When Partnerships Turn Sour
By Nina Kaufman, Esq.Reproduced from my weekly ezine, LexAppeal:
As I mentioned last week, business partnerships are delicate creatures. Like Japanese maple trees, you need to plant them in the right soil, protect them from harmful pests, and tend them carefully. Any one of these factors could cause the tree to wither and die.
As the proverbial gardener of your business backyard, you want to be on the lookout for the first sign of diseases and unwanted intruders. Here are a handful of signs that something is amiss in your “garden patch”:
- You don’t see your partner. If you’re used to running into each other regularly in the office, this can be a jarring shift and a sign of avoidance.
- You don’t have regular partnership meetings. You don’t need a formal setting; but checking in concisely on business status and objectives is key.
- You “forgot” to do your annual strategic planning. This could be a sign that you no longer care if you’re on the “same page.”
- You’re short-tempered with each other. Something’s bugging you. Best to have it out.
- You’re making major decisions without consulting the other.
- You’re seeking more and more opportunities to advance your own interests and reputation than that of the business.
If you and your partner agree that the partnership is worth salvaging, you may want to look into the business equivalent of marriage counseling. Get recommendations for business partnership consultants who can help you communicate more effectively and get you back on the right track!
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