Business Partnership Advisor
Together, we can fix your business and partnership problems
Chris Reich, Business Luminary
Business Partnership: Where is the Love?
“I know this shouldn’t matter but my business partner never tells me I’m doing a good job. Am I being petty?”
Just Do Your Job!
Assuming there is some agreement about duties, shouldn’t partners just do their jobs? Yes, of course. But it’s still important to support each other as partners. As owners, partners in a business share responsibility and the liability as well the benefits of entrepreneuership. Telling your partner that you appreciate their contribution is part of being a good business partner.
People get discouraged when they aren’t acknowledged.
Chris Reich provides Business Partnership Mediation in all 50 states.
Only Give Recognition if You Mean It
If your partner isn’t performing, don’t lay on the praise because they will recognize your insincerity. I know when I’ve done a great job and I know when I’ve come up short. Getting false praise when you know you’ve blown it hurts more than it helps. Your partner knows when she’s done a great job.
So if you don’t mean it, don’t do it. But what to do instead?
If your partner is, in your opinion, under-performing, ask a question rather than try to praise the problem away or worse, by trying to motivate by constructive criticism. It rarely comes across as constructive. Ask, is everything okay with you? Are feeling okay these days? Are you feeling stress from the business? These questions are open-ended and invite dialogue.
If you are pleased with the work your partner is doing, say it! We ALL like to hear it. In the most bitter mediation sessions I conduct, the most common complaint is, “he never says anything good about what I do.”
Would your partner say that about you?
Chris Reich, Business Partnership Mediator
“If your partner is, in your opinion, under-performing, ask a question rather than try to praise the problem away or worse, by trying to motivate by constructive criticism. It rarely comes across as constructive.”
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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 flags that should never be ignored when you see them in your business partnership and provide you with guidance on how to deal with them.
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 disasters: firstly, by avoiding terms that could bankrupt the business, and secondly, by preventing the admission of unplanned Partners.