It’s understandable why people are quick to partner – the risk and likelihood of failure are so great that having someone by your side can provide tremendous moral support. But there are a lot of drawbacks to bringing on a partner immediately. While your partner’s skills might be perfect at the outset, what happens when you pivot and your company morphs into something completely different? You’ll be tied to someone ill-suited for your company. Having a partner to brainstorm with might result in better solutions, but it can also cause a lot of friction and bad compromises. Early hires or partnerships often make or break a new business, so the importance of waiting is not to be underestimated.
One of the best ways to beat these challenges is to wait to partner. This doesn’t mean that you’ll never have a partner, but that you’ll have some room to explore and experiment first. Then, when you’re ready to bring someone on, you’ll have a solid understanding of what you need to build a great company. The best part of waiting to partner is that you’ll have to give up a fraction of the equity you would at the outset. Build first, then partner.