The Partner You Have or the Partner You Wish You Had

This Page is a searchable index of all posts pertaining to Business Partnership Mediations. This page is an excellent resource for articles about partnership mediation. Find all categories including Partnership Disputes, Family Business Mediation, and Partnership Agreement.

As Moderator to many family businesses, I have helped with succession planning, compensation planning, and resolving of key questions around the operation of the enterprise. It can be difficult for an adult offspring to talk with Dad about a raise.

As you see, a contract can be legal yet not binding. And, the most important take away is that a promise, even if written up and signed, is not binding. If an agreement is not binding, it isn’t enforceable. I assume you want your agreements between you and your partner(s) to be legal, binding, and enforceable. Let’s look at the pieces that must be included to make a valid, binding contract.

Before I give you the secret to easier and successful negotiation, let me explain a few things that don’t work. In fact, these will work against you. From years of watching people negotiate buying or selling, trying to change processes, or reaching general agreement, I have seen what works and what doesn’t when partners are negotiating with each other.

I’ve found a common problem with communication when I’m conducting mediation meetings. People always think they know what the other party is thinking. They’ll say things like, “I know Bill won’t like this, but I think…” Opening your thoughts with that sort of lead in is going to put ‘Bill’ on edge before you even make your point. Never start by negatively setting the stage. So then, how should you start a conversation about a hard subject? In this post I’ll give you the 7 steps to conduct less tense and more fruitful meetings with your business partner.

To be fair, many Operating Agreements have at least minimal language regarding a Partner’s voluntary exit from the Partnership. But, most of the time, those clauses are so vague they make the situation worse.

Partnerships are much like romantic relationships. When it’s all new and exciting, we can easily become infatuated to the point of overlooking differences. After all, don’t the differences make the partnership stronger? Sometimes. Most often differences magnify with time and become triggers to arguments. As time goes by, the differences you ignored become important. What do you do when the differences break the partnership?

Sometimes, in Partnership Mediations, people will dig into very irrational positions. And sometimes, when there is tension in a partnership, as a professional mediator, I can see an easy solution. When disputants won’t do simple things to protect their business, it makes me want to scream!

My business partner and I can no longer work together. We’ve tried to talk about a buyout—I want to buy him out—but it always leads to an argument. Do you have any suggestions for conducting buyout talks that don’t turn into an argument? Read these tips to conduct Buyout negotiations without tension.

Family Business Succession Planning: Make a definite plan. How will they support the parents and when can they take charge. That’s what they want.

Before I offer you my tips on conducting the buyout negotiations with your partner, let me offer a big piece of advice. Use a Mediator. I say that because there is a LOT of emotion around buyouts. It is an extremely personal and emotional process. People always underestimate just how emotional separating from a business is.

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.

When partners seek mediation to resolve conflicts or disputes, it is important that they approach the process with a civil and respectful attitude. Partnership mediation is a non-adversarial way of resolving disputes, and it requires cooperation and collaboration from both parties.

Let’s look at how to plan for the next generation of your family to run your business. It’s never too early to make a succession plan and the earlier you start, the more options you have.