Successful business partnerships are always based on mutual respect and an unwritten understanding that both partners want what’s best for the business so that “giving in” doesn’t mean surrender.
When one partner becomes totally beligerant and refuses to communicate, it is important to protect the other partner. These situations get pretty close to needing an attorney which can get very expensive.
We tend to wait until the situation gets very bad before we reach out for help. I understand. Let’s get started before the communication breaks down.
Here are 6 easy (and cheap!) steps to fix your business partnership problems. My process is uniques and it works.
The 2 reasons creating a Partnership Agreement should be your first step when forming a business partnership. First, the protection a Partnership Agreement affords makes skipping this step rather dumb. Second, the process of working out the terms of your Partnership Agreement will reveal potential problems and help you work them out before they happen in the real world.
If you are in a business partnership, call your bank and find out if you have a joint account. If you are “on” the account but it’s not a joint account, change it.