Business partnership or rule your own business?

[Gilgamesh]

A lot of you maybe confused into what do type of business is better. I'll try to help you in knowing it, in my own opinion ruling your own business will much likely polish your skills even more in holding pressure and staffs. It will make you grow bigger and also you are the only boss in this kind of business. Yes, I know that you can make a decisions instantly unlike business partnership that needs the approval of your partner and with that kind of view we must ve very be careful in deciding. Consult the veterans in that field you want tp enter before making a decisions. In the other hand, business partnership isn't that bad either but the possibility is high that at some point of your business days of your partner you will have a confilct that may shut down your business. So what is your opinion? Correct me if I am wrong.

 

[Jelineex]

I personally prefer ruling my own business. Because I don't want any arguments or conflict in the end. It's best to decide on my own. Taking sole responsibilities will be of great advantage since you get to learn from it. You know when to balance and resolve problem. It will test your ability and capacity in handling your own business.

 

[Jeedae]

They both have their advantages and disadvantages. Having and making decisions in your own business is good because what you say is the final, you don't have to seek a third party opinion. However, if there's a loss in the business you bear it all alone and this may lead to the end of the business. But if you're in partnership with someone, you both can share the loss as well as the profit.

 

[Seyesystem]

I prefer to have my own business alone I don't like partnership because partnership is samal complicated.
The only thing that can make me go into partnership business is if I don't have the required capital to study business alone because I know that partnership business is somehow difficult and risky sometimes.
Partnership business is very complicated in doing partnership with any person make sure that the role and sharing formula is documented. Partnership business is very good to do especially when you have a good and reliable partners in the business but in order not to have future conflicts in the business you must have a documented partnership deed which will states the sharing formula of the profit, duties of every partners and other important things. In business many partners do have serious conflict but once you have the documented your partnership deed you will have rest of mind.

 

[Alexandoy]

It is always single or sole proprietorship which is the best type of business for me. When you go into a partnership how would the arrangement go – who is the boss and who is the 2nd boss? There cannot be 2 bosses on the same level. So what happens is one partner will be the dominant and the other will be the subordinate. Would you like that arrangement? It is good if you are the dominant partner otherwise you might as well forget partnership.

 

[Ummigal]

Well, partnership business can also be sas successful as a one-man business if the partners are committed. Each of the partners capacity in the business should be equated to a fare share of the profits. So long as none of the partners are greedy, there would be a high potential of success of the business in the future as each would contribute genuine efforts and all resources necessary for growth. More discussions would be made about the progress of the business as each partner would guide the other and help put things in perspective.

 

[Bookwormlux]

A lot of you maybe confused into what do type of business is better. I'll try to help you in knowing it, in my own opinion ruling your own business will much likely polish your skills even more in holding pressure and staffs. It will make you grow bigger and also you are the only boss in this kind of business. Yes, I know that you can make a decisions instantly unlike business partnership that needs the approval of your partner and with that kind of view we must ve very be careful in deciding. Consult the veterans in that field you want tp enter before making a decisions. In the other hand, business partnership isn't that bad either but the possibility is high that at some point of your business days of your partner you will have a confilct that may shut down your business. So what is your opinion? Correct me if I am wrong.

I agree with you. Sole proprietorship is way to go for me. I do not bother myself about involving another person in any business that I am doing, I love that feeling when you realize you are the one at the helm of affairs, no one to blame whenever something goes wrong and also no one to take the credit after you may have made it from business.

What you said about having an issue with your partner is very true. The only person I could freely partner with in a business would be my wife, I am sure that she is not going to do anything that would make me lose, but would always want us to succeed in business.

 

[Deleted member 27583]

I will always advice to

A lot of you maybe confused into what do type of business is better. I'll try to help you in knowing it, in my own opinion ruling your own business will much likely polish your skills even more in holding pressure and staffs. It will make you grow bigger and also you are the only boss in this kind of business. Yes, I know that you can make a decisions instantly unlike business partnership that needs the approval of your partner and with that kind of view we must ve very be careful in deciding. Consult the veterans in that field you want tp enter before making a decisions. In the other hand, business partnership isn't that bad either but the possibility is high that at some point of your business days of your partner you will have a confilct that may shut down your business. So what is your opinion? Correct me if I am wrong.

I will always advice to do your business on your own if you have everything capital to start your business,because joint business like a partner in a business don't always go out well at the end of the day...

If you partner with a friend to start a business ,when the business you guys want to execute involve a large some of money,when you guys execute the business,one of the partner may be greedy and want to take all the money for him self..

That could lead him sending assassin to help him assassinate the other partner..so all am trying to say now is that everyone should go into there business all alone ...
Having partner in business has a very great danger ..so please stay away in such act ...

 

[Janiya]

I was there instead of you I will definitely rule myself and will like to start my own business because in partnership there are so many issues that arise letter so I want to stay from all these issues and problems and work myself and rule on other I will always like to have my own business without partnership I don't like personal it involves other II in my business because after some time they create problems and demands for something other which I cannot pay them without any reason partnership either it is in family member or outside the family I personally avoid these type of things and want to have my own business without partnership there are so many people who has started the business in partnership are facing difficulties in business if those who want to stay away from this type of things and problems start your business alone and work and rule there alone this will be better and much better for you and your future.

 

[Sammyesx]

I believe the intension of a new business owner or a business owner in general is going into a sole proprietorship business, the motivating factor to most partnership business is the lack of sufficient capital to fund or start the business, which makes them start looking for partners. A sole proprietorship has the advantage of having to All the profit to your self and their lies also the disadvantage, in partnership the lose oof the business is shared amongst partners unlike in sole proprietorship where only the owner suffers The loss.

 

[Maks25]

in any business, it's critical for the partners to define the Vision and Mission of the venture as the very first step. If all brains aren't going in the same direction in the same way, problems are bound to arise.

The motives for each partner can be different. The overall objectives and methods, however, need to be the same.

Tom chose to partner with Dominic because each saw the market need for a commercial kitchen facility. Tom was a commercial contractor who had worked on restaurants and catering facilities. Dominic was Manager of a cooking school and well connected within the food preparation industry. Their agreed upon Vision was a 2,000 sq. ft. facility that would have 3 shifts of production, serve as a test kitchen for the cooking school and contract with other long term and project clients.

 

[Olajidey]

The two have their advantages and disadvantages
I will share a few advantages of a partnership, the partner can raise some reasonable amount of money for the business
The partner also bring advice and they pick the best like an adage says two head is better than one
Having a partnership will relieve you from the financial burden.
The partnership makes it easy to explore more opportunities since they have enough time to explore.
They also share responsibility on the ruling of business.