Prefer hiring a team if you have fund and build the best team. When the RIGHT team work together for you, they work like partners. The only difference is that you are taking care of their needs and they are doing your best work. They are faster to get Higher Responsibilities and easy to delegate and empower them.
Partnerships are like a marriage
Partnership is a great when your mind-set is aligned with each other and have high-level of trust, kind of twins of same family. It is not easy to find partnership like Husband-Wife. Mostly people gets “changed” with times (because of family pressure or change in wants) and start blaming each other and “shutting down” becomes only option.
Make Team-mate as Partners
Investors always advice “You must have co-founders” but the realities are majority of startups that brought #innovation are single founder, who made their TEAM MATE as Partner after working together long time. They have more capabilities of sustaining, surviving and controlling than 3 or 4 partners. Don’t worry even if any investor rejects you just because of solo-founder, consider, he has just found this reason to avoid you. It has nothing to do with success of startup as there is a list of failed startups with co-founders.
Mentors can help Single-Founder
Even this is also true, single founder learn by doing mistakes but if they have RIGHT #mentor on their BOARD (which is still new concept in India) and part of your entrepreneurial journey, probably, single founder can be successful faster.
In my venture, MeriCAR.com, i was single founder. Even i tried to work on every investor’s advice, but i realized my team is my Partner. We have a plan to work with #collaboration with distributors as partners across India. You can visit link: http://goo.gl/1wc5sK to be MeriCAR local partner.
PS. Replied over 100 Q&A on Quora and sharing BEST Q&A here. To read more use #ASKrakeshSIDANA or watch Fb Live at: goo.gl/W4fM7U