[tylercubell]

Mistake #1 is rushing into the relationship. If you're excited or desperate, you'll overlook things that could bite you in the ass later.

Ask yourself a few questions first. Does your cofounder have a track record of execution or do they bounce from scheme to scheme without achieving anything? Are they sane and competent or do they have a criminal history and a troubling social media presence?

Do your due diligence. Run a background check (seriously). Don't be afraid to ask the hard and uncomfortable questions up front.

In my own experience, if I were to bring on a cofounder again I would write a honeymoon period clause into the Founders' Agreement. Something to the effect that if the relationship doesn't work out during an initial period of time, each party's risk is limited to only the money and time they put into it. I'd rather get an annulment than a divorce if possible.