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Solo Business or Partnership Business?

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overcast

Up-and-Coming Sensation
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Nov 28, 2019
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I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
 
Solo Business is definitely more satisfying when you've finally started a real business. Unfortunately having a partner helps out a lot if they put in the work. I had a company I started 2 friends wanted to buy into the company, but they just stopped working on it. It sucks because I really want to get it going again but I put in all this work and they still get the credit and income... so this company is on hold for a bit :(
 
I would prefer to start something on my own. It's just a personal preference of mine and nothing more.
When everything goes well, everyone will cooperate but if something goes bad, then no one would try to bare the loses. That's how the world works. They try to blame their partners most of the time.

So, it's better to do something on your own. Of course, it's not an ideal way, but that' just how I prefer.
 
I'm currently sole trading but if expansion is required, I will be considering a partnership or an ltd company. Both sole and partnership businesses have their perks and drawbacks but it's whatever you feel most comfortable with. We each have our own preferences.
 
Building up funds to go solo is pretty difficult to do. If you can find someone that is willing to be hands off in a partnership, I would do so, and insist on paying them back as soon as funds and savings allow it to be paid back, so that the partnership doesn't go too long. Though, there are plenty of partnerships that don't dissolve, a few notable types of partnerships, are law offices, realtor offices and the likes.
 
You would need to majorly check out your partner. Of course, this is assuming this is something very serious to you. Anyway, who has ideas on how to do this? Should only street-smarts be used? Well, demanding an FBI background check could be weird. :sneaky:
 
Partnering with someone isn't that easy since it requires a lot of trust, but on the other hand if you don't have enough to invest all by yourself then you have to find an investment source if your're the one with brains.
 
The problems that arise from the solo business are in my opinion more surmountable in current circumstances than what happened in the past. There are multiple tools or ways to add support that don't require a partner to move business forward. The problems of a business partnership are often deadly for a company.
 
The advantage of partnering is the fact that you just might not have enough cash on hand for a start-up. Anyway, you would have to factor that advantage into the disadvantages like trust - which some have mentioned.
 
It really depends on the business. Some people are capable at running a small business of their own. But, if you want to expand, you're eventually going to need extra help. Sometimes that means you need to hire someone to handle certain aspects of your business, so that you can focus on other parts of the job.

I currently do most of my own work, but I do have people I can call to help with things. I just pay them for whatever help they can provide.
 
I would personally prefer solo business and that's because i know i am going to take all the decisions and I'm going to take full responsibility for what happens. Often when you are in a partnership with someone you end up fighting or breaking up when something goes bad because you blame each other for the mistakes
 
I think that a single business or a partnership has advantages and disadvantages. Single business makes you independent in all decisions, finances, work, just very comfortable but sometimes you will not have the right direction for yourself.
 
Well i am not going to answer of your question. Instead i would like to prefer start your own business without any partnership.

I am in an association with my sibling and we're entirely unexpected for the commitment of our business.. He always ran his ideas, got products and did some research. While I arrangement the entire business. manufacture the site and sell items. He generally do what he enjoys and never persuade with me and sell items without my consent or asking something.

If my partner wasn't my brother i ditch him for sure and do it my own
 
I prefer solo, in time if the business is guaranteed to be successful there will be quarrels.

Start alone & finish alone.
 
A business can be solely owned or be owned by partners. Many factors may result in having a business turn into a partnership even if the original idea came from a person. Those factors could include capital, size of business or project and even the need for support.
What do you think that the best business will be for you? Sole proprietorship or partnership?
 
If it's medium level or large level business than you need a team to handle your business as it's not possible to run business without have people around you and money too. I wouldn't mind to have partner with me.
 
It really depends on the scheme and how big the business is, personally I will prefer to be a sole proprietor, getting another partner has alot of disadvantages
 
I never recommend someone to become my business partner. I had a bad experience with one of my partner. He learns everything for me and in the end he decied to break the partnership and start their own. One man busines is better than partnership
 
James said:
If it's medium level or large level business than you need a team to handle your business as it's not possible to run business without have people around you and money too. I wouldn't mind to have partner with me.
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Yeah! There are times that you can't just do things alone and there may be need for someone who can bring in the help you need.
 
I prefer being the only one running a business. I find it easy making decisions and getting things done when I am alone. I don't like involving people so that I won't experience any hassle. This is what I believe.
 
I think in stage one if it is something you love to do and it s your plan you do it by yourself with the help of others, and if it is not what you love to do it will be in partnership since it is probably what the other loves to do.
 
