Make a mistake, be a single startup founder

These series of guest posts are written by the teams attending the Tetuan Valley Startup School 2010 Fall edition. This post is from the automatify team, formed by Guillermo Arribas.

Among the VC industry and angel investors there’s a common consensus about the biggest mistake startup founders make: going solo.

Actually, they are rather dogmatic on this issue, explicitly stating that they refuse to work with individuals. Do single-founder companies ever get funded? Or is this just another startup myth?

Let’s be pragmatic and seek truth from facts. Amazon (Jeff Bezos), eBay (Pierre Omidyar), Mint (Aaron Patzer), Digg (Kevin Rose): all of these companies were founded by one person and got significant funding. That’s why entrepreneurs perceive professional investors as arrogants with double standards.

The startup process should be seen as a succession of events. In order to be successful, at some point there is a need to add team members to scale. But teaming up doesn’t need to happen at the start of the venture, it can occur later.

Hiring employees, giving them stock and calling them co-founder is fine as long as there is no confusion that they are early employees following someone else’s vision. Needless to say, there’s absolutely nothing wrong with a VC-free startup, in fact the big-bet model is not in the entrepreneur’s best interest.

Instead of spending time looking for cofounders without success, it is better to create something people want. The cost of building software has come down dramatically over the past decade and now is probably the best time to start a web startup.

So do yourself a favour, make a mistake. Start buiding your company. Yes, even alone. Now.

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