Solo Business or Partnership Business?

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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?
 

Steven

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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 :(
 
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Claraviolet

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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.
 

Alexander

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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.
 

Joshua Farrell

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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.
 

jyy

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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:
 

Kris_Cooper

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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.
 

Crazyjesus

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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.
 

jyy

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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.
 

Grant

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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.
 

Vladv26

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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
 

trần quyên

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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.
 

Aaron1

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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
 

Niftyyem

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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?
 

James

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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.
 

Ureka

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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
 

Ryan

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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
 

Niftyyem

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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.
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.
 

Bookwormlux

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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.
 
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