What's Your Partnership I.Q.?
Self-Assessment For Business Partnerships
Are any of the following true of your business partnership?
(Give yourself a point for every "Yes" answer)
You have a written partnership agreement, but it does not address any relationship issues among the partners. (This assumes you do have a written AND signed partnership agreement.)
Do you not hold regular partnership meetings?
Are the partners headed in different directions regarding the business?
If so, does your divided leadership and resulting loss of focus confuse your employees?
Has your original creative synergy turned into frequent friction?
Are their increasing disagreements among partners over power, control, and money?
Does either partner increasingly complain about the other not doing "his or her share," or lack of fairness in capital investments or work production?
Are you, or any of the partners, experiencing major distraction, serious loss of productivity, or personal emotional toll because of your relationships (or lack of such) with each other?
Is your partnership facing decline or possible failure?
Is your partnership headed for "divorce?"
1-3 Schedule a “heart-to-heart” conversation with your business partners before it gets worse.
4-6 Seek consultation, and soon!
7-10 Your partnership needs major changes if it is going to survive, and you cannot do that by yourself.