- May 8, 2015
- Akshay Mishra
You need to read these steps for good health of partnership. Because, A business partnership can be every bit as complicated as a marriage. And, like matrimony, some partnerships end unhappily.
- time commitments, or
- investment in a desired outcome.
Business is closely tied to money, and it involves making myriad decisions about spending, investing, receiving, and controlling funds. Some of these decisions inevitably are based on value judgements, such as whether you spend more in order to buy domestically-made goods or operate in a “green” way.
Spending much money without asking to your partners, hidden transactions, hiding clients payments etc. These are major issue in financial disagreement.
This is not important to see the world in same way as other partners do. May be there some likes and dislikes, agreed or not. Problem is to resolve them by talking much more about the issue.
Disagreements are not necessarily a problem, but difficulties in resolving disagreements are. Psychologically, the inability to resolve conflicts often signals basic incompatibilities in a partnership, personal dislike, or divergent worldviews and values.
But even if all that stays in the subconscious background, difficulty resolving disagreements generally reflects important differences in communication styles, priorities, and personal flexibility, any of which can put extra pressure on a relationship.
- rarely or never take time off, while the other partner cherishes regular “off hours”;
- obsess over certain issues, while the other partner thinks them through to a suitable policy and moves on; or,
- insist on volunteering their services for certain causes or decline certain business opportunities in order to reinforce personal values that the other partner deems irrelevant to the business.
- taking cash out of the business early versus delaying immediate income in favor of investment toward long-term growth; or
- running everything personally based on “gut feelings” vs. establishing policies and developing staff so that the business can run without the partners’ close oversight.