Business Partnership Advisor
Together, we can fix your business and partnership problems
Chris Reich, Business Luminary
4 Things To Do if There is Tension in Your Business Partnership
Here Are 4 Things to Do if There is Tension in Your Partnership
#1 Start Taking Notes
Write done the things that bug you and add tension to the partnership. Be sure to add specifics such as amounts, if involving money, names, and dates. If the problems are serious or potentially criminal, those notes could be helpful later.
When stress levels go up our thinking gets clouded. Keeping notes will help you clarify your position if a third party is called.
#2 Get a Partnership Agreement!
If you don’t have a partnership agreement, get one before the tension prevents you from talking freely with your business partner. Once the tension rises, it’s nearly impossible to talk calmly about a buyout. A good Partnership Agreement defines the terms if a partner needs out of the partnership. Read more about getting a Partnership Agreement
These 4 steps can help you get mental clarity if there is tension in your business partnership.
Here are 4 steps to lower your stress if there is tension in your partnership.
Article by Chris Reich, Business Partnership Mediator
#3 Get an Outside Perspective
Talk with a business mediator or moderator like me. I help people get past the tension that is bound to arise in every partnership. You will be surprised at how much better you’ll feel after talking about your partnership. You’re not alone.
As stress rises, we get angrier inside. If that leads to a blowout, your business could suffer. If you end up in court, the process will be very expensive. Why risk losing an expensive fight when you can work things out calmly for a fraction of the cost and get far more benefits?
#4 Talk with Your Partner About 3rd Party Moderation
If your partner will work with an independent, neutral 3rd party, you will have a very good chance of reaching a very satisfactory resolution. Rather than a mediator, I call myself a moderator. I moderate the tension and conduct calm, civil dialogues with all partners.
The process works. Ask your partner about her willingness to work with outside expertise. It’s no secret that once all parties are talking, they will probably be able to work things out if they get good guidance as part of the mediation process.
“Tension in your business partnership? Take these 4 steps immediately.”
Game Theory is a very useful tool in business negotiations. In this post, I’ll give a broad overview on how Game Theory can help you negotiate your best deal with your business partner.
I get calls from frustrated business partners all the time. Often, the level of tension is so high, that one partner will move the banking, hide the books, take out a lump sum of cash, close out all social media, or some other drastic measure before properly closing out the partnership. This post explains when it is legal to take action in a partnership when a partner is disruptive.