Partnership

I think the main focus in entering a partnership/joint venture is not only working towards the common goal of the two, but equally as important to leverage off each other’s skills/assets. Having 2 people with complimentary attributes/contributions to the partnership would be seen as the ideal (eg. one partner has the finance, the other partner may do all the work and then perhaps both share in the profit/s). I’m just assuming this may not be how you have structured your partnership. Also, when starting up a partnership I think you should have an ‘exit’ strategy or ‘stage left’ if in the eventuality that you both find yourselves in the position that you currently describe (ie personal ego’s, values, politics, etc). If you can overcome your current predicament for the sake of the business I wish you all the best. However, remember to agree on a strategy if another personal difference arises, at it may. I think the more open and honest you are with each other from the very outset, then the less likely you are for such a predicament to arise.
Best of luck,
Regards,
Gatsby.

“Sometimes the hardest thing to do in life is often the best thing to do.”

Hi,
I’ve been in a couple of partnerships and found the best way forward is the following process:
1. Recognise there is a disagreement that apparently offers no immediate resolution (ie one says black the other says white).
2. STOP. Don’t argue, don’t judge or be critical. Step back and take a breather before things get passionate.
3. Set a time when you will reconvene to discuss the dispute to come to a resolution.
4. Each partner write down their position with all the pro’s and con’s of it. Don’t include anything to do with the other partner’s position, only your own.
5. Meet again and swap paper. In turn (flip a coin if you need to) read the position out loud, including the pros and cons. Then in your own words describe the position (so you would read your partner’s paper and then summarise in your own words). Get agreement on that position as to what it means and what it is. Then do the same with the other position. At this point you may both find you come to an agreement (many times it is an agreement on a third option).
6. Assuming no agreement, look to the partnership mission and vision statments. Look to the partnership goals and plans. Try to match your partner’s position to those goals, plans and statments. If both seem to fit then work through the scenarios of both and work out the cost/benefits.
7. If still no progress, make another time to meet. Go apart and write down a different option, may be hard but the important thing is you are both on the same team and both are trying to achieve the same goals (as stated in your partnership plan).
8. Keep doing this, always remembering to stop before getting heated. Eventually you’ll either come to agreement or you’ll realise you don’t actually have the same goals and then a break in the partnership is probably for the best.

In summary, the best thing I found to do is don’t “argue” but rather “discuss”. All the partners are on the same team, the opposition is outside the partnership not within it. It’s better to step back and write things down than end up arguing because at that point you stop listening to the other person’s ideas and concentrate on being right.

Surrey.