Ryan said:
I never recommend someone to become my business partner. I had a bad experience with one of my partner. He learns everything for me and in the end he decied to break the partnership and start their own. One man busines is better than partnership
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That is quite horrible and I understand this can cause anyone to be reluctant about taking on a partner in business.
 
I'll rather prefer solo, no fights, no arguements, just me taking the decisions and taking it more faster. Having a partner has his perks too but I'll go solo
 
I prefer to go for solo Business. If you've the expertise and know more about the industry, you will accumulating more money personally for yourself
 
I think if you feel better and more comfortable working alone, that is your option. Perhaps it is more forced, but you will be as you like and without so much concern for the others around you. You will know your responsibilities and you will have to assume them, since there is no one else to do it.
 
Am neutral on this
both sole business and partnership business have there advantage and disadvantage
the type of business is another thing to be consider also
 
If it an online business that requires partnership with top companies , then I will enter into partnership to promote my business
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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I don't know if it's a selfish way of looking at things, but I like to do things my way and make my own decisions so I prefer a business without partners
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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What about your partner? He/she should be helping you to run your business and not do it alone. If that's the case you should just shift to sole proprietorship.

Personally, I prefer to do a solo business. Partnership can be really complicated in so many level. Worst thing could happen is when your partner betrays you.
 
Dear if you have enough capital to start your own separate businesses then you must terminate partnership because there are lot of problems in partnership. If your partner doesn't give time to business then you must say to him about some extra salary for the service may be he give time or terminate partnership.
 
I had a sad experience with a partnership although the issue was not the management. The business was in my name as single proprietorship which gave me freedom. If my business partner would be working with me in the business I don't think it will be good. There might be conflict of interest and probably unnecessary clashes at time. For a solo business operation you have the full power to do what you want to do so at least you can enjoy being the boss.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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With the issue of trust being one of the major reasons some businesses couldn't thrive for long. I rather opt in for sole proprietorship which gives me the full control to manage the affairs of the business. Solo business teaches one how to be self confident.
 
If i were to choose I will go for sole business rather than being a partner with someone else reason is that I love to be the boss of myself and also make my decisions alone without interference from the other party or any other person.
 
I would like sole proprietorship business to some extend. This is because it is just very easy to manage, decision taking too is very simple and most importantly profit will only be enjoyed by me alone.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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Solo business or partnership business as the name suggest means that a solo business is a business that you bear alone.one goes into it alone,if it fails you fail alone .if it wins,you win alone.while partnership requires two or more people come into business together to share profits or lose together. This two types of business have their advantages and disadvantages,both depends on onces reasons for choosing any.
 
Despite having our preference let us have it at the back of our minds that there are some businesses that one cannot do alone we'll surely need the help of others and this necessitate the formation of a partnership.
We can also consider a limited liability company for some kind of businesses
 
Solo business has its advantages and disadvantages and so does partnership business. You just have to go with the one that suits you.

Partnership business often exists when two or more persons want to set up an investment but don't have enough capital to do it alone.
Partnership eliminates the limitations lack of capital could cause but then the business will not be owned by one person and decisions must be taken together.

Solo business is the opposite but it can come with disadvantages especially when you don't have enough capital.
 
Business doesn't work just with the cash. You need to have the legitimate information about the business you start with else it won't require some investment to deplete your capital.

Above all else I will counsel you to begin the business in which you have some information or first addition some information about the business and afterward start it

Also, on the off chance that you need to proceed with this thought of yours, at that point you should go for partnership. Purpose behind the equivalent is they will work with full commitment and monetarily.
 
Types of partnership: Ordinary (General) partnership set up by two or more parties who can be self-employed and/or limitedcompanies and/or limited liability partnerships. An ordinary partnership is not a separate legal entity like a limited companyfor example.
 
I prefer solo business because in this only you have to do manage all the terms and rules of the business. Decision making and all the changes you have to manage alone.In partnership business there is a risk of your partner of doing fraud in your business and you may suffer loss.
 
In theory, a partnership is a great way to start in business. In my experience, however, it's not always the best way for the typical entrepreneur to organize a business. ... Making a marriage work involves handling a volatile mix ofpartnership issues: ego, money, stress, monthly overhead and day-to-day expenses.
 
I believe In solo Business more than partnership Business. To some point I your partner is not that committed to the business it can affect the overall growth of the business if all the burden is placed on a single person. Another thing is if you don't take proper documentation and agreement of the business, profit sharing formula can cause problem.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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According to my opinion solo business is more secure and profitable then partnership business, because in solo business you can develop your business and you can introduce products of your own interest. you does not need to worry about other people choices.
 
