Business
5 Ways To Destroy A Business Partnership – Don’t Start That New Business Until You Read This

5 Ways To Destroy A Business Partnership – Don’t Start That New Business Until You Read This

Let any of these 5 situations enter your business and you will destroy your business career:

1º – Stop needing us:

There is a considerable possibility that the power and responsibility structure of the association will start to change and look very different from 3 to 12 months after inception.

At the start of any new venture, a dynamic and compelling startup phenomenonComposed of fear, anxiety, stress, and excitement, it emerges as an impressive blaster of personal barriers. No fronts or charades are the hallmark of a new company. Partners forget their own needs and are on their best behavior. They are all madly in love.

“They Need Each Other” it is a compelling powerhouse in successful business partnerships. In most societies, that “need” is the link that holds everything together. As time goes by, especially after By month 12 of being in business, everything and everyone begins to change, evolve, and a shift emerges that will be unsettling and transformative for the business and all players.

Consult the no. #4 for more on “not needing each other”

Solution: Accept the fact that the above information is valid. Discuss it openly with your business partners. Be attentive and sensitive to your trading partners and what they say and do and how they say and do it. you do not have to be “a bit of a maudlin person.” Think selfishly. Think about protection for your future. Think about the protection for the future of your company. Communication, open and civil, is the only preventative measure that will increase the possibility of a favorable outcome.

2nd- Allow your partner to point out all the expensive gifts that your partner’s partner is receiving that are not:

Significant others and other family members can be a source of great pain and anguish when it comes to your relationship with your business partner.

Greed, jealousy, excessive criticism, general resentment, tactlessness and superficiality are some of the flies that swim in the ointment of business societies. Money and power sometimes bring out the worst in “important people” and family.

Solution: There are two parts to the solution:

TO-He is the savvy business person who pays extreme attention to the health and tone of his business partnership. He must be her number one concern, above and beyond anyone else in her life. I know I will get a lot of booing and whistling but if you take care of your business and business partnership it will always take care of you and the people you love and who love you. Everyone will be happy and satisfied.

b- Going or inviting a counselor or therapist to meet privately once a month, individually and together, with business associates is always money well spent. I have seen the scraps that family members have created in some very successful businesses.

You will have conflicts and discord between partners. You can count on that. Prepare now and have preventative and support resources ready and/or in play from the start. It will be a shame if one day you are standing outside your padlocked office wondering what happened.

3rd – Having sexual relations with a family member of your business partner:

I already “feel” the smiles. Talk about destruction. This is an insidious act of extreme treason. Not only will you leave your business in shambles, but you will destroy valuable family and personal relationships. People will be crushed and devastated for life.

The reputation of all partners will be tainted. You will be surprised and horrified at the same time to discover how many suppliers, banks and customers will turn their back on you. They know that with a dirty and tainted situation like this, destruction and failure may be close at hand. No one wants to be a part of this, especially if it hurts them financially. One thing that many people take for granted is that it takes years to build a reputation that is respected and trusted. It takes 24 hours or less to fly it.

Are you going to make your bed and lie in it, or not?

Solution: If you’re over 18, make a wild guess. Under 18? Talk to someone over 18.

4º – Talk to yourself about how you deserve more money than your business partner:

“I’m working a lot harder than her.” “He was supposed to be the sales end of our business, but…” “Our main customer can’t stand her.” “He can’t handle the pressure.” “I never realized how much he talks.” Do I need to continue? You may recognize one of these.

At the start of a new company there are “reality” and there it is “wishful thinking and well-intentioned.” The responsibilities and strengths you bring to the new company are not necessarily the responsibilities and strengths that will be in play when things get started and move forward.

Being aware of each partner’s powerful strengths and ‘vulnerabilities’ will allow weekly partner meetings to be productive and for everyone to be open, honest and transparent. Staying flexible and being willing to adapt not only leads to a sustainable business, but more excitingly, it leads to personal growth for all partners.

Solution: There are 3 parts to the solution..

TO-Order, enforce, and reinforce up-close-and-personal, respectful, and empathetic communication meetings at least once a week. These meetings are limited to members only and are held behind closed doors and under lock and key. Bring food. Do not go to a public place to talk.

b- There are always 3 realities: yours, theirs and the business. Work only with the reality of the business and adjust your life to the needs of the business. I repeat, make your business the priority above all others and the “others” will have a phenomenal life.

vs- Accept as a given that you may have to change your place and responsibilities in the business as time goes by. Receive it with open arms. If you have any problems with this, I respectfully tell you to find a therapist as soon as possible. Your reticence is related to your ego, self-image, and self-confidence. It pays to have someone help you control your emotions and thereby save your business career.

5th -Start the new company on a 50/50 ownership platform:

If you are forced to start a partnership of equal shares, then having or learning patience, empathy, and anger management becomes even more crucial and essential than ever. 50/50 is fine until the “cracks” start to appear. If you don’t follow the advice in Step 4, it could be the beginning of the end for everyone.

Some interesting points:

TO-In a partnership break, your net worth is never, I repeat, never what you think it is. It is always much less.

b-Banks, customers, vendors, and even employees will scatter when bad news is on the horizon. Your net worth could completely dissipate in the time it takes you to say “Wait, I changed my mind.”

vs-Keep the partnership agreement as simple as possible (two pages is good) or you’ll find that the lawyers will earn more than you.

d-You could have a 51/49% equity stake with a 50/50% profit split. It is worth giving up more profit division to get 51% ownership of the company. In any case, regardless of what you decide, it is always advisable that salaries, expenses and benefits remain the same.

Solution: See the solution in step #4

“Now go with your eyes wide open”…Good luck out there.

A personal note:

They will accuse me of being negative and myopic. My Answer: That’s rubbish. This is the reality. This is life. it’s raw, pure, up close and certainly personal.

Don’t like the article? I understand. Truth and reality have a way of making people uncomfortable.

Just do me a favor. Print it out and keep it in a drawer, in a sealed envelope. He open it 12 months from the day he started his business. If I was right, you unfortunately learned a valuable lesson and if your verdict is that I was wrong, please take a closer look and look for cracks in the partnership relationship. You may be in the “subtle stage.”

Partnerships are great when they are strong and based on mutual respect. Unfortunately, this is not a perfect world. This article is about the possibilities you should know about and be attuned to. Consider this article a “fire drill” practice. Adapt now, because when the flames start to roar, it’s too late.

This article is about coating your business relationship with empathy. It’s about knowing that you are not only responsible for your well-being and performance, but that you are also responsible for the state of mind of your business partners. I am not advocating that you become a super parent. I am advocating for you, and this article is about your financial and mental well-being and protection.

One more time. Good luck and never, ever give up on your dreams.

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