What About A Partnership?
I have given some thought recently into getting a business partner to make help give me ideas and to help me build a business. There are some definite advantages and disadvantages to taking on a partner so once you start to ponder the idea of a partnership, it becomes difficult to discard. That’s where I stand right now.
The advantages are that the business can increase its expertise. With more expertise, there is a greater chance to make great sales and be more productive at the same time. It also means that your access to capital is much greater. It then becomes easier to grow your business much larger and it may turn out that slice is pie has gotten a lot bigger.
The disadvantages are that in the beginning stages there is less income available for each partner. Another disadvantage is that you go from autocratic control of your business to one in which you must give up some control to others.
So much to think about….it’s tough…
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