Entrepreneurship

What's 'Due Diligence' when vetting cofounders?

Maria Garnier Operations Coordinator en Socialatom Group

December 18th, 2016

Co-founders will likely need to spend lots of time just to fully understand the problem and the business case behind it. Then if they are actually interested in tackling that problem and believe a business can be built, it is difficult, requiring lots of time and specialized technical knowledge.

At the co-founding stage I find it is important to be able to meet face to face and work with someone in person. CoFoundersLab does all of its search based on proximity which I find useful but sometimes it is hard to know if it would make sense to search in other areas outside of my current location. When considering people I'd like to work with, the most appealing ones are those who will be able to do everything without me.

So I'm wondering how this vetting process should go? Thanks so much for your responses.

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Joshua Alomar Ambitious, Rebel, Entrepreneuer

December 20th, 2016

In my experience it really depends on if the founder and the cofounders are willing to meet face to face over long distances. In my startup I started the business idea in MN, but because of lack cofounder talent here locally I will be relocating to CA where my partners are.