Business Partnership Advisor
Together, we can fix your business and partnership problems
Chris Reich, Business Mediator
Terrible Tension In Family Business Partnership
In the news this week:
“A 48-year-old pizza shop owner in Bucks County faces homicide charges in the fatal shooting of her longtime partner and co-owner earlier in March, prosecutors announced. The woman allegedly wrapped the man’s body in a tarp and kept it in the master bedroom of a home in Hilltown Township, where prosecutors say she took steps to bury the remains.”
In Family and Relationship Businesses, the Tension is Multiplied
These stories are heart-breaking. I get calls every week about serious trouble in a family business. Fathers fighting with sons. Siblings at war over money. It’s tragic. In the case above, it was the son who started asking questions. Can you imagine what is happening in that family now? Read the story
The tensions run high because the parties are so close to the situation and have shared history. It’s not easy for Dad to hand over the decision-making in the family business to the son who maybe has been a little flakey in the past. The older brother has a hard time accepting that his little sister has more business sense than he has.
At this point, the reasons for the tensions are not important.
I have seen fathers and sons fighting over business. I have seen brothers in dispute over business. I have seen siblings and in-laws fight over business. It’s sad. Get a mediator before the situation is beyond repair.
Chris Reich, Business Partnership Mediator
Get a Good Business Mediator ASAP
In family businesses, when things break down, they really break down. The stress level is much higher than when a typical partnership has issues. And because people have years of history, the arguments can be pretty colorful. I’ve been involved in family disputes after someone threw a punch.
Here’s the most important thing to remember. Get help from a business mediator as soon as you recognize the problem. The mediator will help prevent the blowout that is coming. Talk with anyone in a business partnership and they will tell you about the “blowout”. Yelling, screaming, and threatening are all part of the action. Take it up 10-fold and it’s a family business blowout.
The damage may tear things apart permanently. Kids don’t see grandparents. Cousins can’t see cousins. Holidays are horrible. Don’t let it happen. It can be avoided.
The sooner a mediator is involved, the greater the chance of reaching a lasting, successful outcome.
“If there is tension in your family business partnership, get help from a business mediator as soon as possible. You must avoid a blowout.”
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.
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.
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.