The both types of business have their role to play. If you have all the resources needed to start up a business and you also have the experience and knowledge then you can start up a solo business. But if reverse is the case, you have limited resources, little experience and skills, then it is best you partners with someone experienced than you to assist you
 
Starting your own personal buisness gives you a lot of experience,it helps to know where to improve yourself on and where you have lapses.after you must have gain alot of experience then you venture into having a trusted partner to widen your knowledge of buisness.
 
Solo Business is Always Preferable, Because you are not restricted by anyone. Secondly, no one is trustable in the universe except the Allah Almighty. So, I Would suggest you to have a solo business, it doesn't matter how bigger or smaller it is.
 
I prefer running a solo business to a partnership business.... In a solo business I won't have unnecessary headaches due to someone else's incompetence.... I will be able to take decisions concerning the business at any time and implement it without consulting a second party
 
Why is everything on you when it is supposed to be a partnership business? Workload and responsibilities are supposed to be shared. Anyways if you switch to sole ownership, know that you are going to have it tougher. Everything will truly be on you this time, but if you feel it is better, then go for it.
 
Asking if I will prefer a solo business to a partnership business, as for me I would prefer a partnership under the following conditions, a legal ground and agreement is established between us before we start the business because two is better than one sometimes
 
It depends on what you have in mind for business and what the business entails, also the type of person that you're in partnership with.
I can run a solo business efficiently and excel in it as well, and I also have some competent and hard-working friends I can decide to partner with and I'll be sure I won't be the one doing all the job, so for me both are okay.
 
Solo business is still the best thing to do, because it saves you from unnessary headache and problems, although there are some partnership business doing quiet well but the truth is before you get yourself involve in such you have to trust the person so much, he must be someone of integrity, you need to have know virtually everything about the person
 
I think solo Bussiness is better than partnership because Bussiness is up and down possible if your partner is good person not irritated with you that's good for partner ship every person are different think different ideas solo Bussiness I good is your opportunity how the business develop partner ship or solo
 
Depends i guess, if it's like a housing business i can take care of it myself. But if it's a business that requires managing a lot of stuff at the same time. I would rather have someone to share the stress with because I can't do all the decisions myself.
 
@vest1992 Sole ownership of a business is what most of us crave for but I would prefer Partnership. Having a Partner in business makes decision making easier and sourcing of resources tend to be easily done. Two good heads are better than one which will really spur the business to greatness.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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I think the partnership business will be good because in it you have to reduce the investment and on the other hand you have less responsibilities which makes you feel relaxed and easy and in this you also pay the employees. There are some that reduce the burden on you and you can concentrate on the work in a good way.
 
Solo business is the best. There is no way the parties in partnership can be active equally, one had to be more active than others quick makes it difficult to share the dividend. So I prefer soon sole proprietorship to partnership.
 
I will prefer the solo businesss because with little capital, you will formulate your own approach on how to manage and run the business to deliver maximum result that meets up your own taste and targets.
 
Going it alone will certainly give you full autonomy and control of your business, but a partner may allow you to expand into a more dynamic approach. There are benefits to both sides—here are some things to consider when starting up: Partners with different skill sets will also help to spread out the workload.
 
I prefer solo business, the reason is that I like doing thing my way. I like to try new things as I will be seeing my business as experiment lab. My partner my not see things that way and something like this will cause a conflict between us. Even if a friend comes up with pertnership, I am may turn him down, the best I can do is too invest in the business.
 
To my own point of view a solo business helps to prevent any kind of fraud and develops self independence . I most times find it hard to trust fellow business partner because he or she might have different goal to achieve in the business
 
Partnership business some times make you tired from everything because there is burden of things to do in a day or in a hour , it make the person freez like he has to do or complete the work whatever is the condition.
Own business is better than partnership atleast we can handle the work to the employees.
 
Partnership business is good but at a very limited time because there are some extra issues while working together or in partnership.from my perspective do open your own business either it is small or large but it will be in your own hand to set the things according to your desires. Those people who has their own business works with the satisfactory as thee can manage everything properly.
 
For me I would like to start anything on my own. Solo business which is sole proprietorship managing business by yourself can be very nice as a beginner compared to partnership.

Do well to start on your own to receive the credit yourself
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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Being in partnership business involves sharing decision making, it should not involve one person. Partnership to me has its advantages over sole proprietorship. You get to reason together and make better decisions. So if you are in it but still make the decisions yourself, then it is not different from sole proprietorship.
 
