Entrepreneur and founder Morgan DeBaun, best known for her work with the groundbreaking media platform Blavity, recently shared candid insights on the critical decision of bringing on a co-founder.
Speaking at an event, DeBaun outlined the importance of understanding when a co-founder is necessary, what to look for in a partner, and the potential risks involved.
“If I’m a non-technical founder and I have a vision for a technical product, I would consider getting a technical co-founder,” DeBaun explained.
However, she cautioned against entering into these relationships lightly.
“Be very careful how you structure these arrangements if you are meeting somebody at this stage in your life,” she advised.
DeBaun emphasized the challenges that can arise from poorly structured partnerships, including the potential dissolution of otherwise promising businesses.
“I’ve seen a lot of businesses that were fantastic actually go down because they have co-founder disagreements and one of the co-founders wants to get out,” she shared, highlighting the importance of clear agreements from the outset.
While DeBaun recognizes the value of co-founders in specific scenarios, she also encourages entrepreneurs to explore alternative roles for collaborators.
“I’m a firm believer in, you know, you could just pay somebody. It’s okay to have employees,” she said. “A co-founder is a very serious title. You can say, hey, you’re my CTO, you’re my COO, you’re my president, and they can still have 15% equity, but a founding title is something to be taken very seriously.”
DeBaun’s remarks underscore the high stakes of co-founder relationships, offering a balanced approach to ensuring alignment in vision and protecting the future of a business.
