Where did you find this "co-founder"? It really sounds like what you want is an employee you can boss around. Did you ask around for a geek you can give requirements to like so so many other "business guys" do who think they have a great idea for a company? You've got a co-founder, not a lackey you can tell they're "allowed" to sleep in an extra hour in the morning, if they absolutely need it.
Read what the top-rated comments here say, then read them again. Then read Michael Lopp's book "Managing Humans". Luckily for you, you asked his question in the right place. You're getting real advice here that you absolutely need to take to heart if you want to avoid a whole raft of problems and probable failure.
Good luck to you if you get your head on straight and good luck to your co-founder if you don't.
Read what the top-rated comments here say, then read them again. Then read Michael Lopp's book "Managing Humans". Luckily for you, you asked his question in the right place. You're getting real advice here that you absolutely need to take to heart if you want to avoid a whole raft of problems and probable failure.
Good luck to you if you get your head on straight and good luck to your co-founder if you don't.