You Don’t Have to Be Stuck in a Bad Business Partnership.
Chris Reich, Business Mediator
You have 2 choices. Fix it. Leave the partnership. I will help you as I have helped many, many other partners in bad partnerships. My name is Chris Reich (rich) and I just might be the best business partnership mediator available. And, you get rates that are less than half that of a lawyer.
I can only help you change your partnership situation if you contact me. Your relief from the stress starts with a free consultation. Guaranteed.
Are You Ready to Enjoy Your Business Again?
All consultations are 100% confidential and free. Take all the time you need. There will be no pressure or obligation. I guarantee that you will feel better after we talk. ~ Chris Reich, TeachU
Let’s look at how to plan for the next generation of your family to run your business. It’s never too early to make a succession plan and the earlier you start, the more options you have.
How do I get out of my partnership? And, it’s the biggest reason I am always ranting about having a Partnership Agreement. Without a Partnership Agreement, your options are very limited. You accept anything your partner is willing to give you, or you can dissolve the business.
Partners take advantage of partners every day and they get away with it. It is the most painful call I get. It sounds like this, “I put all the money I had into starting our business. My partner had bad credit and no money, but he promised to do all the work to get the business going.
While it seems like it should be very easy to get out of an LLC, it can be complicated. Even if the business is very small, there are considerations beyond getting your money back. In this post, I’ll try to hit the important points of getting out of an LLC Partnership. These same items apply if you want to remove a member from your LLC too.
We often form partnerships because of the way the relationship works. One person wants to be in charge and the other is fine with that. Then something comes up and the expectations cause tension. We have to deal with the partner we have, not the one we wish we had.
If your business partner ever is violent, call 911 immediately. Yes, even if he missed. You want to document threats of or actual violence.
Partners in a business partnership, other than limited partners, have legal obligations to the partnership that are called the Fiduciary Partnership Duties. In this post, we’ll look at these duties and, hopefully, clarify what they mean.
When the business partnership breaks down, the darker sides of the personalities come through. A dominant partner turns into a bully. A person who does not do well with conflict will withdraw. As the bully gets more aggressive, the pacifist withdraws further. Eventually, the bully gets so angry they are ready to lock the other partner out. The pacifist quits coming in. The next blowout is over money. The course is as logically predictable as what will happen to your car if you hit the highway with no oil in the engine. It will get louder and louder until the engine seizes.
Unless you are in some sort of political business, you should keep politics out of your establishment completely. Of course, you have freedom of speech, but we are in very contentious times and displays of political or religious positions might be off-putting to to your customers.
What happens with the business when people break up? Here’s the information you need to make big decisions and protect yourself.