What might result to cases like this could be a lack of interest in activities that profit the business by one of the partners. Starting a business with one or more partners can be an excellent way to combine resources and draw on the different strengths that each partner brings to the venture. As with any relationship that involves human beings, however, you must be prepared for the potential of conflict with a business partner. It may be inevitable, but that doesn’t mean it needs to ruin the business relationship or the relationship the partners had before they went into business together. Below are three tips for how to avoid this type of conflict and what you can do if it does come up.
Each person in the business partnership should have a good sense of his or her skills, strengths, and weaknesses. This information, along with the past work experience of each business partner, should determine the role each person plays in the new business. Assigning roles from the start can help the partners avoid wondering who is doing what later and experiencing conflict because of it.
It’s not realistic that each business partner will split duties equally. Assigning roles and responsibilities such as accounting, payroll, marketing, and hiring employees, ensures the completion of all tasks without overlap and without anyone dropping the ball. Don’t be afraid to visit the topic of division of duties again if conflict arises due to uncertainty.
Here are four tactics that will help you handle conflicts with your business partner:
1. Plan Ahead When Possible, and Stop Fights Before They Start
If there are topics you know will likely prompt a disagreement down the road, see if you can cut them off before they start. For example, one of the most common fights among partners is that one partner feels she’s doing an unfair amount of the work. If you’re heading into a new expansion phase, or holiday season, or any other unusually busy time, lay out specific responsibilities in advance, so there can be no questions about the division of labor.
2. Don’t Rush to Judgment
For the owners and operators of a small business, every decision can seem large, and often deeply personal. When your partner disagrees with you on an issue that’s important to you, it can be very easy to shut down and shift into battle mode. But finding the patience to stop, take a breath, and consider your partner’s position will be a huge determinant in whether the argument gets resolved quickly and painlessly, or not. Remember the bigger picture: you entered into this partnership because you both shared a vision for the business, and you each brought strengths to the table. If you value your partner as a whole, you must value her viewpoint on this issue, even if you don’t agree with it.
3. Have an “Active Listening” Session
This is a common dispute-resolution tactic in which each person agrees to sit and listen to the other’s position and opinion, without speaking or reacting, for a set period of time — usually around 3 to 5 minutes. It’s a remarkably useful tool for cooling tempers and giving each side new insight into the other’s position. In a business partnership, it matters less who wins than how each partner feels once the conflict is resolved — if one side feels marginalized and resentful, that result can poison the partnership, and the business, over time. Practicing active listening and other exercises like it can ease any ongoing tensions and make each side feel heard.
4. Don’t be afraid to ask for outside help.
Sometimes, a neutral third party is what’s needed in order to resolve a dispute. The entire field of mediation exists for this reason. Mediators are trained to handle disputes of all kinds, and using one could lead to a cleaner dispute, a faster resolution, and an outcome that is more favorable to both parties. If the outcome is a compromise, a mediator can ensure that each side is giving up a fair amount, and that no one leaves the negotiating table feeling ripped off.
