Is it time to herd some cats?

If you want to go fast, go alone, if you want to go far, go together. 

I used to think of this with a focus on the second half. Like it was an admonishment to be patient and work with others to achieve more than you could on your own.

Now that I'm a bit more experienced as an entrepreneur, I view it a bit differently.  I see it more as there's a time and a place for everything.  There are times to go fast, and there are times to go far. Both options have their pros and cons, and the key is understanding when each approach is most appropriate.

One of the challenges many startups face is knowing when to go alone and when to bring in a team. As an entrepreneur, you'll have to make this decision many times throughout your journey. Both options have their pros and cons and understanding when each approach is most appropriate is essential.

Going alone, also known as "solo entrepreneurship," can be a great option when you're just starting out. When you're first getting your business off the ground, you likely have a limited budget and a lot of unknowns. By going it alone, you can move quickly, test different ideas, and make decisions without consulting others. Additionally, solo entrepreneurship allows you to keep a larger percentage of the profits and maintain complete control of the company's direction.

However, there are also situations where it makes more sense to bring in a team. As your business grows, the workload becomes too much for one person to handle and a team can help to divide and conquer. A team can bring in different perspectives, skills, and ideas which can be beneficial to the company's growth. Additionally, by bringing in a team, you can share the risk and the workload, allowing you to focus on what you do best.

One key aspect to consider when deciding whether to go it alone or bring in a team is the stage of your business. In the early stages, when the company is still finding its footing, it might make sense to go it alone. However, as the business grows and becomes more established, it may be time to bring in a team to help take it to the next level. Here are some indicators that it is time to look for your dream team:

• Workload has become too much for one person to handle: As your business grows, the workload may become too much for one person to handle, and bringing in a team can help divide and conquer the tasks at hand.
• Need for diverse skills and perspectives: A team can bring in different skills and perspectives which can be beneficial to the company's growth and can help your business to be more innovative and adaptable.
• Lack of time and energy to handle all opportunities: As a solo entrepreneur, you may find that you don't have the time and energy to handle all the opportunities that come your way. Bringing in a team can help you take advantage of these opportunities.
• Difficulty in scaling the business: If you're finding it difficult to scale your business, a team can help you grow and expand.
• High stress and burnout: Entrepreneurship can be a stressful and demanding endeavor, and bringing in a team can help to alleviate some of this stress, allowing you to focus on what you do best and avoid burnout.

Becoming aware of these challenges and making deliberate decisions when to go alone and when to bring in a team is key to positioning your business for success. Remember that both options have their advantages, and it's not always one or the other, it's about knowing when to use each approach.