Relationship Status: Cofounding a Business
Whether you are in a loving relationship or not, Valentine’s Day is an excellent holiday to celebrate! Not because of the chocolates, flowers, or cute hearts, but because we can learn a lot from Valentine’s Day. Romantic right? In all seriousness though, relationships, whether it is with a romantic partner or a business partner, are in fact, quite similar.
In both cofounder relationships and romantic relationships, there is a dating period, the actual relationship, and sometimes, nasty breakups. Realizing this can help us have more satisfying romantic relationships and cofounding relationships.
Some Cofounders, like Romantic Partners Start off as Friends.
They already know each others’ good side and bad, and one day, it clicks that they should move towards something with a bit more involvement and commitment. These partners already enjoy spending time together, so the challenge becomes how to operate in a formally labeled relationship. Lovers who start as friends may have an initial awkward phase, similar to cofounders who may find it awkward at first to be in a professional setting with each other. The successful partners who start as friends have the advantage of knowing each other well and how to adjust to each others’ behaviours during rough times. There may be a disadvantage however of implications to each others’ social circles if the relationship were to go south. After all, there may be some wisdom in the old adage: “Thou shalt not defecate where thou ingest.”
Cofounders or Romantic Partners May Meet by Chance
For those who do not start as friends, both cofounders and romantic partners may meet coincidentally at a leisurely place. Perhaps at a bar, or at a mutual friend’s party. Whatever the circumstance, these individuals find that they have a lot in common, be it in personality compatibility in romantic relationships, or the vision for how the world should be, like in a business relationship. So of course, the sparks start to fly.
Commitment and Trust Take Time to Build
Whether they start with friendship or as strangers, the process of finding either a romantic partner or business partner is very similar. Commitment and trust are built incrementally. Don’t ask someone to marry you on the first date, and don’t ask someone to sign a shareholder’s agreement after one meeting. Really, don’t do it. Because the fact is, despite the best intentions, things may or may not work out.
There Are Many Reasons Why the Relationship Doesn't Work Out
There are many factors that may affect whether a romantic partner stays for life, or similarly, a cofounding partner stays for the life of the business. For one, things may be moving too fast and an individual may feel uncomfortable at the rate at which their expected level of commitment has risen. And so, they decide that they aren’t ready to share their partner’s love, or the company’s equity. Perhaps after an initial phase of excitement of doing something new together, a cofounder realizes that they don’t actually like working with the other individual. Similar to how many mistaken lust for love. They get caught along with the novelty of a business idea or excitement of a new relationship, that they ignore the red flags as they peer through their rose-coloured glasses. And thus, after the honeymoon phase wears off, someone eventually calls it quits. Another potential reason is that one of the individuals gets distracted by something they perceive to be a better situation. A cofounder may be seduced by a job offer from a well-known company that pays them a decent salary and offers health insurance among other benefits. Similar to how a romantic partner may be convinced to take an offer from the beauty at the gym who has a career, lives in their perpetually clean apartment (yes, without roommates), has time to keep a pet alive, and basically has their life together in every which way that their partner does not.
"You Stay Classy, San Diego"
Whatever the reason may be however, it is important to respect each others’ decisions. Breakups can be messy, a romantic partner may refuse to give their lover their stuff back, or a cofounder may require a large buyout for their equity. Both types of partners may take legal action and try to claim ownership of something, causing a lengthy and costly dispute. Regardless of the situation, remember to remain professional. Neither romantic nor cofounder relationships are easy. For the sole founders out there, maybe one day, swiping right to meet an ideal cofounder may not sound so absurd.