If you think about it, most travel startups have at least two founders, often with completely different skill sets.
When you run a business alone, you have to do everything by yourself, including technology development, sales, marketing, and financing.
Last week at WiT Singapore, travel founders discussed why they think having a co-founder is the best route.
Mike McGearty, co-founder and CEO of mobility platform Meili, said bringing on a co-founder (in this case Bobby Healy, an industry veteran and founder and CEO of Manna) allows for “a better distribution of talent.” He said it is about creating.
“Very few people are confident in everything they do, so having a co-founder means they have a wider range of skills. You’re on a long journey, and you’re making it fun. “It’s important to have someone to share things with,” he said, “and it makes it much easier to get through the bad times, the difficult times.”
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McGearty was speaking at a session titled “The Founder’s Dilemma” along with Fritz Demopoulos, who co-founded China-based travel search engine Qunar with two other founders in 2005. The two were joined on stage by WeGo co-founder and CEO Ross Veitch.
Demopoulos agreed that the co-founders complement each other. “Sometimes you can’t always be on the front lines of the battle. Sometimes you need your co-founders to do it for you,” he said.
“I think it’s pretty rare for a single founder to actually make something happen.”
Demopoulos, now CEO of Queen’s Road Capital, said he believes he only invests in businesses with his co-founders.
“I think there are some companies out there that have key founders. I’ve had five co-founders and they’ve been one of my most successful investments in great companies that can make it work.” he said.
Meanwhile, Veitch, whose team includes Wego co-founder Craig Hewett, said there is so much to do that it’s important to have someone in place to “share the load” early on. Veitch says it’s also good for founders who are fresh out of college or a few years into their first job to be “on the ground” with someone else.
