In the travel startup landscape, collaboration among founders is a common theme, with many companies boasting at least two individuals at the helm, each bringing distinct skill sets to the table.
For those who opt to embark on their entrepreneurial journey solo, the challenges can be overwhelming. They must handle all aspects of the business, including technology development, sales and marketing, and fundraising, without the benefit of shared responsibilities.
At last week’s WiT conference in Singapore, several travel industry founders gathered to discuss the advantages of having a co-founder. Mike McGearty, co-founder and CEO of the mobile platform Meili, emphasized the benefits of “better talent distribution.” He highlighted that few individuals possess confidence across all areas necessary for a startup’s success. “Having a co-founder means you have a better distribution of skills,” he stated. “It’s a long journey, so having someone to share that experience with makes it easier to navigate both the good days and the challenging times.”
McGearty participated in a session titled “The Founder’s Dilemma” alongside Fritz Demopoulos, co-founder of the Chinese travel search engine Qunar, and Wego co-founder and CEO Ross Veitch. Demopoulos shared his perspective on the complementary nature of co-founders, noting, “Sometimes you can’t be on the front lines all the time. Sometimes you need your co-founder to step in.”
He also underscored the rarity of successful ventures led by a single founder, mentioning his own investment experiences. “I think there are very few businesses with just one primary founder. One of my most successful investments involved a company with five co-founders who were able to thrive together,” he remarked.
Veitch added that having someone to “share the load” in the early stages is crucial due to the intense demands of startup life. He suggested that founders who are newly graduated or early in their careers benefit significantly from having a supportive co-founder by their side.
The discussions at the conference highlight a growing consensus in the travel startup community: while going solo may seem appealing, having a co-founder can be instrumental in navigating the complexities of launching and sustaining a successful business.
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