In business, it is always best to be prepared. This means that you must be vigilant to any imminent threat to the well-being of your company. While many threats exist externally to your business, some of them may reside within your company.
A business partnership breakup should never take you by surprise because it needs to be dealt with strategically in order to minimize the negative impact. The following are some clear signs that a business partnership split may be on the horizon.
There is a clear difference in working styles
Everyone is different when it comes to the way that they approach a task. But if you and your business partner's differences in working styles are causing tension in the workplace, you are right to be concerned. As business partners, you need to be a strong team with complementary working styles. Small tensions that arise through clashing working styles can raise additional issues when under pressure.
Your fundamental values are not shared
You and your business partner may not have identical views, but when it comes to fundamental business values, it is important that you share some common ground. Disagreeing, for example, on the ethics of your business or the goal of your company can be a recipe for disaster.
There is an unequal balance of responsibility
If your business partner is shedding their responsibility in key business areas, this could be a sign that they intend to leave the company or that you should consider breaking up the partnership.
If you want to prepare for a business partnership breakup, it is important to fully understand the way that this can impact your business.