ending business relationships

The article “Protect Your Business and Your Family” raised a valid point — that partnerships are not eternal.  But the point is not an obvious one. Many business owners I know and advise refer to their “business partner” as the person with whom they own a business.  The business may take the legal form of a […]

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I found a thread of a plaintive (online) cry for help:  “My partner isn’t returning phone calls.  I want to get off the business papers as a responsible party.  I’ve not been active in the business for the last six months/year/two years.  What do I do?” Unfortunately, to really make sure all those loose ends […]

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From the Department of “Was that form of exit strategy written into our partnership agreement?” comes this story from the Chicago Tribune of an Illinois business partnership gone wrong.  Apparently, the home rehab business — started by two friends — was experiencing financial difficulties.  It seems that one partner wanted to take out more money to […]

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True confessions time:  the last few months have been very hard because, well, for all of my desire to be the Business Partnership Expert, my own business partner and I parted company as of December 31, 2007.  It was my decision.  There were things in the partnership that just weren’t working, and others that I […]

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In a question that seems more appropriate for The Ethicist (the New York Times Sunday Magazine’s Q&A column on ethical issues), David Eddie from the Globe and Mail presents the following scenario: [After 15 years of slaving in someone else’s business], about a year ago, I convinced a colleague to quit and team up with […]

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Post image for Basic Training: Z is for Zapping Yourself by Walking Away

OK, so there aren’t many usable “Z” words in this context.  🙂  Today’s Basic Training post revisits that old, old lesson that you can’t just escape or quit your business by walking away. Q.:   What are the ramifications if I walk away from my small business–just turn the keys over to the landlord and walk […]

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Let’s leave aside the fact that the title of the article alone made me laugh.  Have a look at Marian Banker‘s wonderful article, “Help! I Want to Dump My Partner!”  Marian, a business leadership coach and founder of Prime Strategies, clearly summarizes the awkwardness and agony of what it’s like to be a partnership or long-standing […]

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Yes, it’s the title of a Beatles song. But “hello goodbye” also reflects those the awkward feelings raised by having to confront the “what happens if this doesn’t work out?” question that lurks behind all partnerships, strategic alliances and other business relationships. “Why do I have to focus on things going wrong?” entrepreneurs ask me. […]

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Q. I am a founding partner in a 15-year business.  All 3 partners work in different capacities at our business. We have had financial struggles along the way. Recently, my 2 partners have infused capital to keep going; I didn’t have the money to make a contribution.  We also have not received salaries for over […]

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When the relationship’s not working, it’s time to cut the ties. It’s 11 o’clock on a Friday night, and you’re furious. Once again, a major client has called at the last minute and needs you to finesse a campaign. A campaign that absolutely, positively has to launch on Monday. Come Monday, the campaign is done and […]

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