Jana Nevrlka is the founder of Cofounding, a Swiss-based consulting company focused on supporting founders and investors. Jana is a board member, lawyer, mediator, entrepreneur and author of what many describe as the best guide for founders on all the cofounding questions they usually struggle with - Cofounding The Right Way. She works with founders, universities, academic spin-off programmes, incubators, accelerators, investors and investment funds all over the world. She developed and coordinates the implementation of dynamic equity split (based on the slicing pie methodology) throughout Europe.

In this Masterclass she shares some tried and tested ways to find a co-founder with whom you can build a company long-term. 

Challenges and Team Building:

• Building a business as an entrepreneur takes perseverance and can be challenging
• Being a solo founder statistically has higher chances of success, but it's important to have a team and not be lonely in the journey
• The ideal person for startups should have some similarities with you but also different personality or motivations
• Compatibility of skills, networks, and attitudes is important in building a team
• Common values are essential in a company and should not contradict each other
• The number of co-founders can vary, but 3 to 5 is a typical range.
• Diversity in backgrounds, culture, and expertise is important when finding co-founders.
• Optimism and commitment are key traits to look for in co-founders.

Mentors and Advisors:

• Having a mentor can be beneficial, but it's important to ensure they have something at stake and bring essential resources.
• Advisers and consultants should be approached with caution.

Finding Co-founders:

• Cheap labor gigs should be avoided in favor of equity to prioritize finite resources.
• Friends and family are more likely to start a company, but there can be challenges in the business relationship.
• Co-founders can build trust and commitment remotely, but it can be harder than in-person.
• Utilize platforms, networking events, and headhunters to find co-founders.
• Start looking for a co-founder early on, but be cautious about bringing on commercial founders too soon.
• Use interviews and references for assessment and have trial periods to evaluate potential co-founders.
• Reflect on your own qualifications and ask questions when searching for a co-founder.
• There are no simple answers or magic formula for this. You just need to follow the broad guidelines

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Ownership and Legal Protection:

• Consider the right funding for your venture.
• NDA alone does not guarantee protection of ideas.
• Clarify commitment and contributions with co-founders.
• Proper interview selection and clear objectives are important in finding the right co-founder.
• Setting the intention and context is important for the assessment process.
• The decision of who becomes the face of the company and represents it in the media depends on finding the best person for the role.
• The timing of discussing ownership and IP agreements can vary, but it's important to clarify assumptions and seek legal protection.
• Limited resources and time should be considered when seeking legal protection for startups.

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