The Goal: Fix Your Partnership Problems Before It’s Too Late

If partners won’t talk, it becomes impossible to work things out. At that point, buyout might be the only option.

Don’t wait until all conversation stops. Your issues can be resolved.

Act While There is Time. Cut the stress for 2019.

Discuss, Agree, and Document How Partners Will Be Paid

This might surprise you. Compensation does not have to be equal in a 50-50 partnership. You can, in fact, do anything you want as long as it’s agreeable with your partner or partners. Read on!

In Mediation Use Sense and Don’t Fight Over Cents

When business partnerships go bad, very often someone wants out. That starts one of two possible processes. The business enters Wind Down and begins the process of closing or the partners start discussing a Buyout.

Do Not Stop Working if You Want to Leave the Partnership

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.

How to Draft Resolutions to Strengthen Your Partnership

I recommend that partners talk through a specific issue and then draft an agreement (called a resolution) that sets a policy. You can keep this in a binder to serve as amendments (or foundation) to your Partnership Agreement. In this post I’ll explain how to talk about things that bug you with your partner and how to draft a binding resolution to fix the problems.

Message from Chris

“The only time a partnership issue cannot be resolved is when the tension gets so bad that neither party will talk to each other. When you reach that point, it’s pretty hard to start a meaningful dialogue. On the positive side, no matter how tense the partnership, if partners are talking things can be worked out”

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I Help Fix Partnership Problems

Yes, sometimes my work is stressful. It’s also very rewarding when I hear those magic words, “yes, I can agree to that.” That’s the instant everything starts to get better. When I help work out a partnership problem, I try to take the friction away so that we can have calm and productive discussions. You would be amazed at how much can be accomplished in a short time once the emotions are out of the way and we can focus on specific ways to eliminate the tension. Many of my clients tell me that the process is therapeutic. For me, yes, there is stress because I want everything to work out, but it’s amazing to be a part of helping so many businesses succeed. I love my work.

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Business Partners in Real Estate Business

“Thank you for helping us get back on track. We both feel like we did when were just starting. You saved me from burnout.”

Worth the Cost

“When you first said that you would help us make more money than it cost us to have you fly out, I was skeptical. You cost less than a month’s salary to hire a business guy and we made that back and more in the first month after you helped us. We see a very good year ahead if the economy holds up.”

Medical Practice Partners

“You have not only helped us with our issues, our practice revenue is up substantially in only 2 months. You we right, we are going to have a great year. Thanks again.”

Fix Your Partnership Problems

Compensation Issues

Compensation can be a very sensitive subject. People get tired of working for little or nothing and may start to tap the business. If one partner wants, or needs, money, an argument can breakout. There are ways to fix compensation issues without breaking the bank.

Partnership Tension

Small disagreements between business partners can feel like a big difference in vision. From experience, I know most partnership tension can be eliminated without a long, costly process. Having me to stand in the middle and guide the conversation is a good way to reduce the emotional component. As we talk things out and reach concrete agreements, you will see your situation get better and better. Almost all problems can be worked out in a couple days. The cost is far less than getting lawyers involved.

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Buyout Is Possible

If your partnership is beyond repair, we can work together toward a buyout. If that is already on your mind, be careful about discussing that with your partner. 2 people will agree that a business is worth a million dollars until someone wants out. Then that same business becomes worthless. Better not to discuss a buyout until you are real clear about what you want. Once the negotiation starts, it’s easy for things to get nasty.

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