While you and your business partner may have started out with a common vision and compatible goals, over time, things can change within the business and also in the relationship between the partners.
What happens when you get to the point where it seems as if all you are doing is trying to resolve conflicts between the two of you? Is it time to throw in the towel?
Keep communicating with each other
Nothing gets solved with the silent treatment. So, keep talking with one another, but make sure both of you are respectful. Conflict resolution is a learned skill, so if you feel ill-equipped in that area, reach out to a professional mediator to help you reach common ground with each other.
Take down the temperature
Letting your emotions take over the discussion is not productive. This can be especially problematic if you happened to go into business with a family member, in-law or a close friend.
In worst-case scenarios, it may be necessary to dissolve the business partnership in order to preserve the relationship with the friend or family member. By refusing to allow unproductive discussions to escalate into screaming arguments, that might still be possible.
Define the problem
Some business partnerships fail for predictable reasons. But the two of you could have very different ideas about what the problem really is. Have both partners write down or speak their minds without being interrupted. See where the problems diverge and dovetail and work from there to reach accord.
Search for common ground
Can the two of you agree on a course going forward? Sometimes, the only thing that can be agreed upon is that the two of you must end the partnership. If that is the conclusion, learning more about your legal rights under the law is always prudent.
