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Launching a new business is quite a juggling act. To make sure you’re functioning like a well-oiled machine, a co-founder may be the answer to your prayers. But if the selection process isn’t done right, having a co-founder can be a disaster. You want to be searching for the yin to your yang, but you also need to steer clear of people who will ruin your reputation, fall out of sync on  or set wildly different goals to your own.

Having a co-founder means splitting the rewards as well as the responsibilities, so make sure it’s worthwhile. Here’s some advice from — taken from experience — on choosing a co-founder for new entrepreneurs.

Related: Sign Up For a Risk-Free Trial of Our On-demand Start Your Own Business Course

What are the benefits of having a co-founder vs going solo?

A co-founder can complement your skills while filling out gaps in other areas. You can also sound ideas off one another, gain new perspectives and approach decisions from different angles. 

According to Anthony Rose, founder and CEO of SeedLegals, any new startup

A realtor, at right, shows prospective buyers a property in Newport Beach, California.

Jamie Rector | Bloomberg | Getty Images

Sales of existing homes jumped nearly 21% in June compared with May, according to the National Association of Realtors.

This is the largest monthly gain since the Realtors began tracking the data point in 1968. It came after sharp declines over the previous three months due to the coronavirus pandemic. Sales were still 11.3% lower annually.  

This count is based on closings, so it represents contracts signed in late April and May, before much of the national economy began to re-open and coronavirus cases started to surge again.

“The housing market is hot, red hot, based on the data and the anecdotal prevalence of multiple offers,” said Lawrence Yun, chief economist for the Realtors “The urban area is less hot. We are clearly seeing trends for smaller towns or suburbs.”

Home sales could have been more robust, had there simply been more homes for sale. The supply of existing homes available fell a remarkable 18.2% annually to just 1.57 million homes for sale at the end of June. Based on the current sales pace, that represents a four-month supply. Last

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Good morning.

I had an interesting conversation yesterday with Adam Schechter, CEO of LabCorp, who had been informed by a CEO Daily reader of my abysmal 10-day wait for COVID-19 test results. Schechter apologized, and said the company is now getting results out much faster.

My test was July 3, I noted. He had stood on the White House lawn in mid-March and said his company was spending “every second of every day” and was “committed to doing everything possible” to increase testing.  What happened?

“Let me explain it to you,” he responded. “The first thing is, irrespective of what I thought we would need, my philosophy has been to build as much capacity as we possibly can to get fastest turnaround, irrespective of cost. We have bought every piece of equipment we could buy. I have even bought used equipment. We are buying every reagent we can buy.”

But the problem, he says, is that his suppliers serve a global market, and face surging demand everywhere. “If I could have gotten more machines and reagents, I would have done it. We could …