Ep. 27 The Co-Founder Advantage: Key Tips for Effective and Impactful Collaboration

DO GOOD X Podcast

Welcome to this episode of the DO GOOD X podcast, hosted by Kimberly Daniel! Today, Kimberly dives into the benefits of working with a co-founder, sharing key insights and advice for purpose-driven entrepreneurs. She provides three essential tips on building a successful partnership, including the importance of expanding your skillset, maintaining consistent communication, and choosing a co-founder with access to investment opportunities. She also emphasizes the relationship portion of the partnership. Remember to join the DO GOOD X LinkedIn community to connect with fellow entrepreneurs on the path to purpose-driven growth.

IN THIS EPISODE:

• [0:59] Kimberly discusses three tips for having a co-founder in your business
• [2:56] Tip One: Expansion of your skillset
• [5:02] Tip Two: Consistency in communication-knowing how to navigate conflict
• [8:02] Tip Three: Choosing a co-partner who has access to investment opportunities and entrepreneurial programs
• [11:07] Recap

TAKEAWAYS:

• Some investors require a co-founder. However, if you have a strong team, that may be optional or not necessary.
• Businesses with co-founders thrive when they each contribute different skills and stay in their own lane. Having an exit strategy, if the partnership doesn’t work, is imperative
• A co-founder's credit rating is often forgotten when setting up a partnership. Still, how a person manages finances impacts how the business operates and opportunities to secure funding.

Links:

DO GOOD X - Website

DO GOOD X - Podcast

DO GOOD X - LinkedIn

DO GOOD X - YouTube

DO GOOD X - Spotify

DO GOOD X - Instagram

Kimberly Daniel - LinkedIn

Stephen Lewis - LinkedIn

Kimberly R. Daniel catalyzes entrepreneurs and organizations to do good. She is co-founder and project director of DO GOOD X, a community that provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive Change.

Kimberly also helps purpose-driven organizations clarify and design compelling brand and communication strategies. With over 15 years of experience developing and leading communications efforts, she is committed to producing effective processes and creating authentic, “sticky” brands that are community-centered.

In addition, Kimberly has nearly ten years of experience as a certified life coach. She has facilitated workshops, spoken to communities, and written about innovation and entrepreneurship centered on social impact. She co-authored A Way Out of No Way: An Approach to Christian Innovation (2021).

Stephen Lewis is the president of the Forum for Theological Exploration (FTE) and the creator and co-founder of DO GOOD X. This community provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive change.

He is an organizational change strategies and leadership development specialist focused on inspiring the next generation of faith-inspired leaders and entrepreneurs to live and work purposefully. Stephen co-authors Another Way: Living and Leading Change on Purpose (2020) and A Way Out of No Way: An Approach to Christian Innovation (2021).