Problem
Tim was having trouble figuring even the most basic questions about founding. Coming up with his idea had been easy compared to figuring out whether to be a solo founder or to attract cofounders, where and what to look for in a cofounder, and how to structure the team. After college, Tim had spent years as the lead singer of a band that had trouble finding a large audience for its songs. Along the way, he also worked in other areas of the music industry, such as writing scores for movies and radio ads.
The challenges faced by his band sparked an idea for him. Why not build a database of the musical attributes of each new song, develop a web site where people could indicate which songs they like, and then stream for them new songs that have similar attributes? Listeners would find music they like, unknown bands would find new audiences, and his company would be able to fund itself either through online ads or subscriptions. Tim discussed the idea with several colleagues and friends. Their feedback both helped him refine the concept and motivated him to start a company to develop the idea. He gained confidence that the concept was valuable and the business plan was sound.
Most memorable was a discussion he had with Brian, the musician with whom he was best friends and who had recently retired from his own band. Although Tim and Brian had never worked together - their bands were often on opposite sides of the country - whenever they were in town together, they would grab a beer and catch up. Brian was passionate about Tim's idea and offered to cofound the company with Tim. Tim had been thinking about starting the company himself while continuing to have informal conversations with people he knew whenever he ran into a new issue for which he wasn't prepared. However, his friend's interest sparked thoughts about the benefits of having a cofounder and he began considering it.
Another person with whom Tim talked was an experienced businessperson who offered to introduce him to Vedhika, a technology wiz she knew who was also an amateur musician. Tim took her up on the offer and had a pleasant chat with Vedhika, though there were times when he found himself having to explain some musical terms and having to ask for explanations of some technical terms. He liked Vedhika and learned a lot during the meeting, especially when she pushed back on some of his implementation ideas and technology plans.
As Tim continued developing the idea, he wondered about whether he should continue doing so on his own or whether to try to attract a cofounder. If he were to cofound, Brian would be his first choice. He felt much more at home with his musician friend than with his new acquaintance, Vedhika. "After all," he reflected, "when you're building something from scratch, like we did with the band, you're in the war trenches together and really need to feel compatible with your cofounder."
A. What is the most important reason Tim should found solo?
B. What is the most important reason Tim should try to cofound?
C. If he decides to attract a cofounder: What are the most important pros and cons of cofounding with Vedhika? Of cofounding with Brian instead?