Effective collaboration is a cornerstone of successful companies. Alignment between founders and co-founders on crucial aspects such as financial strategies, annual goals and core team values is essential for long-term success. In a recent post on
In a viral post, Mr. Goel made this statement: “For example, if you come from a small middle-class family, an outcome of Rs 5 crore can be huge for you. However, if your co-founder comes from a wealthy business family, it could be peanuts for them. This could lead to a big difference in vision/result.”
Mr. Goel further emphasized that mismatched financial targets can hinder crucial decision-making, especially when it comes to customer selection. Imagine two co-founders with completely different financial ambitions. You might see a customer offering Rs 25 lakh as making a significant profit, in line with their goal of earning Rs 1 crore annually. However, the other co-founder, who is targeting a turnover of Rs 25 crore, might see the same deal as insignificant as it represents only 1% of his target. This disparity in financial priorities can lead to conflicting decisions and hinder the company's growth trajectory.
“Whether or not they pursue this client will become a matter of how big of an outcome the founders are looking for. Differences in appetite can lead to friction when making this decision. Friction leads to conflict with co-founders. Conflicts with co-founders are the easiest way to end a business,” he added.
See the message here:
When looking for a co-founder, look for someone whose definition of success is similar to yours. For example, if you come from a small, middle-class family, an outcome of Rs. 5 crores can be huge for you. However, if your co-founder comes from a wealthy business family, for example…
— Aman Goel (@amangoeliitb) May 2, 2024
The post was viewed more than 25,000 times on have lifestyle challenges in a year.”
Another user wrote: “This is good advice, Aman. I was recently aware of a falling out between the co-founders precisely because life expectancies don't match.”
“How about your co-founder only chasing bigger customers, who could achieve 5 cr on 5 customers versus 5 cr on 20 customers. Five customers are easy to manage, easy to build, and easy to sell to,” noted the third user.
The fourth user wrote: “Makes sense. But opposites attract – wouldn't we also want someone with a different PoV so they can bring a different perspective to the table?”
“Your posts are very insightful. I have never seen you hesitate to share your pearls of wisdom with others. This will be extremely helpful to many budding entrepreneurs. I admire you for this and wish you much success and a good future. Thank you,” the fifth user commented.
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