Is a Business Partnership Right for You?

Brad Sugars for Entrepreneur.com posted a great article about things to consider when choosing a partner and deciding whether or not to go in to business on your own. The article can be found by clicking here.

The best point here in my mind is #6 (any successful company needs one person in charge). I can’t stress enough that every business must have a single person that is responsible for making day-to-day decisions. In the daily grind of owning your own business, a number of quick decisions must be made in order to keep your business projecting forward. It’s important to have one individual that is completely responsible for making these decisions, and is willing to take the heat for making the wrong one.

It’s also important to note that partners will disagree on certain decisions at many points within the life of a business. Adequate business planning can help reduce future issues by keeping all partners focused on the future goals of the company rather than short-term gain.

All of the points made in the article should be considered when developing your business plan. To purchase a business plan template from Optimus Business Plans, click here. For more information on Business Plan Development from Optimus Business Plans, click here.