business dispute

3 Rules for Handling Conflicts With Your Business Partner

When someone decides to start a business with someone else, they both have the best of intentions to make the company the best that it can be.

They are both dedicated to being successful and profitable with as little conflict as possible. Unfortunately, sometimes conflicts do arise and in some cases those disputes can cause irreparable rifts between the partners. That is why it is important for each partner that they try to resolve the conflict before it reaches a point of no return.

There are a few ways that business partners can settle conflicts without too much acrimony. But no matter which method is chosen, it can be useful if the partners have a business dispute lawyer to help them. The presence of a lawyer might seem like an aggressive move at first, but lawyers can help to facilitate a peaceful and reasonable compromise between the partners. So if you end up having a conflict with your business partner, there are ways to resolve it without dissolving the partnership.

1.Plan Ahead

One way to handle conflicts is to make a plan on how you will handle conflicts. That means anticipating any possible conflicts that might arise and making a plan on how to address them. You and your partner should draft a partnership agreement from the beginning that lays out each partner’s responsibilities and duties. That will make it easier to know when one partner is not pulling their own weight and if they protest, well, you can just show them the agreement. Since the distribution of work tends to be one of the major issues between partners, it is best if they make an agreement about that when they become partners.

2.Do Not Take Things Personally

When business partners do get into a conflict, it can understandably seem very personal when one partner disagrees with another, especially when it comes to big decisions. It’s human nature to go into fight mode when presented with a conflict but it is better to step back, relax, and consider the other partner’s position. That way they can have a reasonable conversation without taking too aggressive a stance. If two people started a business together, then there must already be a lot of things they agree on, so taking the time to consider a partner’s viewpoint—even if it is one you initially disagree with—can only help matters. The two of you share a vision and have mutual respect for each other, and those two factors should not be forgotten if you get into a conflict with each other.

3.Get Outside Help

If things are heating up between partners, then there is no shame in getting help from an outside source. Sometimes, an objective, neutral, and unbiased voice with no stake in the conflict is the best person to help. That kind of person is called a mediator and they can be brought in to help the business partners work through their conflict. That is because the goal of a mediator is to resolve conflicts as peacefully and amicably as possible. That is why each partner should be assured that the mediator has their best interests in mind and does not favor one partner over the other.

Partners Should Try To Resolve Their Conflicts

When two passionate people work together, conflicts are bound to arise, but they should never let those conflicts tear them apart. It can be bad for the partners, but even worse, it can be bad for their business. That is why it is in their best interest to resolve any conflicts as quickly as possible before they get any worse. If things get too heated, then a business dispute attorney will have to be brought in to resolve the dispute.

But there are steps that the partners can take before that option becomes necessary. The partners have to remember that their business was founded on a shared vision and mutual respect and they should remember those factors anytime they get into a conflict with one another.