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Establishing a relationship with partners or investors can enrich your company with material resources and talented, effective human capital. Make the wrong choices, however, and the problems that result could be serious, even fatal, for your company.

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Entrepreneurs tend to be fairly self-reliant people. After all, they have the confidence to face the risks of starting up and managing a business. The motivation and self-reliance that enabled you to create a business can pose a problem when it comes to your ability to accept a partner, however. When you work with a partner, rather than as a sole owner, you will have to be able to accept losing some of the autonomy you now have. On the other hand, with a partner you will have someone to share ideas with and divide the day-to-day responsibilities, and ideally someone whose skills and interests complement yours, strengthening the company. Think long and hard about how ready you are in emotional terms to accept a partner.