Wednesday, March 31, 2010

Lone entreprenuer or Business partners?

Everyone, I found that from our questionnaires results that 62% of would-be entrepreneurs prefer to work alone. Their reasons being that they feel more secure working alone, problems of miscommunication can be avoided and they can be more self-reliant. Do all of you think that working alone is better or having business partners would be more efficient?

I think that working in a group of 3 would be good. That way, tasks can be divided and done efficiently plus less time would be consumed. When there are business decisions to be made, 2 heads are definitely better than 1. A 3 head system will always get fair results in voting for decisions. Sometimes doing an entrepreneurship alone can be stressful and too much of a burden for 1 individual, especially if their products are hand-made. The workload can be easily spread out among the 3 business partners and the probability of producing a well-made and top quality product will definitely increase.

Therefore, I think that doing an entrepreneurship with business partners is definitely better than being alone. The decision making will be easier, there is less workload on an individual and the products produced will be better in quality and quantity.