Featured on The Ace Department

To partner, or…

…not to partner?
Maybe not as pressing a question as Hamlet’s, but nearly as fundamental when it comes to running your own business. Here, Brittany Haas (founder of Something Borrowed NY) explains why she’s in the market for a new co-founder.

• Investors don’t invest in people — they invest in TEAMS: I’m eager to join an incubator, or to begin fundraising again now that we have the traction we need. However, without a management team to back me up, I’ll never be able to associate with those types of crowds.
• I don’t have the money to hire anyone: It would be easy for me to contract a developer, a designer, a PR firm etc. to help take Something Borrowed NY to the next level, but it would require a LOT of extra money. As successful as we’ve been, we don’t have the capital to hire the team we need.
• It takes a lot of pressure off: It’s hard to do it all on your own! My “ex-founder” and I had a perfect “yin and yang” of playing off each other’s strengths and weaknesses. Plus it’s easier to craft an argument or prove your case when you have the assistance of others. Yet, connecting with a co-founder is an emotional relationship. It’s finding that “special someone” who you can trust to own a part of your business! That’s something that can only come with time and doesn’t usually happen with a stranger.

We’ve talked about this before, but the decision to partner can really make or break your business.  The thing I like best about Brittany’s situation is that she obviously knows herself — understanding why is the best first step to getting what you want.  For her, it’s a desire for smart teamwork, mutual backup, eventual VC, and the reality of short capital.

What is it for you?

I know most of you are running your own show already, but if you’re interested in the future of Something Borrowed, get in touch with Brittany.

by Jessica Wright

posted January 3, 2012 • no comments (yet) • filed under Diversions • tagged with connections, VC, venture capital