Solo business is definitely more satisfying when you started a real business, because it's better to do something on your own, because partnering with someone is not that easy, because it requires a lot of trust,
 
I think both business types have their own peaks and Downsides. For Instace in a solo business there is freedom to make choices solely on your own and management is done exactly as the proprietor wants it which Is absent in ppartnerships type.
 
Partnership business is great as both of you are working to achieve same goals, same ideas etc the list is just endless, i think I would prefer partnership business as it seems to be the best in my own opinion.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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I will always say that when there is no clear agreement to how the business will be run, then partnership business should be avoided. This is the reason I always say that sole business is better when you have the financial muscles to compete in the market. Understanding this will help one know which one to go for.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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I prefer a solo business personally. When you are in a partnership there are always chances that you will disagree and there can be much conflict if there is a difference of ideas. Also when things get rough it becomes a blame game. Having a solo business allows you to make decisions fast and to act fast as well.
 
We have different reasons to do something, solo and partner business have their advantage and disadvantage that everyone's consider before making decisions. But as for me, I will like to start a solo business because I like to do my business and be running it without expecting any body to contribute to it. I will be able to make decisions on my business alone.
 
Solo for me, don't engage yourself into a partnership unless you think you are not capable of handling things alone, partnerships are mostly flooded with issues and troubles that are hard to solve, not only you get more profit when working solo, but also less problems to encounter!
 
I prefer solo business hundred percent than paternership business. If you have your capital and good business ideas to start up your own business you do not need a partner in business for any support. The main reason why people go into partnership is because they lack one potential or the other, some might be because of finance or business ideas.
 
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.
 
both solo business and partnership business have their own advantages and disadvantage and one man's meat is another man's poison. To me it will be better to run a partnership business for a starter because it will make d business balance and u have helping hands to help in the discharge of duties and assignments. another thing is humans are borne with imperfections,if one person is efficient in labour and the other person has capabilities in capital,this will make the imperfections perfect.
 
Going it alone will certainly give you full autonomy and control of your business, but a partner may allow you to expand into a more dynamic approach. There are benefits to both sides—here are some things to consider when starting up: ... Partners with different skill sets will also help to spread out the workload
 
I do not advise anyone to go into partnership business anymore because at the end of it they will always be a disagreement between both parties I'll prefer that you start up your business small as much as you can and grow it to the best of your ability with this you will enjoy the business more than partnering it with someone.
 
BrolySSJ said:
I prefer a solo business personally. When you are in a partnership there are always chances that you will disagree and there can be much conflict if there is a difference of ideas. Also when things get rough it becomes a blame game. Having a solo business allows you to make decisions fast and to act fast as well.
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Partnership business is the best. If you are in a partnership business you are going to grow beyond measure.
For instance there are group of companies e.g Dangote group of companies. You can not compare the level of development and growth of a partnership business to that of a solo or one person business.
I love partnership than solo
 
Sole proprietorship is the best form of business over partnership any day for me due to so many reasons. Some of them are owner of a sole proprietorship business doesn't share his profit with anyone, he take the decision for his business by himself without having to consult with anyone else.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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They are both good, solo business is okay if you have the financial capability to support the business and if you don't have that financial capability then you might as well stick with your partner and discuss roles, partnership run enterprises will work more smoothly if all parties understand their role in the business.
 
GIFTMICHAEL said:
Partnership business is the best. If you are in a partnership business you are going to grow beyond measure.
For instance there are group of companies e.g Dangote group of companies. You can not compare the level of development and growth of a partnership business to that of a solo or one person business.
I love partnership than solo
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A partnership business is nice because you are able to split the workload between the two people. However the only concern that I have is that when there are decisions to be made, it can be quite difficult, especially if you have a difference of opinion. In terms of growth I think it's mainly related to the type of business that you are involved in. In my opinion a solo business can grow just as much as a partnership business if handled right.
 
Solo business will satisfy you more than in partnership. But it has disadvantages too, as only you can handle this and will have to show responsibilities yourself. Plus when there will be a loss it will only be beared by you. In partnership scenario will be different.
 
Sad but I will go with solo business. I said it’s sad because you can hardly find a partner that is willing to cooperate with you honestly. When the business starts to make profit they get greedy and the business starts to go down
 
BrolySSJ said:
A partnership business is nice because you are able to split the workload between the two people. However the only concern that I have is that when there are decisions to be made, it can be quite difficult, especially if you have a difference of opinion. In terms of growth I think it's mainly related to the type of business that you are involved in. In my opinion a solo business can grow just as much as a partnership business if handled right.
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You are right for this explanation.
We all know that partnership business has it's disadvantage but despite the disadvantage it is the still the best.
I can not rule out the fact that solo or personal business is also good on it's own
 
From your write up it seems your partner is not doing enough in that partnership and that is why your are in this situation.if that is the case I will advise you to go solo.
 
