Running a business with someone else can be a challenge, no doubt about it. The relationship between co-founders is likely the most intimate business relationship two people can have, and just like any other relationship, it can deteriorate without proper upkeep. Still, it’s a bit shocking to learn that 65% of startups fail due to co-founder conflicts (according to Noam Wasserman, author of The Founders Dilemma). That seems like a high percentage, considering a good amount of those conflicts could be solved or avoided altogether with proper coaching and/or training.
Executive coach Alisa Cohn has a lot of experience mediating and coaching co-founders through conflicts so their businesses may succeed. In her new article from Harvard Business Review, Ms. Cohn lays out 5 simple steps co-founders can take to ensure a smoother relationship. Not all these suggestions are going to be easy or comfortable, but they will absolutely be worth it. At the end of the day, with some careful planning and the right coaching, the co-founder relationship can be just as successful as the company each loves.