Founders flying solo: Jon Yongfook, John Fearon, and Douglas Gan chime in

Being a solo founder is no fun. That’s the vibe I got after speaking to three seasoned entrepreneurs in Singapore’s technology scene: Jon Yongfook of Tinytrunk, John Fearon of Dropmyemail, and Douglas Gan of VanityTrove.

But doing it alone isn’t just unpleasant, it hampers your chances of succeeding. According to a Startup Genome report, technology companies with one founder tend to raise less money, experience less user growth, and take longer to scale.

Despite these known facts, many entrepreneurs still take the journey alone, for whatever reasons. That’s actually not always a bad thing. As these entrepreneurs will tell you, there’s never an ideal time to start a business. So why should the lack of a co-pilot stop you from taking off?

Jon Yongfook, founder, Tinytrunk

“My criteria for a co-founder is just a lot higher than other people. I’m 32, I’m not a student anymore.”

Jon has experienced life as both a solo-founder and a team member at a startup. His entrepreneurial journey began when he started Open Source Food, a recipe website in Japan, by himself. That business was acquired.

He later joined Glamour Sales as an early employee (when they had zero customers), becoming its Web Director. He enjoyed being part of the team.

“Me and the co-founders would argue all the time, scream at each other in the office, but we’re really close, so that’s hard to find,” he said.

There’s no question what his preferences are. Yet at his latest startup, Tinytrunk, an e-commerce marketplace for indie fashion labels and sellers, Jon is is going solo again, not that he wants to.

“With Tinytrunk, I’ve gone a little bit further than I like before I find that magical co-founder,” he says, “people tell me, ‘you’re crazy for doing this on your own’. But I’m not trying to do this on my own!”

Jon concedes that his criteria for a co-founder are quite stringent. Given the cachet he accumulated from years working at Internet startups, it’s difficult for him to encounter someone in Singapore who has a similar level of experience, and yet possess a complementary skillset and personality.

“I need someone who has run a shop themselves, and understands the difficulties that retailers and designers face. They must understand the tools these people are using and what’s shitty about those tools. Someone who has an address book that’s full of brands, or is seen as an authority in the field. That’s difficult to find,” he says.

He admires people that can do things he isn’t good at. It could relate to managing payroll, accounting, cold calling, and contract law. He’s also seeking people that’s comfortable managing a team with him, who enjoys making their employees’ lives fun and engaging.

While Jon has been approached by many to start a company together, he has turned them down. There’s simply not enough seasoned business co-founders in Singapore who know what it feels like to start something from scratch.

“I don’t wait around for someone to tell me yes. I don’t wait for a green light.”

“Finding a co-founder is like marriage… if you can’t find one, it means you’re not ready to settle down. That’s my usual logic.”