Partnership and General Business Advice by Chris Reich
Partnership Advice and Business Improvement Tips
by Chris Reich, TeachU
These articles are here for you to use freely. Share them with your business partners and employees. You are free use business tips in newsletters or your own blog posts. All I ask is that you cite the source as Chris Reich, TeachU.com. (A link would be GREAT!)
I spend the time to produce these tips to help people in business. Feel free to send me your thoughts: Chris@TeachU.com.
Problems in the Partnership? Fix the Communication
I’ve found a common problem with communication when I’m conducting mediation meetings. People always think they know what the other party is thinking. They’ll say things like, “I know Bill won’t like this, but I think…” Opening your thoughts with that sor…
The Most Important Clause in Your Operating Agreement
To be fair, many Operating Agreements have at least minimal language regarding a Partner’s voluntary exit from the Partnership. But, most of the time, those clauses are so vague they make the situation worse.
Can You Be You with Your Business Partner?
Partnerships are much like romantic relationships. When it’s all new and exciting, we can easily become infatuated to the point of overlooking differences. After all, don’t the differences make the partnership stronger? Sometimes. Most often differences magnify wit…
I Want to go Gordon Ramsay Sometimes!
Sometimes, in Partnership Mediations, people will dig into very irrational positions. And sometimes, when there is tension in a partnership, as a professional mediator, I can see an easy solution. When disputants won’t do simple things to protect their business, it make…
5 Tips for Successful Buyout Negotiations
My business partner and I can no longer work together. We’ve tried to talk about a buyout—I want to buy him out—but it always leads to an argument. Do you have any suggestions for conducting buyout talks that don’t turn into an argument? Read these tips to condu…
Make a Succession Plan for the Family Business
Family Business Succession Planning: Make a definite plan. How will they support the parents and when can they take charge. That’s what they want.
10 Tips to Conduct a Successful Partnership Buyout
Before I offer you my tips on conducting the buyout negotiations with your partner, let me offer a big piece of advice. Use a Mediator. I say that because there is a LOT of emotion around buyouts. It is an extremely personal and emotional process. People always underest…
6 Steps to Deal With a High Conflict (Bully) Business Partner
The High Conflict Business Partner AKA the Bully is the most difficult type of person to deal with. Here are 6 Tips to help you deal with the Bully Partner.
5 Red Flags That Say Your Business Partnership is in Trouble
Business partnerships can be a fantastic way to pool resources and knowledge in order to create a successful enterprise. However, even the most well-intentioned partnerships can break down if certain warning signs are ignored. In this post, I will point out the 5 red fl…
Plan for the Day a Partner Wants to Leave the Business
If you have read my other posts, you know I strongly encourage people who form Partnerships to create a Partnership Agreement. The document must specify how a Partner can leave the Partnership voluntarily while ensuring that the business is protected from two potential …
7 Reasons to Be Extra Nice in a Partnership Mediation
When partners seek mediation to resolve conflicts or disputes, it is important that they approach the process with a civil and respectful attitude. Partnership mediation is a non-adversarial way of resolving disputes, and it requires cooperation and collaboration from b…
Succession Planning in Family Business
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 to Escape Your Business Partnership
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 …
Don’t Risk the Money You Put Into Your Partnership
Somebody puts up money with someone who agrees to contribute labor as their contribution to an equal Partnership. Once things are set up, and a lot of money is spent, the other Partner fails to perform, and the troubles begin. I get 2-3 calls like this every week.
Your Business Partner Keeps Taking Money from the Bank Account
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 th…
Terrible Tension In Family Business Partnership
In family businesses, when things break down, they really break down. The stress level is much higher than when a typical partnership has issues.
How to Get Out of a Partnership LLC
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…
Business Mediator Can See Around Corners to Help You
Sometimes people will intentionally make an effort to trigger anger, frustration, or irrational behavior. As a Business Partnership Mediator, I see this behavior often and can help calm things down so we can have a rational discussion toward resolution. Seeing ahead is …
How Long Does Business Mediation Take?
The amount of time needed to work out an agreement is in the hands of the disputing partners. We could talk a few minutes about options and reach agreement. But that never happens.
Ultimatums Kill the Chance of Reaching Agreement Between Partners
Whenever a partner makes an ultimatum when I’m working to bring people together, the damage is almost always irreparable. Issuing an ultimatum is a disrespect to me as a mediator and the other partner or partners involved. Line-in-the-sand demands take away any room f…
Most Popular Posts
10 Tips to Conduct a Successful Partnership Buyout
Before I offer you my tips on conducting the buyout negotiations with your partner, let me offer a big piece of advice. Use a Mediator. I say that because there is a LOT of emotion around buyouts. It is an extremely personal and emotional process. People always underest…
6 Steps to Deal With a High Conflict (Bully) Business Partner
The High Conflict Business Partner AKA the Bully is the most difficult type of person to deal with. Here are 6 Tips to help you deal with the Bully Partner.
