I now have officially started two businesses.
4 years ago I started a cleaning company and now in the next month, I will be launching an STR PM company with 2 other co-founders.
Let me share a couple of my learnings going from a solo founder to co-founder
🧵
4 years ago I started a cleaning company and now in the next month, I will be launching an STR PM company with 2 other co-founders.
Let me share a couple of my learnings going from a solo founder to co-founder
🧵
1/ Transitioning from being solo to multiple business partners makes me spend a lot of my time thinking...
like literally just sitting/walking and thinking.
I also spend a ton of time doing self-reflection and trying to be as self-aware as possible.
This is on my mind...
like literally just sitting/walking and thinking.
I also spend a ton of time doing self-reflection and trying to be as self-aware as possible.
This is on my mind...
2/ Keep silent, listen, reflect and then speak.
When you are a solo founder you can be the leader all day and no one will question your judgments or actions.
When you are in a room of 2 other founders you really need to learn to sit back, listen, learn, reflect, and then speak
When you are a solo founder you can be the leader all day and no one will question your judgments or actions.
When you are in a room of 2 other founders you really need to learn to sit back, listen, learn, reflect, and then speak
3/
9/10 times people just want to be heard and you as a co-founder need to be aware of that. Even if you are in a leadership position, take a step back and just shut up.
Trust me.
You aren't making decisions for yourself anymore. Yes, this is obvious... "Duhhhh"
But...
9/10 times people just want to be heard and you as a co-founder need to be aware of that. Even if you are in a leadership position, take a step back and just shut up.
Trust me.
You aren't making decisions for yourself anymore. Yes, this is obvious... "Duhhhh"
But...
4/ it isn't so obvious sometimes...trust me it's easy to forget.
Even if it's a decision that may not matter much to you. You need to remember that it could matter to someone else.
You are better off asking for your co-founder's thoughts.
Even if it's a decision that may not matter much to you. You need to remember that it could matter to someone else.
You are better off asking for your co-founder's thoughts.
5/ The last thing you want is to have someone feeling like their decisions and opinions do not matter.
Accountability and Communication
As a solo founder, your role is many many different hats.
But, IMO with multiple co-founders life can be much easier so don't take that...
Accountability and Communication
As a solo founder, your role is many many different hats.
But, IMO with multiple co-founders life can be much easier so don't take that...
6/ mentality into this type of structure.
Now, this does depend on # of people but speaking on my situation we have pre communicated the roles in this business.
Everyone has accountability. Accountability creates success.
We have accountability with individual roles but...
Now, this does depend on # of people but speaking on my situation we have pre communicated the roles in this business.
Everyone has accountability. Accountability creates success.
We have accountability with individual roles but...
7/ we are also aware that sometimes multiple hats will need to be worn.
You as a co-founder need to be as transparent as possible. Like literally everything needs to go on the table.
You as a co-founder need to be as transparent as possible. Like literally everything needs to go on the table.
8/ Just Start and Iterate.
We all understand this is starting a business and we do not expect to all be perfect out of the gate.
Start, make mistakes together, reflect, discuss, and make improvements.
We all understand this is starting a business and we do not expect to all be perfect out of the gate.
Start, make mistakes together, reflect, discuss, and make improvements.
9/ Remember this process should be much easier compared to starting a business solo.
Final thought...
Transparency.
Don't hold thoughts back because resentment builds over time.
Final thought...
Transparency.
Don't hold thoughts back because resentment builds over time.
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