What Is a Start-up?
As we know, a start-up is a new business, and every new business has something it offers to society either positive or negative. These start-ups, although they provide benefits most times, are not always accepted by the community or their potential customers. These entrepreneurs are most times desperate to try to get their audience or potential customers to the fullest possible because they must have either got a loan to begin the business or must have used up all of their savings to start it up and to keep it all running.
As such they venture into finding out quick hacks to get their business out there. Then they find the one decision that they say makes start-ups successful. What is that decision? The decision involves trying to start a business with a team, rather than as a single founder. So, we will discuss why deciding to start your business on your own is more beneficial than starting with a team. How has it benefitted most founders that started up their business on their own?
Why Starting Alone Is Better?
It is much easier for a one-man entrepreneur to wake up in the morning and plan regarding a particular action that might affect the business positively, and through the work, he/she can make more decisions. But it will be otherwise for a person who has to contact his/her workmate before making a decision, it might even take more time, especially if the member lives far off and the only means to communicate is via the internet or through a phone call. Such time wasted can affect the business especially the start-ups because unnecessary delays can make clients feel that those running the business are not serious with their business.
Start-up’s with more than one founders are less likely to grow fast
Decisions might also be hard to make because each person will have to consider how the decision might affect his/her time and relationship with others, as such some business moves that might have been done by just one person who is willing to sacrifice such things might be suspended to avoid unnecessary feuds. The start-up will also lack bold moves and courage to take chances more than a single-man entrepreneur because the other partners because of their upbringing, status in the society, and some other factors will want to discourage a person from a particular task which might as well help the investment
Note: it is just a start-up and not a full-grown investment.
Handling each other’s differences
There is no way there will be no mistakes or actions that might hurt another, especially when more than one person is involved. As such, the guy who might work hard to get things done might feel betrayed if his/her other partner is not putting as much effort as his/her partner(s) is/ are putting into the job required to be done. There might also be unavoidable mistakes which might affect the other partner’s emotions negatively, as such, such negative reactions might impede creativity and productivity which is very much required for businesses that are just starting up because the individual might feel bad for them, and might continue thinking about their actions especially when he/she remembers that he/she cannot work independently of the other person
Although agreements will be made as to the percentage of revenue that should be kept for each individual and the organization. As such, the revenues set aside for the other teammate might have been used to boost the business since at the early stage, the other team member can only do few things, which I am sure only one hardworking individual who is passionate about making his start-up a full establishment will do.
The money generated during start-up might be enough for just one individual, but when it is shared, the money that gets to each individual, in the long run, might discourage him/her especially the owner of the investment or the most hardworking to consider that working for someone might be better. They might even pay for space and everything useful for the job in two or more places since they have both must be comfortable while working.
Did you know? The study on those companies suggest the fact that revenue at companies with multiple founders is lower than at companies with a single founder
How have founders benefitted from working along with the fact that single founding organizations thrive better than multiple founders?
Many organizations around the world today started with just a single founder. Although most of them now series of teams that make them work today, they cannot deny the fact those moments of working hard alone or with their spouse if they were married, moments of joy when they received their first pay and then used it for what they wanted to use it for, pushed them to what they have become today. So, if you want to start up your own business, you need to see this. Also, too, if you already have a team on your start-up, don’t be discouraged, keep working hard, one day, it will work for you.
Here are some tips that might help you if need to work with someone
- Do not feel discouraged that you need to work with someone, working with your spouse is one of the best ways to start up a business because there will be flowing love, which will easily cover up most mistakes, cause you or your partner to explain to one another each other’s flaws
- Make a person the head of your organization
- Create a work plan for yourself and your partner set out the amount of work that needs to be done in each day
- Write out and discuss what new things should be added to the organization, based on the revenue received from the previous month, it will make no one feel left out.
- You might also discuss that the amount paid will be a certain percentage of how much revenue will be generated.
- Show love, empathy and consideration to your teammates over your clients, yes, that is essential because humans generally need those to work well and wholeheartedly which will affect your business positively. Also, too, if your clients see that your workmates are happy, they might be moved to want to feel that happiness, by patronizing you
Shehnaz Ali Siddiqui is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.