A startup team must be determined in order to become successful. How many co-founders should you have? What skills do you need to have on your team? This article will explain the ideal startup team, and how many co-founders are needed based on each role of the business.
One Person Creates the Idea
If you want to start a business on your own, then it’s up to you to create an idea and implement it. This can be tough but also provides you with full control over your company and what it stands for. If you have a clear vision of what you want to achieve, starting your business will be easy. As an entrepreneur, you’ll need to be ready to manage all aspects of your business by yourself.
Two People Build it (One Is Necessary, but Not Enough)
While building a startup, having a team of two makes it easier to motivate each other and divide responsibilities. One person can handle sales and marketing, while another oversees finances and technology. This is often enough for an early startup. In fact, some of Silicon Valley’s biggest names have started with just two people.
Three People Pitch it
Having three co-founders is sometimes ideal. It’s generally easier to divide and conquer when there are multiple people running different areas of a business. This model, however, does come with challenges. Managing three founders can get unwieldy if they don’t all share a similar vision for where they want to take their business. The best solution? Ask yourself whether you have an idea so compelling that it could bring together three driven individuals who might not naturally gravitate toward one another on their own.
Four People Set Up Your Business
Maybe one of you will end up doing all of these roles, or perhaps you’ll need to bring on an employee down the line. But for now, think about which tasks could be handled by each of you if you were a four-person team instead of three or two. The most important task is obviously setting up your business–so who should do that? That depends on your role in life at present.
Five People Make it Viable
Typically, your ideal startup team will consist of a few key players. In fact, most startups are founded by teams that consist of three to five individuals. Entrepreneurs with larger teams typically find they aren’t able to work as effectively or efficiently because there are too many cooks in the kitchen. However, some small startups do see success with large numbers of co-founders—but it’s uncommon and risky.
Six People Run the Show
Everyone knows that having a co-founder is vital for every startup, but how many co-founders should you have? There’s no set rule here, but six seems to be a good number. That gives you three people per business function and allows for each person to get comfortable in their role before having to switch with someone else. But it also keeps things from becoming unwieldy and overwhelming.
Seven People Manage Growth
A startup founder is expected to wear many hats, including that of Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Technology Officer (CTO), and head of marketing. And a team comprising three co-founders may not be able to handle all of these roles. So ideally, a company has seven people who could look after its business operations.