You have a business idea that you believe will rock the world. You have worked your entire life for other people and you are ready to start your own business. You have the experience in the business you want to create and feel comfortable in every aspect of the operations necessary to succeed. You have savings that can be used for startup costs and  a business plan that demonstrates how revenues can be generated within the first six months so that you can bootstrap your operations. You feel confident that you have what it takes to be a successful entrepreneur----- all of a sudden, out of nowhere, you begin to think you need a partner....because? You think:

(1) A partner will give you the opportunity to talk to someone who has skin in the game about what decisions should be made in the business.

If you feel you need to talk to someone about the decisions you will need to make as a solo entrepreneur put together an advisory board - a group of business people who will act as a sounding board for you on a regular basis. Schedule regular meetings - at least quarterly - so that you will use them effectively and pay them so that they will actually have skin in the game. You can also seek out mentors as advisors or hire a business coach so that you will always have someone to talk to. Entrepreneurship is an isolating experience and it is intuitive to know ahead of time that you want to share your stress with someone else. But this is not a reason to get a partner.

(2) A partner can bring in extra startup cash so that you can feel financially comfortable in the early stages of the business and not have to rely on bootstrapping the business.

Believe it or not, if you look hard enough for it and aren't afraid to ask for it, there is plenty of money out there for you to start off your business financially sound. However, bootstrapping your business is not a bad idea in any case. Depending on the business, a slow startup is not necessarily the wrong thing to do. For example, many businesses actually have more success when they are started from home where the entrepreneur has more control over the environment and can work closer to 24/7 which often is necessary at the beginning of a business. Spending cash just because you have it won't guarantee more success. Money is not the reason to bring on a partner. Friends and family have money, Banks, VCs and angels have money. Investors have money. And, one of the best places to find money is from your clients and vendors. Your clients and vendors will benefit from the success of your business and they may very well be interested in investing in it at the getgo.

(3) A partner will bring me the expertise I don't have such as marketing, sales, accounting and/or bring me a built-in customer base.

DING DING DING There you go...you haven't even started the business and you already want a guaranteed customer base, and you are willing to give half of the business away to get it! You don't need a partner to get customers! You need a business plan, a marketing plan, and a strategy! You can hire marketing, sales and accounting expertise. You do not need a partner to do what you can hire others to do.

Yes, starting your own business means taking a risk. With or without a partner, starting a new business is a risk. There are no guarantees in entrepreneurship- but, I promise you that going it alone does not tilt the scale against you. As a matter of fact, statistically partnerships have less of a chance of success. Why? For the simple reason that the effort put into the partnership relationship is effort that could have been put directly into the business.

So, fear not Entrepreneur - you can do it alone - just don't forget to ask for help when you need it. Good luck!

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