THE CONFESSION:
“My Co-Founder has always had a higher appetite for risk than me, which has been a good thing as it’s made us a strong team.
They stretch me to think bigger and I ground us with a bit of logic. But now it’s going too far…
They’re pushing bigger ideas with no real reasoning and a lot at stake. Then when I voice my (very valid) concerns, they make out like I’m holding everything back and being negative. What do I do?”
Firstly, great to reflect that as a team your different approaches to risk is a real strength. As that’s something you obviously value, which means this shift is even more noticeable for you.
Is that a strength you’ve openly spoken about with each other? Because if not, your Co-Founder might not see the change that you’re seeing and therefore also not understand the impact.
If this balance of risk is something you’ve discussed as a strength, is that grounds to bring it up as a conversation to talk through the changes you’re seeing and the knock on effect of that on your partnership and the business?
Have you asked the reasoning behind their increasing appetite for risk? It’s key to understand how they’re perceiving this current situation and why they’re looking to take more risk. What’s the blend of business vs emotional reasoning for them? Business reasons like revenue pressure, attracting investors, client changes etc. And emotional drivers like they’re feeling frustrated or undervalued, or perhaps the opposite, they’re excited and feel ready to push?
Discussing this openly with your Co-Founder is important because once you understand their motivations for this, you can work through them together.
Then looking at your role in this, (as this is a partnership after all) I’ve got a few questions:
What ‘real reasoning’ would you need from your Co-Founder for these bigger ideas to feel more viable? Have you told them that?
You said your voice your ‘concerns’, is that how you always see them? As concerns? Is there scope to step back and think about this differently. Instead share ways that you can develop their idea, or focus on how an element of their idea could work.
Are you having these conversations in the right environment? Could these chats be more connected and constructive if you changed how/when/where they occur?
Being part of a Co-Founder partnership with complimentary outlooks/mindset/skills etc is valuable, and your desire to address this going out of balance is totally valid.
Approach it positively. Not with anger or frustration, but with optimism that you know how good your partnership can be. This is an opportunity to learn and evolve as a team. Life moves, businesses change and people shift with it. Nothing will stay exactly as it was, so see this is a chance to reset and potentially make your joint approach to risk even stronger than before.
A QUESTION FOR YOU ALL TO ASK YOUR CO-FOUNDERS:
DO YOU THINK WE HAVE A HEALTHY APPROACH TO RISK?
Anna and Nicola, Co-Founders of:
CAKEDROP
An award-winning B2B solution that creates and automates branded treat experiences for businesses.
Voted ‘Supplier of the Year’ at the Office Management Awards for the last 3 years running, CakeDrop’s customer list includes the likes of Disney, Meta, Amazon and Netflix.
What’s the best thing about your Co-Founder partnership?
ANNA
Nicola and I are sisters, so our partnership goes beyond roles and responsibilities. We have an inherent understanding of each other (especially in our lowest moments).
We know each other's strengths and shortcomings really well, which helps us have a clear division of roles in the business as well as quickly spot when the other needs help. I can just look at Nicola in a meeting and know when she needs me to take a certain question or jump in. Equally she can sense if I’m feeling overwhelmed and need support.
NICOLA
There are so many functional benefits that stem from having known each other our whole lives - from the way we communicate easily to having similar core values that underpin how we operate.
But from a personal perspective, I love that I get to be on this journey with my sister. To be able to build something together and experience all the highs and trials together. I know when I look back at my life I’ll be forever grateful for that privilege.
What’s challenging about it?
ANNA
I am particularly direct as a person, which is something one doesn't have to filter when with family. But there are moments I have to be mindful to adjust my communication style, especially when around our team. The majority of the time, being able to cut through the crap is extremely efficient and positive for the business, but often we have to step out of being sisters and into being business partners for the benefit of people around us.
NICOLA
Implementing and maintaining boundaries. For example, avoiding the temptation to talk about work at social and family events. Anna might not feel the same but I have to actively stop myself sometimes. On the flip side, we could be in the middle of a financial forecasting meeting and then descend into sister chat. We have to be strict with ourselves.
How important is your partnership to your success?
ANNA
I couldn't do this without Nicola, and she couldn't do it without me - that is the ultimate partnership. I am so grateful I get to do this with Nicola and that we have a lot of laughs along the way.
NICOLA
Fundamental. I categorically would not have been able to do this on my own. I have endless respect for solo founders that walk this path (or rather, ride this rollercoaster) alone. Anna brings skills, character traits and a perspective I don’t have, and vice versa. We keep each other going - when one of us is feeling burnout, the other is there driving momentum.
This edition was published on the 24th November 2023
