Starting a business with your best bud? On the surface, this idea seems all well and good. You know each other like the back of your hand, you like the same stuff, you hate the same stuff, you hang out even when you don’t have to. BFF… Right?
Well, maybe it’s not.
According to a Crunchbase study, you might want to rethink teaming up with a friend to begin a company—or anyone at all for that matter. Referring to data collected by the study’s author, Haje Jan Kamps, the “solopreneur” has proven to be more successful than companies started by up to five or more people. Kamps discovered that 46 percent of companies that were able to land at least $10 million in funding had just a single founder, and just 17 percent of companies that had three or more founders had secured an exit of some kind. So the numbers dictate that you surely don’t need a team to sell your big ideas. But, if you do need someone to work with, does a friend make the most sense?