There are many options in how you run your business. You can start a business by yourself or having someone beside you as a co-founder. Both options have their own pros and cons. When you choose to have another co-founder to work with you in running your business, you can share business responsibilities, costs, stress, etc. You have someone you can rely on who truly understand you on a the same level because they work with you. With the same work environment, you also experience similar things and problems. Therefore, you have someone who are not there to console you but to share opinions and solve problems together. What about going solo?
Being a single founder to run a business
Having a co-founder brings you many benefits. However, being a single founder doesn’t mean you have less benefits. There are also positive impacts you can have when you decide to start and run your own business by yourself, such as:
Avoiding unnecessary conflicts
By going solo in running a business, you can avoid unnecessary drama and conflict. You must have heard about how co-founders fighting off each other due to many reasons such as finding solution, splitting profit, etc. Disagreement in opinion can lead to conflict which can affect the flow of your business. You also don’t have to deal with another person’s mood swing or ego. You can focus more on things to help you grow your business better.
You can move faster by being a single founder because you don’t have to consult with another person. When you have a co-founder working together with you, every decision you are going to make should pass through a discussion. You have to make sure that you have mutual agreement before making any decision that involve your business. This makes your business goes slower at some point because you cannot make fast decision on your own. Meanwhile, you can decide things by yourself as efficient as possible when you are a single founder.
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Make your business as unique as you
By being a single founder, you can run your business with a flow that fits your personal style. You don’t have to make adjustment to make it suitable with another individual’s personal style. You get to establish your own culture and values of your business. In addition, you don’t have to share the vision with another person. You have one vision for your business to run. Your business will have clearer direction to head to. Disagreement in vision can lead to disruption to your business in general.
Since you are the only one who own and run the business, the equity is 100% yours. You don’t have to think about how to split the profit and whatsoever with another founder. There is no need to think about how and who to give the equity to when the founder is very clear, it is you. There is also no decision that needs to make to decide the amount of money you can have.