I started My Online Start-Up  with a best friend of mine as a business partner, after a while I split ways that in the very first place, we could never have had a professional relationship. Just because someone is your best friend, partner and long-time co-worker or valuable person, that person is hardly eligible as the best candidate to be your business partner.

Typically, the right partner is someone whose talents and approach are the polar opposite of yours. The first means that, without extra personnel, you can cover even more territory. The second can produce friction, but before you waste resources, it will cause you both to protect your business instincts and weed out smaller ideas.

 

Different people, different taste!

Decision-making will be sluggish relative to running a company as a sole trader, as you would need to meet and negotiate matters with your partners. Back to my experience, I prefer to be a solo owner rather than having a business partner for a small business. Instead, I found that having some third parties for my marketing challenges, help me make the best decisions and at the end I have some option to choose by myself and nobody else can make the final decision.

_Source: Johnathan Korchak

 

In the next blog I am going to explain more about competitors and how I dealt with them and what I gain.