Going into business is always an exciting time. It’s also a time where you may be operating with complex relationships. Deciding to begin your business venture with someone else can pay dividends if they have skills and attributes that compliment yours.
But not all matches are made in heaven. The power of a relationship can go both ways. They can be just as damaging as they are beneficial. Financial firms, for example, are experiencing higher levels of workplace conflict.
In this guide, you are going to learn about some of the ways that your business partner could be sabotaging you.
Wasting Your Time
There are many ways you can waste time and the chances are you don’t need the help of someone else. A good business partner will keep everything on track when you are finding it difficult to concentrate. And you will do the same for them. If they are distracting you or filling your head with idle gossip, they are taking away from your business.
Luckily, this is something you can do something about. If you are able to keep them focused, they may have other attributes that are needed by your organization. Remind them of their responsibilities and that they have to stay focused.
A Toxic Relationship
Sometimes there are people who don’t get along. This is not because of anything specific to do with them. Certain personality types clash. Certain people are incompatible with each other, and these make for the worst business partners imaginable.
There are no rules for which personality types match and which don’t. You will be able to tell when you are working with someone. If you are finding it difficult to have a conversation without arguing, or if the majority of your interactions involve negativity you are in a toxic relationship.
These are the worst possible relationships for any business because they are sabotaging you from keeping on the right track. You are spending your time focused on each other when you could be focusing on your customers.
They Bring Nothing to The Table
Did you ever work for a company and wonder how a certain manager or director managed to get hired and then keep their jobs?
This may be acceptable in the structure of a company, but if this is the case with your business partner you are placing yourself in an impossible situation. You may have hired them as your business partner because they brought more money than you into the business. You may be friends with them or you could be related.
Think carefully about their position in the business and whether they are only taking up unnecessary space.
What You Can Do About a Business Partner Who Isn’t Working Out
Most sabotaging isn’t done out of malice. A lot of partners don’t realize that the relationship isn’t working out until it’s far too late. And this is when businesses collapse because action is only taken when the damage is done. The key is to identify that there’s a problem early.
There are multiple steps you should be taking to make sure that this is resolved in a way that doesn’t cause a massive amount of disruption to your business.
Talk It Out – To begin with, communicate the issues you are having with them directly. Don’t avoid the issue or try to say it in a nice way. Have an open and honest discussion about things. Give them a chance to give their point of view and to resolve the matter.
Change Positions – Unfortunately, many partners are there because they are funding most of the business. It may be worth asking if they would be willing to take a step back from the day-to-day running of the business. Yes, you may well offend them and they may decide to leave, but if they are making it impossible to function you have no choice.
A Clean Break – Sometimes the only way to deal with a difficult business partner is to cut this toxic relationship out of your business entirely. It may be difficult to do so, but your organization will be better for it. Be aware that it may require a complete restructure of your company.
As you can see, dealing with the prospect of a relationship with a business partner that isn’t working out is a tough issue. You have to be prepared to deal with some difficult conversations. But you will be glad that you did in the long-term because your mental health and the health of your company will be better for it.