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Going it Alone vs. Partnerships

July 7, 2010

Tracy Higginbotham

For the past fifteen years I have answered hundreds of business questions from women entrepreneurs. The one question that comes up frequently is, “Wouldn’t it be easier for me, and more successful for my business, to take on a partner?” My response has always been “no” for the multitude of reasons I’ve gleaned from women who have experienced poor business partnerships. Most of the relationships ended because each woman wanted to run the operation her way.

Having celebrated Independence Day a few days ago, the thought of running a business independent of a partner’s influence rang louder in my mind than the Liberty Bell. Having recently witnessed the demise of a company’s partnership with another, I honestly believe women entrepreneurs should operate their businesses with 100% authority. If physical, mental or financial assistance provides comfort and support to a woman contemplating a partnership, I suggest they find a more successful solution to their needs by hiring someone, not partnering with someone. Conflicts always seem to arise in partnerships when it comes to decision making and control.

As hard as it is at times to be solely responsible for corporate performance, financial responsibilities and business choices, it’s still better to be the only one responsible for the decisions so success or failure rests on one person. Partnerships can survive successful decisions but typically not poor decisions. When it’s only up to you to make the decision, you live or die by your choices; and in most cases you’ll live by and rejoice in your choices.

Today’s blog is to remind you there is great freedom that comes with being a woman business owner. Choose wisely before giving your freedom away in partnerships. Brave, independent women must believe they can succeed on their own with the secondary support of staff and advisors, not the primary support of a partner.

Rejoice in your independence today and all year long especially if you are a woman entrepreneur who wakes up every morning ready to face the world with her own daring choices. 

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