Evalentum
Evaluation Framework for Startups Ecosystem
🚀🚀🎉 We are excited to announce the launch of our Startup-Mentor matchmaking app! Here's the reason why we built this app? Mentorship can make a huge difference for startups. Businesses with mentors achieve 83% more revenue than those without. Additionally, 92% of small business owners say having a mentor helps their growth and business survival. Moreover, 70% of small businesses with mentors are twice as likely to last more than 5 years.
Here's an interesting fact: 89% of business owners without a mentor wish they had one. That says it all, doesn't it?
But how do you find the right mentor for your startup challenges? Finding the right mentor is not just about scrolling through profiles or using generic filters. It's about making real connections based on your business goals, challenges, and requirements. That's what true Startup-Mentor connection is all about!
At Evalentum, we have made startup-mentor matchmaking easier using data-driven, hybrid matching techniques. We have developed an app that can recommend mentors for your startup based on your PMF issues, business model, startup objectives, challenges, team management issues, and more.
🎉🎊 Join our startup mentor network here: https://app.evalentum.com/mentor-match
🚀 Find a verified mentor for your startup: https://app.evalentum.com/mentor-form
🚀🚀🎉 Our Co-Founder Matchmaking app v.0.1 is live now! 🎉🎉🚀 What stands out in our approach is the combination of hybrid psychometric models, skill analysis, and machine learning for profile recommendations. We built this app to solve the 65% of startup failures caused by co-founder conflicts, according to the Harvard Business Review. When building a startup, not only financials, legal risks, etc., matter personality traits matter too and should be given more importance.
The whole idea was born from this quote: "When a team trusts each other, success is a natural byproduct," and the previous experience of our team.
🚀 Join here: https://app.evalentum.com | 🎉 Website: www.evalentum.com
#startup #founder #cofounder #entrepreneur #machinelearning
According to the research from Harvard Business Review, 65% of startups fail specifically due to co-founder conflicts. The number 65% is a huge percentage, nearly two-thirds of entrepreneurial ventures. This two-thirds of entrepreneurial ventures fail not because of challenges in the market or financial constraints, but because the founding team could not maintain a functional working relationship. Moreover, 23% of startup failures are due to team conflicts or disagreements, with an average of 4.2 months being the typical lifespan before the conflicts become difficult to solve. Companies with misaligned co-founder visions and purposes have a 300% higher chance of complete business failure within the first two years.
A question for the audience: What specific communication strategy, conflict resolution methodology, or preventive measure would you recommend to help co-founders align their vision and maintain a healthy, productive working relationship?
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Cofounder conflict is often treated as a personality problem, but many disputes begin with unclear expectations. Equity, responsibilities, decision-making authority, intellectual property, and exit scenarios should be discussed before the relationship is under pressure.
A strong cofounder agreement cannot prevent every disagreement, but it can make difficult situations much easier to navigate.
In my view, founder alignment is not just about having the same vision. It is also about agreeing on what happens when that vision changes.
What do you think founders should discuss before splitting equity and starting a company together?
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I've had a few companies with earning in the millions annually. To date, partnerships going south has been the death of nearly everything I've ever built. It may take ten years to happen, but eventually things happen. More often than not it's short sighted greed, or paranoia. That's what I've experienced, and seen with others first hand. Pick your partners well. It's a marriage. Most my projects have been in an office with 20 to 50 employees and we spent all day and many nights out together. When that circumstance changed and we weren't on top of each other or in the same state even, that's when the greed or paranoia set in. I think more so the latter but others tell me I'm wrong, who knows. Just keep partnerships to a minimum. Be in constant communication and alignment. And have money in the bank for litigation. You can steal a business fairly easily in the US if the other party can't afford to go to court to defend their stake.
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Thank you for sharing your experience! I agree that picking the right partners and staying on the same page is really important. Things do change when you are not working closely together, and that can lead to problems. Having clear agreements and good communication is key. I will definitely keep this in mind.
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