TLDR
The Y Combinator team has the choice. Why wouldn’t they choose what has proven to be most successful in the past?
They are also looking for the next big thing, while you might already be happy with a lifestyle business. Different businesses, different rules.
Ever since the Y Combinator guys said they don’t prefer solo founders, there’s been a lot of talk and blogging about this.
Check here: http://ycombinator.com/faq.html
–quote–
I have a great idea for a startup, but I’m not technical. Will you still fund me? Can you help me find programmers to implement my idea?
We’ll consider funding you, but your chances are about ten times better if you find yourself a technical cofounder.
It’s much better if you find one yourself through friends of friends than if we introduce you to someone. Teams thrown together for the purpose of starting a startup usually fall apart under stress. You need some kind of personal connection.
–end quote–
Now, there are 2 things to keep in mind:
They have the choice
The Y Combinator team can choose. When you’d be in their shoes, wouldn’t you choose what has historically turned out to be the best bet?
They have more than enough potential candidates.
They are looking for ideas with huge potential
Y Combinator wants to back teams that could do something big: become the next Twitter, Facebook, Google,… they’re not looking to back a ‘lifestyle business’.
But this might be just what you’re looking for: something to provide sustainable income and replace the daytime job. And if it turns out to be more: great!
Your chances increase (and your need for a cofounder decreases) when you don’t want to make a multi million $, but just make enough to live a comfortable life.
Remember also that you’ll need to generate twice the profit to support the both of you. No problem with a multi million $ business. Potential problem with a lifestyle business.
Other resources
More interesting thoughts here:
http://publicbeta.co/you-dont-need-a-cofounder/
http://www.bothsidesofthetable.com/2011/05/09/the-co-founder-mythology/ (must read)
http://blog.spreedly.com/2009/12/22/cofounders/#.UiTnr3-Hjpc
http://www.jamesaltucher.com/2013/08/the-ultimate-cheat-sheet-to-starting-and-running-your-own-business/
James Altucher says:
8) Should you have a technical co-founder if you are not technical?
No. If you don’t already have a technical co-founder you can always outsource technology and not give up equity.
I wonder what he’d say about not having a non-tech co-founder. Probably ‘what the hell are you waiting for’?
My Conclusion
If you already have a good co-founder: GREAT!
If you don’t: don’t bother looking for ages. You’ll have a bigger chance when you start NOW on your own. Really, you don’t have a choice. You can’t hurry finding a co-founder, it’s like getting married after the first date: even if it only lasts a year, you’ll regret it for your whole life.
Being an entrepreneur is also about following your own path, regardless of what everyone is saying. Absorb the pre-existing knowledge, apply common sense and your own insights and do what YOU think is right.
I got into business with a co-founder because I couldn’t find someone else and I really wanted to start something. Read here why I regard this as a serious mistake.
Nevertheless: If you have an interesting idea and are looking for a tech co-founder and you have relevant (sales, marketing,…) experience yourself: convince me at jake dot solofounder at gmail dot com.