Why a team can succeed better

Sometimes a team can succeed better

Being an entrepreneur can be a lonely job. Having to run your own business on your own can be tough and challenging. As entrepreneurs, you are supposed to be an expert on several things. This assertion can be hard, especially for innovators and technical people.

In some cases, finding other people who have complementary skills may increase your chances of success. For example, Hewlett was a technical genius and Packard was a business guru. The combination worked for Hewlett Packard. Either men might have struggled on their own. The same can be said about Apple’s Wozniack and Jobs. There have been other high profile partnerships as well. Munger and Buffett is another successful team.

There are other benefits of working with others that can complement your skills. If your struggle with marketing or HR, finance etc, then you may want to ask the right person join your team. In many instances, just having others to discuss your issues and problems with may help to resolve common issues. This can also help to ease the stress of working on your own. Bill Gates and Paul Allen ‘s partnership was instrumental in the success of Microsoft, so don’t rule out a partnership.

Forming a partnership with others have their own challenges, so make sure you work through some of the details of the agreement. Let the roles be clear and make sure you can work well with the selected team members.

Another way to increase the chances of your entrepreneurship success is to have a ‘sounding board’ or a group of advisers you can contact or discuss issues with. Advice can be important and critical. You don’t have to have all the answers, but if you have people in the know, why not ask them.

If you have a network of friends, even old classmates, you can call on, why not. Family members and friends can also provide valuable support, so tap into that critical resource.