Starting a business with a partner begins with sharing high hopes and big dreams. Unfortunately, some professional relationships do not survive the test of time.
Every entrepreneur who launches a venture with another should know the signs that the partnership is no longer fruitful. When red flags appear, it is time to consider going separate ways.
Vision and goals no longer align
When business allies do not have the same perspective and desires, it creates a rift that can harm profits. In cases where discussions about the company’s direction lead to tension, it may indicate that the partnership should end.
Constant conflict
While disagreements are normal in any business relationship, knockdown fights are not. If partners cannot resolve disputes and find that their interactions are more often negative than positive, the union may be responsible for hindering growth.
Trust issues
Knowing that someone is loyal remains the foundation of any healthy business partnership. Should doubts about decisions, honesty or integrity arise, ending the partnership may be for the best. Concerns can stem from broken promises, undisclosed financial decisions or a general lack of transparency. Once trust erodes, partnerships often become unsustainable.
Inconsistent work ethics
Differing work ethics typically lead to frustration and tension. There is an inherent imbalance when one partner is always willing to go the extra mile while the other does the bare minimum. It may be impossible to get the slacking person to change.
Early recognition of these signs can avoid prolonged stress and keep a business thriving. Although the choice to end a partnership is never easy and sometimes involves litigation, parting is occasionally the wisest path forward.
