Should you start your new business by yourself? Or do you hire a co-founder to begin things with?

Even the most inventive minds might struggle to launch a new business. You may believe you have everything planned out when your company is still in its beginnings. But as soon as you begin bringing on new clients, searching for capital, appointing a team, and interacting with customers, you'll rapidly realize that every day, business owners deal with new challenges.

This is why many first-time business owners start out with a partner: they want to have assistance on hand in case of emergencies. Some founders rely on their spouse, brother, best friend, or roommate from college to help launch the business. However, other people aren't so confident about the partnership concept. You must agree on major decisions, share a common vision, and split earnings with a partner.

Others, though, are less certain about the idea of partnerships. Major choices must be mutually agreed upon, a shared vision must be shared, and income must be divided.