dereklirus
New member
Hey guys I’m currently working on a startup and I’m running into a dilemma.
I’m 21 years old in the process of starting my first startup company and I have everything in place except for the funds at the moment. The business model that I’m getting into hase very little start up cost. I’m estimating it to be around $30,000. I don’t have a problem getting the funds for the business. I have a very hefty savings account but I just don’t want to risk my money which as I’m told is usually how it is.
Anyways my dilemma is that as a first time business owner I’m torn with the decision of if I should get a loan to do it my self or if I should have a partner come in with me. I come from a family of successful business owners. Both of my grandfathers own or have owned a few each, my great grandfather and uncles as well. I want to be able to go in and do it all by myself but not so much for my ego but to be able to prove to myself and others that I can do it. I have people who are interested in my idea and business model that have offered to buy in but then I would lose equity. I see it as I’ve spent the last 4 months researching, crunching numbers, and combing up with a business plan on my own. I just keep telling myself that in the end I won’t have to split my profits or have to ask/ negotiate doing something in my own business.
I know that I’ll have successful business owners in my corner to help. Just asking from some of you who have been down this road who went all in by yourself did you wish you had someone in it with you? Or the other way around if you went in as a partnership did you find that harder?
Thanks for the help!
I’m 21 years old in the process of starting my first startup company and I have everything in place except for the funds at the moment. The business model that I’m getting into hase very little start up cost. I’m estimating it to be around $30,000. I don’t have a problem getting the funds for the business. I have a very hefty savings account but I just don’t want to risk my money which as I’m told is usually how it is.
Anyways my dilemma is that as a first time business owner I’m torn with the decision of if I should get a loan to do it my self or if I should have a partner come in with me. I come from a family of successful business owners. Both of my grandfathers own or have owned a few each, my great grandfather and uncles as well. I want to be able to go in and do it all by myself but not so much for my ego but to be able to prove to myself and others that I can do it. I have people who are interested in my idea and business model that have offered to buy in but then I would lose equity. I see it as I’ve spent the last 4 months researching, crunching numbers, and combing up with a business plan on my own. I just keep telling myself that in the end I won’t have to split my profits or have to ask/ negotiate doing something in my own business.
I know that I’ll have successful business owners in my corner to help. Just asking from some of you who have been down this road who went all in by yourself did you wish you had someone in it with you? Or the other way around if you went in as a partnership did you find that harder?
Thanks for the help!