30% Guarantee, 55% Risk

The path to success in business and investment is rarely linear. There are calculated risks to take and decisions to be made, often with incomplete information.

Because we hardly ever see the whole board or have all the required information to make a well informed decision.

Sometimes, even this seemingly well informed decisions we make don't bring about the desired or intended outcomes.

One of the key decisions on this journey is whether to navigate it as a solo driver or join forces with a team of fellow travelers.
In my view, it's very similar to the dilemma of going fast or going far?

Understandably, there's no one-size-fits-all answer with these things, it depends usually on what the objective is.

This post explores the dynamics of both approaches, the strengths and considerations of venturing out alone versus building a collaborative team.

Image Source

Going Solo Vs. With A Team

There's a certain romanticism to the idea of the lone wolf entrepreneur or investor, the one who calls all the shots and builds their empire from the ground up.

It's an ideal stereotype that many of us seek simply because in resonates with us in one way or another. For me, it's mostly the freedom aspect, like an unencumbered bird flying in the night sky.

Both in theory and in practice, this solo approach offers unparalleled control and autonomy. You set your own pace, have the ability to make lightning-fast decisions, and reap the full rewards of your success, during the good days. On the bad days, the reward is failure, also paid in full.

This independence comes at a cost: you shoulder the entire burden of every task, decision, and potential misstep. From ideation and execution to overcoming hurdles and celebrating wins or sulking losses, it's all on you.

Now, one could say this is fair enough, in the sense that you directly reap what you sow. But, is it wise enough to shoulder such a burden, especially when the journey is long and fraught with unforeseen challenges?

Building a team allows you to tap into a wider pool of knowledge, experience, and perspectives. For some, building a team is a no brainer despite knowing that it is hard to accomplished and comes with many challenges.

Image Source

I think the main reasoning is that a well-assembled team can bring a diversity of skills to the table, as well as provide built-in support and accountability. The latter are essential components to "going far" or achieving a sustained and long term success.

The flip side is the need for collaboration and compromise. Decisions take longer to make, and aligning everyone's visions and goals requires effective communication and leadership, which always emerges from trials and errors.

The main advantage or drawback with teams is a certain disparity between effort and rewards. It's not always a perfectly equal split. A team member with a crucial skillset may contribute less overall effort but play an irreplaceable role in the team's success.

In Closing

Going solo is more like a venture with a 55% risk of encountering roadblocks and getting stuck on them. Going with a team can mitigate some of that risk, offering a form safety net of shared experience and expertise.

This cooperative approach may take some effort to navigate efficiently, but it can inch you closer to the promised land of '30% guaranteed' success.

Posted Using InLeo Alpha