Pairing Up
Are two heads always better than one? Know the good and the bad sides of business partnerships.
You've wanted to start a business with your best friend foryears--or perhaps you know a business associate with complementaryskills whom you feel would be a great partner. While it'stempting to go full speed ahead, parse out the pros and cons beforedeciding on a partnership. Though there's no single answer foreveryone, two experts weigh in to help you decide what's bestfor your business.
Pro:TerriZwierzynski, a business coach and founder of Solo-E.com Inc. inCary, North Carolina, likes partnerships because two people can geta lot more done than one person, and each partner can work in theirrespective strong areas. Partners might also have differentfinancial resources to call upon for the business--which doublesyour network. Particularly if you're close to the personalready (a friend or family member), you know that person'swork strengths and habits. This person can also see the areas youmight be blind to.
Cyber Monday Subscription Sale - Unlock this subscriber exclusive article and more for 50% off.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get 50% off an annual subscription today. Just use code SAVE50 at checkout.
Entrepreneur Editors' Picks
-
How an Encounter With the 'Armpit of Destiny' Helped the Founder of Grubhub Take His Business From His Apartment to a $2 Billion IPO
-
You Can Train Your Brain to React to Stressful Situations Better. Here's the 3-Step Process.
-
How to Stay Organized and Productive While Working From Different Locations
-
A Disastrous Valentine's Day Inspired This Founder to Launch Her Own Floral Brand. It Became a Celebrity Magnet With Retail Revenue Up 450% Since 2019.
-
What Is Your Dream Job? Ask Yourself These 4 Questions to Find Out.
-
This Is the Crazy Process This Juice Franchise Went Through to Get USDA-Certified Organic. But It Sure Has Paid Off.
-
No One Would Rent Me a Café in Trendy NYC Neighborhoods, So I Tried Something Risky. Now I Have 3 Coffee Shops.
