Why Startup Founders Need a Coach and the Best Way to Find One

Can you name a successful founder who made it big on their own? My guess is probably not. That’s why Jessica Livingston of Y Combinator says, “None of the founders that have made it big did so without a coach.” It’s almost a universal truth that founders need coaching to succeed.

Of course, if you’re a founder who’s never had a coach before, it’s not always easy to accept that coaching. When I had an investor first suggest a coach to me, my protective walls immediately went up. I worried that I wasn’t good enough or that the investors weren’t happy with my performance and wanted to replace me.

It’s understandable to think that way as a founder or be skeptical of getting a coach. However, a coach is a vital part of success, and finding the right one is a key step on any startup journey. Even experienced and accomplished founders require coaching if they hope to fulfill their potential and achieve their goals.

Founders should keep in mind that even Olympic athletes have coaches. Raising a Series A or Series B is no different from being an Olympic-level athlete; these are the founders who have bucked the odds and distinguished themselves as the best of the best, much like Olympic athletes. 

Yet, even Olympic athletes have coaches with them who have been there before, can share their experiences, and can help them get better. Founders at any stage should view themselves in the same way. No matter their level of success, a coach can always help them to get better.

The key is finding the right coach because not every coach is going to be a good fit. Most founders are happy to go along with a coach recommended by a VC or investor. However, remember that investors have different interests from the founder, so you can’t always trust that the coach they want will be the right one. 

How should you go about finding the right coach? The answer is other founders. After all, other founders have been in your shoes before. They can tell you what they got out of working with a particular coach. They will be able to judge whether a coach will be a good personality fit or not. They will be the most qualified to recommend a good coach.

Are you sensing any strain in your co-founder relationship? Do you worry that both co-founders aren’t getting the most out of their abilities? With the Co-Founders Dynamics Lab from the Midstage Institute, startup co-founders can identify their complementary strengths, define their roles better, and create a stronger partnership for the future.