “The Big Leap,” Gay Hendricks discusses the zone of genius and we’ve adopted that phraseology at RTC. My COO and I have definitive zones where we play at the level of brilliance. We have shifted the workload into each of those zones. I cover sales and new initiatives, and he runs operations and accounting. I’m responsible for our core value of brilliance, and he leads with love.”
– Corey Blake, Round Table Companies
6. Ask What You Want to Do
“Too often, we focus on what each person is best at, and that’s often a great strategy. But, it’s sometimes just as important to ask what each person wants to do. Ideally, they’ll be the same thing, but even if they’re not, it’s often beneficial to allow people to work on what they’re inspired by at the moment. Everyone will be happier, work harder and avoid burnout. “
– Alexis Wolfer, The Beauty Bean
7. Decide in Advance
“When you’re starting a company, you have to define the roles for everybody. When decision making is organized, each founder has a say in a particular area. When it comes to that area, that founder’s expertise should reign supreme.”
– Russ Oja, Seattle Windows and Construction, LLC
8. Focus on Natural Skill Sets
“Businesses have to have seven different key functions to operate well: executive leadership, finance, HR, marketing, public outreach, internal communication and technology. Having partners focus on the areas where they’re naturally strong provides you with the best opportunity to succeed. When you try to force people into operating areas that don’t fit, you create inefficiencies and unnecessary frustrations. “
– Raoul Davis, Ascendant Group
9. Consider Past Experience
“When delegating tasks among co-founders, you should always be critical about each founder’s skill sets and past work experiences. If you and your business partners focus on your respective core skills, your business has a higher chance at success. Compare strengths and weaknesses, and delegate from there. Delegating based on past experience ensures that there are more efficiencies and a higher level of credibility with early employees, investors and customers.”
10. Choose Founders Based on Complementary Skills
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Choose your co-founders so that you all have complementary skills. If you have chosen founders wisely, then this is never a question. Everyone naturally falls into the work that they are naturally more suited for.”
