What to Look for in a CoFounder

And How You Figure Out if You ve Found Them By Nils Bunger Co-Founder, Pano Logic EIR, Foundation Capital nbunger@foundationcap.com

Things to Look For ‡ Great personal chemistry with you ‡ Talent and Motivation ‡ A Swiss Army Knife ‡ High Emotional Intelligence (c) 2010. Nils Bunger 2 .

Nils Bunger 3 .Deep Talent  Motivation ‡ Raw Capability and Work Ethic ‡ Data-driven ‡ Aware of their ecosystem ‡ Can-do attitude ‡ Asks great questions that get others thinking (c) 2010.

Nils Bunger 4 .A Swiss Army Knife A Great Biz Co-Founder ‡ Finds early customers ‡ Fundraises ‡ Builds the pitch ‡ Handles legal/accounting/logistics ‡ Does marketing A Great Tech Co-Founder ‡ Writes product specs ‡ Architects ‡ Implements ‡ QAs ‡ Manages engineers (c) 2010.

Nils Bunger 5 .High Emotional Intelligence ‡ Integrates other people s ideas and give them credit ‡ Works with people of all skill and seniority levels ‡ Great at resolving conflicts ‡ In it for the long term These are really leadership traits (c) 2010.

Nils Bunger 6 .Evaluate a Potential Co-Founder in 3 Stages ‡ Dating Casual Conversations ‡ Engagement Real Deliverables ‡ Prenup The Nuts and Bolts (c) 2010.

Dating ‡ Go to different talks and events together. ‡ Ask your date open-ended questions about the events ‡ You re evaluating chemistry. and how well they synthesize information (c) 2010. how they think. Nils Bunger 7 . and share insights with each other.

Engagement ‡ Assign specific projects with deliverables to the other person ‡ Examples: a pitch deck. or a prototype. Nils Bunger 8 . or 3 customer meetings ‡ Unlike dating. you can do this with several people at once (c) 2010.

Nils Bunger 9 .The Prenup ‡ Define your roles in the company and how those roles may evolve. ‡ Agree how long you commit to each other fulltime without funding ‡ Talk through what kind of company you want to build ‡ Create vesting agreements the day you issue equity WRITE IT DOWN! (c) 2010.

Nils Bunger 10 .If you get through those stages Go Build a Company! (c) 2010.

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