Solo business will certainly give you full autonomy and control of your business, but a partner may allow you to expand into a more dynamic approach. There are benefits to both sides, partners with different skill set will help to spread out the workload while one man business bears the load alone
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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If you have the resources and you think you can handle the business on your own, then you should do the business alone. The business I do alone can be better and more profitable.
 
GIFTMICHAEL said:
You are right for this explanation.
We all know that partnership business has it's disadvantage but despite the disadvantage it is the still the best.
I can not rule out the fact that solo or personal business is also good on it's own
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To a large extent I think that it is dependent on the person and their characteristics and what they see as the future for their business. For example there are some people that thrive when working alone and cannot work with others, or that prefer to do things themselves for peace of mind and in this case I think that it makes complete sense that you would choose solo. And some thrive in partnerships. At the end of the day, it is a personal preference. :)
 
At my present time, I prefer partnership because I have have done a lot of business alone and at the end it fails because I don't have a partner to challenge me interms of the management. Because when you have a co owner, you can't take decisions with him or her notice or meeting. There are some situations that will need Solo business because of the issues involved in partnership.
 
I personally do not like a partnership business because at some point in the business there is a higher possibility that one-party Might rise up against the other one in terms of agreement and every other thing so sometimes I always advise people who want to come into business to try as much as possible to start their business themselves and grow the business to their full potential with this you will enjoy the business more, with this you will be happy in the business you are going to.
 
overcast said:
I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?
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Partnership business is good only if the person you're entering into partnership with is as dedicated to the endeavour as you . Otherwise, you should find a way to be on your own for a while before finding someone that has your kind of zeal an passion to go into partnership with.
 
BrolySSJ said:
To a large extent I think that it is dependent on the person and their characteristics and what they see as the future for their business. For example there are some people that thrive when working alone and cannot work with others, or that prefer to do things themselves for peace of mind and in this case I think that it makes complete sense that you would choose solo. And some thrive in partnerships. At the end of the day, it is a personal preference. :)
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Individual differences is one thing too. Not everyone will accept to partner in terms of doing business.
There are so many people out there that believe in themselves we need to understand all of this.
IAM not of the opinion that partnership is all the best but to me I prefer it to the later.
 
Sotherefore said:
I personally do not like a partnership business because at some point in the business there is a higher possibility that one-party Might rise up against the other one in terms of agreement and every other thing so sometimes I always advise people who want to come into business to try as much as possible to start their business themselves and grow the business to their full potential with this you will enjoy the business more, with this you will be happy in the business you are going to.
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I was glad to find this post because I think the same thing, as you clearly describe "there is a greater chance that one side will confront the other in terms of agreement and everything else". , as usually these things happen, and enmity and intolerance ensues.
 
Its never easy to run a solo business. But with capital, better plans will drive that business to that lane in which the investor plans it to go. I love to manage my business as a single man, and not in partnership with anyone.
 
I think partnership is a better business prospect if you are new to business. If you are new, you have limited skills and knowledge and you can always benefit from your partner.
 
There's is a high possibilities that problems may arise in a partnership business because there is a higher chance that one party can betray the other one, i rather take a risk and started my own business.
 
Generally, people select the partnership because they don't have much money to enter the business, so they collaborate to do it in a good way; however, if you're a rich man and can do it lonely, I prefer this one better.
 
Anis Boukezzoula said:
Generally, people select the partnership because they don't have much money to enter the business, so they collaborate to do it in a good way; however, if you're a rich man and can do it lonely, I prefer this one better.
Click to expand...
Yeah, the reason why some persons venture into partnership business, based on low financial strength. In order to keep their dream business alive, they need to partner with someone that got money to sponsor such idea to come into fruition. Had it been, their is money, some wouldn't try it, entering into partnership with anyone.
 
Taimoor Jutt said:
Solo business will satisfy you more than in partnership. But it has disadvantages too, as only you can handle this and will have to show responsibilities yourself. Plus when there will be a loss it will only be beared by you. In partnership scenario will be different.
Click to expand...
Most times running your business yourself also make you more mature and you are more priviledge to earn more money . So i think its best to go for a sole proprietorship
 
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