Tuesday, June 22, 2010

Are you and your business partner at odds?

Are you avoiding meeting with your business partner? When you do, is there a lot of tension and everyone is left with hurt feelings? Even more importantly, when you have those conversations, do you leave with nothing accomplished and no decisions made?

You are damaging your business by having this continuous conflict with each other. The solution? Focus on the business – rather than yourselves and your issues with each other. To some, this might seem impossible, but it is a necessary change – unless you are ready to come up with an exit strategy and leave your business. The costs to ending a business are enormous – financial losses, legal costs, and emotional stress will all take a toll. When a business ends, it is not just the partners that suffer the loss – it is everyone from the partners’ families, employees, clients, vendors and even the community.

By focusing on the business – and checking your egos at the door – you are able to make sound, responsible decisions that are important to the success and profitability of your business. As a master business partnership coach, I suggest that my clients take all of the personal emotion and feelings out of these conversations. Another tip is to think of what you would advise someone else to do in that particular scenario – it helps tremendously to take the emotion out of it.

To avoid this – you have to do what it takes. There are conversations that are difficult to have on your own, so that is precisely when to engage an expert business partnership coach to help you have those conversations with each other. A business partnership coach will serve as an independent third party to your conversations. With a business partnership coach, all conversations remain confidential. Additionally, a coach can help you better understand the benefits – and – the consequences of the decisions you and your partner will make. Business owners who are serious about the success of their business invest in a coach to help make those decisions.

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