Starting your business with a friend or colleague can give you the emotional support of working with someone familiar while adding an extra person to support your new company. Initially, the novelty of starting a business can help you both overlook some of the challenges that come with working together.
Working with a difficult business partner can make your dream-come-true start to feel like a nightmare. While your business may still be growing, getting your partner to act more like a teammate can feel impossible.
It can be disappointing when the partnership does not work the way you hoped. These are some signs that it might be time to dissolve your partnership.
Never doing their fair share
In the beginning, you may have been able to count on your partner for support for your business. While there may have been times when you covered for each other, there was balance.
As time passed, you may have noticed that your partner’s enthusiasm for doing their share of the work has started to wane. You should start by talking to your partner about their goals within the business. Still, if they are not willing to change their habits to support the company’s goals, it may be time to part ways.
Part of having a business partner is having someone who has different ideas. You know you do not need to agree on every decision. Still, there is a critical difference between respectful disagreement and petty arguing.
In some cases, arguing over minor issues can signify that your partner is no longer interested in pursuing this business. When your discussions turn to unproductive arguments, it could be a sign that you and your partner no longer have the same goals.
Your company depends on you to maintain growth and stamina. If you and your partner are at odds, it can be impossible to keep your business going. While you may be able to work through tough times, you may reach a point when you need to dissolve your partnership.