Conflicts are going to happen, even in the most successful partnerships. As a partnership develops, some of the biggest struggles can be finding solutions to these conflicts. One of the reasons people shy away from partnerships is the possibility of disagreement. How do we put arrange things to make sure that the partnership minimizes the risk of disagreement and keeps the business progressing?
One key thing to do, when you are looking at a particular problem in your partnership, is to define the problems together before you start looking for answers. If you have multiple partners, then come together, figure out what the problems are, and work towards solutions. Keep your attention focused on those particular problems.
Defining the problem early avoids the possibility of having partners stray into other issues or lose focus on the issue at hand.
What has been your experience with working with partnership issues? Do you avoid getting sidetracked by smaller, less important issues? What have you done in your discussions to keep everything moving in the right direction? Join us in the comments below.
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. This article should not be treated as legal advice to any person or entity. Freeimages.com/Photographer jonpaul james.
About the Author
Shawn McBride — R. Shawn McBride is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can email R. Shawn McBride or call (214) 418-0258.
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