Before you decide to go into business, ask yourself some tough questions. Look yourself straight in the eye and get brutally honest. Should I go into business with a friend or do I have what it takes to go it alone?
You might know a family member or a former colleague who wants to go into business with you. Maybe they’re putting on the pressure, giving you all kinds of guilt. Think of the cash flow — two people means half the expenses!
It’s all about knowing yourself and if you don’t know yourself well by now, you’ll soon find out in business. Maybe you’ll f*** up, but who cares? Part of the journey is the learning process and having fun doing it.
So ask yourself:
Am I a risk-taker? A fast-mover? Do I have great ideas and run with them?
Or do I like to weigh the options? Do I prefer a collaborative decision-making process? Do I like the idea of sharing the burden with a partner?
I know of many successful people who went into business with friends or family. Hell, look at how many famous companies there are like that. But for me, I go it alone. I’ve worked with friends and it was great. We had a good time and we made money doing it. But it’s like I said to the people at YEC:
Would you go into business with a friend?
“No. Been there. Remember, someone has to be the decision-maker at some point, which will eventually annoy the other person.Go it alone and tell your friend you’ll take him or her on vacation when you make it big.” — Small Business Trends.
So what about you? Let me ask you the same question: Do you have the chutzpah to go it alone?
There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else — Sam Walton
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I’m the founder and CEO of Fitmark. Check us out at www.fitmarkbags.com