This week I’ve been asked about business partner
relationships. I’ve spent the past couple of days dedicated to covering this
topic on my blog. As a result, I
received a Tweet request on how to break up with a business partner. Well,
first- you have to ensure you can legally do this. Then you have to consider if
doing this will harm your company vs. if your feelings are simply hurt. If your
feelings are hurt and letting go of the partner will harm the company, then this
is a bad move to make. If your feelings are not hurt and keeping the partner on
will harm the company, then this is the right move to make. Can you see where I
am going with this?
Back to the point….. there are going to be times in life
when people either grow apart of have a difference in vision when it comes to
business. Below are my top three ways to let a partner go.
- Make sure you have a
contract going into the relationship. When you have to break up- don’t get
personal about things, get contractual about them.
- Never say anything
negative about the partner in public or in an email. Be as positive as
possible – even if the other person is being negative. Remaining positive
will help your mindset and other people will natural gravitate to your
side of the matter.
- Be willing to take a loss,
after all- losing a partner is a loss. You will have to prepare yourself
for a lot more bumps in the business road. This is going to be hard, but
not impossible. You can continue on without a business partner. If someone
is harming your company, or your brand, it is time to call it quits. Like any
relationship, don’t stay involved with your business partner simply
because it is hard to say ‘no’ to them or because you are scared to
venture out on your own.
Until tomorrow,
COCO the CEO
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