Being a Single Proprietor is the best

Kakashi2020

Active member
I've opened several businesses in the past with friends, coworkers and sometimes investors, and it didn't worked well so when I had the chance, I tried opening up my own little business and it ran smoothly, thats the time I realized that the best way to have a business is by being the sole proprietor. Because it gives me less stress when it comes to decision making and if the business doesn't hit its quota then it's my fault, no pointing fingers, no quarrels.

What are your thoughts on this?
 

Martinsx

Active member
Yes, it's true that when you run your business all by yourself, it seems to be more smooth than have to worry about what XYZ are doing and not doing. This is just the short sight part of one man business because the truth is if you want to grow, you need more tentacles to spread your business all over.
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This is why it's very important to have a structure on how you intend to grow your business with partners. Without structure, partnership can't work as some would be working more than others while some are just getting benefits by being lazy. But with a well business strategy and structure set in place for your partnership, everyone will give their all for the business growth.
 
S

stormbreaker10

Guest
It seems, you have a good decision in opening your business now. It is good to become solo prioprietor if your opening a new business because you can choose whatever decision you want like slow facing for advancing in business and what image you want in your business. Also it is good to become solo prioprietor first then look for investor rather than having a partnership in business. The only cons i see on solo prioprietor is you need large sum of money to start a business also having a hard time to manage the business like managing to get permits etc. Therefore, in the end of the day it really depends on you of what your comportable set-up of system type of business you really want.

Peace Out!!
 
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