This story appears in the August issue of Utah Business. Subscribe.
YES
Co-Founder & Co-CEO | Soon.app, through a mutual friend. Our passion for crypto brought us together. We wanted to build something that would be beneficial to us and other people by helping them become more self-reliant, build their wealth and become inflation-resistant.
When we started working together, it was quickly evident that his skills were complementary to mine. A healthy co-founder relationship is literally everything. It’s the No. 1 thing that causes businesses to fail or succeed. Having co-founders means you can share the burden. To find the right co-founder, you have to build symbiotic relationships. You have to learn how to communicate, deal with emotions and be comfortable totally trusting the other person. When we attended Y Combinator, they talked about being cockroach founders, meaning you are resilient and never die. We call ourselves ‘tardigrade founders’ because tardigrades are even more resilient than cockroaches. You have to find a way through difficulty with grit, creativity and determination.
If you find the right person (or people), it’s so much better than trying to do things alone. You can’t build something that can scale and grow on your own. You only have so much time in the day and can only move so fast.”
NO
Founder | Mauve Jewelry Co.“Mauve started as a creative outlet and side hustle during the pandemic. Initially, I wouldn’t have even thought about hiring a co-founder. Eventually, it developed into something more and transitioned into my full-time role.
When you’re starting out, be ready to do every aspect of the job. I had to find a balance and make time for not just the things I liked about the job but also the logistics. I found that the small business space in Utah is very female-oriented, and I’ve had a lot of support. Be willing to ask for help. I had a lot of late nights with my support system.
As Mauve grew, I looked at businesses around me and had a tinge of envy for the support and buy-in they had, but it just didn’t make sense for me to bring on a co-founder. I often had the mentality, ‘I can do it myself,’ but it’s great to hire contracted employees to do the things you aren’t good at.Ask yourself, ‘What do I wish someone could do for me?’ and start there. I started by hiring a product photographer.
I work in a creative industry. I design products. I’m so grateful I don’t have to get approval for the things I’m doing with my own business, which would slow down the creative process. I love the agility that being on my own has provided.
Mauve is celebrating our three-year anniversary, and I wouldn’t do anything differently.”