7 Reasons to Be Extra Nice in a Partnership Mediation
When partners seek mediation to resolve conflicts or disputes, it is important that they approach the process with a civil and respectful attitude. Partnership mediation is a non-adversarial way of resolving disputes, and it requires cooperation and collaboration from b…
Succession Planning in Family Business
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 to Escape Your Business Partnership
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 …
Your Business Partner Keeps Taking Money from the Bank Account
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 th…
How to Get Out of a Partnership LLC
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…
The Partner You Have or the Partner You Wish You Had
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.
Problems in the Partnership? Fix the Communication
I’ve found a common problem with communication when I’m conducting mediation meetings. People always think they know what the other party is thinking. They’ll say things like, “I know Bill won’t like this, but I think…” Opening your thoughts with that sor…
The Most Important Clause in Your Operating Agreement
To be fair, many Operating Agreements have at least minimal language regarding a Partner’s voluntary exit from the Partnership. But, most of the time, those clauses are so vague they make the situation worse.
Can You Be You with Your Business Partner?
Partnerships are much like romantic relationships. When it’s all new and exciting, we can easily become infatuated to the point of overlooking differences. After all, don’t the differences make the partnership stronger? Sometimes. Most often differences magnify wit…
I Want to go Gordon Ramsay Sometimes!
Sometimes, in Partnership Mediations, people will dig into very irrational positions. And sometimes, when there is tension in a partnership, as a professional mediator, I can see an easy solution. When disputants won’t do simple things to protect their business, it make…
5 Tips for Successful Buyout Negotiations
My business partner and I can no longer work together. We’ve tried to talk about a buyout—I want to buy him out—but it always leads to an argument. Do you have any suggestions for conducting buyout talks that don’t turn into an argument? Read these tips to condu…
Make a Succession Plan for the Family Business
Family Business Succession Planning: Make a definite plan. How will they support the parents and when can they take charge. That’s what they want.
10 Tips to Conduct a Successful Partnership Buyout
Before I offer you my tips on conducting the buyout negotiations with your partner, let me offer a big piece of advice. Use a Mediator. I say that because there is a LOT of emotion around buyouts. It is an extremely personal and emotional process. People always underest…
6 Steps to Deal With a High Conflict (Bully) Business Partner
The High Conflict Business Partner AKA the Bully is the most difficult type of person to deal with. Here are 6 Tips to help you deal with the Bully Partner.
5 Red Flags That Say Your Business Partnership is in Trouble
Business partnerships can be a fantastic way to pool resources and knowledge in order to create a successful enterprise. However, even the most well-intentioned partnerships can break down if certain warning signs are ignored. In this post, I will point out the 5 red fl…
Plan for the Day a Partner Wants to Leave the Business
If you have read my other posts, you know I strongly encourage people who form Partnerships to create a Partnership Agreement. The document must specify how a Partner can leave the Partnership voluntarily while ensuring that the business is protected from two potential …
Most Popular Posts
10 Tips to Conduct a Successful Partnership Buyout
Before I offer you my tips on conducting the buyout negotiations with your partner, let me offer a big piece of advice. Use a Mediator. I say that because there is a LOT of emotion around buyouts. It is an extremely personal and emotional process. People always underest…
6 Steps to Deal With a High Conflict (Bully) Business Partner
The High Conflict Business Partner AKA the Bully is the most difficult type of person to deal with. Here are 6 Tips to help you deal with the Bully Partner.
7 Reasons to Be Extra Nice in a Partnership Mediation
When partners seek mediation to resolve conflicts or disputes, it is important that they approach the process with a civil and respectful attitude. Partnership mediation is a non-adversarial way of resolving disputes, and it requires cooperation and collaboration from b…
Succession Planning in Family Business
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 to Escape Your Business Partnership
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 …
Your Business Partner Keeps Taking Money from the Bank Account
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 th…
How to Get Out of a Partnership LLC
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…
The Partner You Have or the Partner You Wish You Had
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.
Violence By a Business Partner Is Never OK
If your business partner ever is violent, call 911 immediately. Yes, even if he missed. You want to document threats of or actual violence.
The Fiduciary Duties of Partners in a Business Partnership
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.
All work is fully confidential from the first moment of contact. Every new client relationship begins with consultations with all parties. It's important to me that we all feel good about working together before we start. This site does not provide specific legal advice.
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Clients who have worked with lawyers, counselors, consultants, and coaches often tell me that my business mediation service is the best and least expensive way to fix a partnership.
— Chris Reich, Business Mediator