Activity

  • andria93 replied to the topic Partnership characteristics in the forum Business 101 6 years, 7 months ago

    As all of you mentioned that the difference between solo and partnership is basically the same, However you divide the financial responsibility on owners in the partnership. But each still has a responsibility attached to his personal entity. I’m sure we all have examples and know some good and bad partnerships business models so the characteristics and vision of both parties should be synced up and close to each other to success otherwise it will case opposing and different of direction in the future. For me personally, If I consider a to have such a business, I would like to make it myself if I can support all the financial. If not I will be very careful to select a partner that I can trust and know his way of thinking and his goal. I’ve experienced partnership that can case business to fail because of personal issues. Also, you can think about a project partner in school that same way, You could have the greatest idea and end up failing because of your partner. So you have to be very careful when choosing a partnership for business if it is a solo business or even big companies when they partner together. It can cause big damages in the long run.