As tough as it is to try and work out personality differences, there are some great reasons to get into partnerships when the right opportunity comes along.
1. Reduce the learning curve
It's nice to start a business. However, since you have never done one before, it's safe to say that you have a lot to learn. Even if you know your craft in and out the business aspect as a second skill that must be mastered in order to achieve success.
2. Get more done
Divide and conquer. You can get more done and do the things that matter the most. Also, you can solidify better ideas through the meeting of the minds. You can also operate more in your strengths. Whoever is better at the job should get it. There will be some thing one person will volunteer to do.
3. Come up with better ideas
One of you might come up with a suggestion based on past experience or research. But then the other person has something else to add to it. The combined brain power yields better, more creative ideas.
4. Make more money
Why fight hard to keep a small pie? A big pie (even half of it) is enough to put the the small pie to shame. In other words, more money can result from the team effort than each individual's efforts.
5. Decrease risk
As a business owner, you will risk and risk ... and risk money trying to make it all work. If you are splitting the costs and liabilities, it will be a little easier to solve the cash-flow problem small businesses run to.
6. Motivate each other through tough times
It's going to get hard before it gets easier. It easier to fight as a group through tough situations.
There are definitely drawbacks but much more benefits to business partnerships.
What did I miss? How do you feel about business partnerships? Comment below.
Ruth M. Haines
Your Online Marketing & Business Coach
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