Which Is Preferable? Having A Coach Or A Partner In Business

[Rachael]

In setting up a business venture, we all have our preferences both for business owners and potential business owners. Now, as a coach, his or her major role is to guide a business owner through his or her own experiences to equip the business owner in avoiding pitfalls, while the role of a partner is to complement a fellow business owner in terms of; finance, technicality and administratively. In my own personal experience, I would prefer to operate my business with just a coach or a mentor but in reality, due to financial constraints and to make the workload easier, I constantly find myself in partnership. Partnership in business makes the workload easier for both parties which comes in terms of; finance divisibility, the risks, and the decision making process might be better with two good heads. Sole-proprietorship has to do with an individual overseeing the entire growth of the business. The workload is on one single individual, which means he is in charge of; finances, creativity, technicalities and all the risks associated. Some other business entrepreneurs prefer to work alone, but with the guidance of a coach or mentor but this too could be limiting, because no one is an embodiment of absolute knowledge and he might end up making mistakes because what works for Mr. Alfred might not work for Mr. Bernard. Which is your preference in business?

 

[Kendy]

Both are preferable which is all dependent on an individual's choice. Partnership in business would have been preferable but due to the constant dishonesty and biased nature of man, it makes it harder to trust people. I have encountered so many problems with partnership and I would never take that path. Recently, I decided to partner with a friend to store palm oil so we can resale when there is scarcity or hike in prices. We both raised the capital and bought the necessary equipment and tools like; galoons, funnels, jericans and planks yet this lady took all the oil and sold to somebody because the oil we purchased was in her own location due to the limited space in mine. It was so shocking that she could sell the oil without letting me know and when it reaches the peak hours which was early January, when I called her, she kept on giving excuses that she had traveled. I later discovered that she sold the oil and used the money for her welfare. I did not know what to do because I could not report it to the police since we had no legal agreement and there was no evidence. Having a coach who guides you is the best option.

 

[Jasz]

People often assume that it’s better to have a coach than a partner in business. In many ways, this is true: a coach will be there for you when you need them and can help you make your business better, but they will also leave you in peace when you want to be left alone.

When it comes to having a partner in business, however, there are two major things to consider. The first is that the partnership is going to last much longer than the coaching relationship. With coaching, if you don’t like your coach after working with them for a while, then you can just find another one; but with a partner in business, if the partnership doesn’t work out after working together for some time- well then chances are it never will and you’ll have no choice but to break up.

The second thing to consider is that while having both coaches and partners can help you achieve success quicker than if you worked on your own (which is why these types of relationships are so popular), having just one person who knows about all aspects of what goes into making something happen for themselves can actually be better. This means that their ideas won’t get lost in translation between two people who don’t