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.

Depressed business partner | TeachU

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

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“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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Take the proper steps to protect the money you invest to start your new business partnership.

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 partner may take money from the business whenever they wish to do so. A Partnership Agreement could protect you.

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 the business going.

Partner Kills Partner in Family Pizza Business

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.

There is a right way to get out of an LLC- or to remove a member

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. These same items apply if you want to remove a member from your LLC too.