Here's what you need to consider before taking on a business partner

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As an entrepreneur, you benefit greatly by starting your own business. The vision, the capital, the decisions and the responsibilities rest on your shoulders. There comes a time when you might consider taking a partner. Whether early or after you are established and ready to take your brand to the next level, the decision for one should not be taken lightly. When it comes to choosing a partner, choose wisely.

, and running a business with someone else have many similarities. At first, things are exciting! You spend all of your time together enjoying your similarities and making big plans. As your relationship routine develops, you start to think and talk the same way — you even finish each other's sentences. But when the honeymoon phase is over and challenges start to surface, some relationships weather the storm and others sink like the Titanic.

Similar to a messy divorce, you can't get through this without extreme difficulty. It takes a long time to go through all the legal steps to properly form the partnership, but it can take even longer and be more difficult to separate, so it's important to be very strategic from the start.

Of course, having a good contract in place is an absolute necessity. Even then, you might face an uphill battle. If your partner doesn't agree to dissolve you, doesn't approve of the terms you set, or just wants to make your life harder, they can make it hard for you, even if you have a right of first refusal. You may even be required to have your business appraised by an independent party. It sure takes time and energy.

So before you jump into the proverbial bed of business with someone, make sure it's for the right reasons!

Related: Top 9 Reasons Business Partnerships Fail

Do you really need a business partner?

Many of you will take a partner for the wrong reason: fear. You are afraid to fend for yourself because then all decisions start and end with you. There's no one else to blame if you fail, and for many of you, that's the scariest scenario. You may feel more comfortable knowing that the decisions made are not entirely on your shoulders and therefore you don't have to take full ownership if things go wrong.

But the truth is, when you have full control over the trajectory of the brand, you're more likely to succeed. Most of you CAN and SHOULD do this on your own, especially a startup. Just as your personal happiness comes from within, the success of your business is within your power. Stop looking for resolutions from outside sources and trust that you can find the answers by following your own. You don't need to know everything; you just need to stop questioning yourself and trust your instincts! Remember, you've done incredible things to get you to where you are now, and you can achieve even greater greatness to propel yourself forward and achieve your big goals.

Related: 5 Questions to Decide If You Need a Business Partner

What to consider before committing to a business partnership

Of course, there are many scenarios where a partnership is an ideal situation. It just has to be an option that you consider carefully and intentionally. A partner should bring as much to the table as you do. There must be equal energy output. As in any healthy relationship, this energy comes and goes. Sometimes you will do more, and other times your partner will do more. ...