Single Player or Multi-player
When you start your own business, it is critical to ponder if you would include a partner or not. James Schramko, a known internet marketer and successful businessman relates it with a playstation, where a single player mode gets you a bigger screen and requires more personal accountability. Multiplayer gets you a smaller screen and companionship.
Certainly, there are risks involved in putting up a business and risk tolerance of every individual differs. If you want more income or revenue and you can deal with a higher risk, then being a sole proprietor can be an option for you. But if you are someone who cannot afford to risk it all, then certainly, you can check for a partner. This decision though can mean sharing of profit and risk.
Decide on what’s best for your company but if you believe in your product or service to be embraced by your target customers then as much as possible, own the company.