Avoiding partnership stresses

Do you wish to establish a business partnership on sound foundations? Or is your existing business partnership causing you sleepless nights and stressful days?

Problems can arise from and be associated with many issues, such as disagreements over:

  • business goals and direction
  • relative effort versus rewards
  • roles, work styles and decision-making methods
  • capital funding
  • family member participation
  • succession and exit strategies

Business partnerships can be a sources of strength, but they can also bring down promising businesses. Business partnerships that are established on sound foundations or where the partners have been able to address difficult and important issues in an open and constructive way after the partnership is established, will find themselves being far more effective and productive than would otherwise be the case.

Many partners will find the assistance of a professional advisor, coach or mediator helpful. A third party can help sort through the noise and go more directly to the real issues that require addressing.

What is the cost of doing nothing? You may not enter into a partnership at all and, thus carry all of the burdens and risks by yourself. In other words, there may be missed opportunities. On the other hand, you may be operating in a business partnership that is not working for you. Your stress levels are high, you are no longer getting satisfaction from work and you run the risk of the whole ediface falling down. Can you afford to do nothing?

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