Find a Co-founder who is an engineer

Having a co-founder is a huge advantage for a startup, especially when the founders have complementary skill sets. For example, a marketing expert and a design engineer make an ideal co-founder team; better yet, throw in a financing expert too.

A co-founder who has the skills (or the ability to learn the required skills) to develop your product will save you the most money. I would estimate that about 85 percent of the expenses for developing a new product are engineering costs. So, getting an engineer on your team will save you tens of thousands in the long term.

Another advantage of having a co-founder is that that asset will make it easier to attract investors, especially if your skills are complementary. Investors know that the odds of success are greater for startups with two or more founders.

Adam Callinan of Beachwood Ventures sums it up well in his article 7 Reasons You Need a Co-Founder, writing: “If the founder burns him or herself out or gets hit by a beer truck, both the company and our investment are likely gone. Unless it’s a truly otherworldly opportunity and all the stars align, it’s just not worth the risk as an investor”.

Source: Entrepreneur.