Entrepreneurship between several partners is very common today, having partners is an effective way to complement skills and have different points of view when starting a new business or company, however, sometimes there are differences between partners, which are Salvageable, as long as there is a willingness to solve them, otherwise, we would be in the presence of a possible setback that can drastically affect the entrepreneurship. In this article we will share some tips to avoid this type of conflict:
The first conflicts usually arise when the partners have very similar profiles or professional specialties, generally, in these cases conflicts are created by having several points of view of the same specialty (which can contradict each other) and by having “blind spots” in other areas of the business, remember that the idea is to have partners that complement our skills.
Participation in the company
Another problem occurs when the founding partners decide to divide the company into equal parts without evaluating all the possibilities, however, this can generate many problems, since the circumstances or reality of each partner may change over time, for example, if one of the partners withdraw What will happen to their participation? if one partner works full time and the other part-time? Will they have the same participation or will they earn the same? What happens if a partner cannot carry out his activities or work due to force majeure for a long time? Which partner will have the last word in making decisions? As we can see, there are many circumstances that can create future conflicts.
Search for an external point of view
Many companies and businesses since their inception do not have a board of directors or external advisors, it is recommended that partners meet frequently with said board or advisors in order to analyze the steps taken and plan for the future. Presenting problems, doubts or concerns to a third party allows partners to make better decisions and have a more objective point of view about the direction of the business or company.
Define individual responsibilities
It is recommended to distribute the work and assign responsibilities to each partner according to their area of experience or specialty, thus avoiding productivity problems, conflicts or exclusions. A possible solution is periodic meetings to evaluate the progress of projects and define the assigned workloads.
Solve problems before they arise
In the same way that a business plan is developed, it is a good idea for the founders to meet to discuss potential problems and think of solutions before they occur. For example, clarify how, when and how much each founding partner will be paid, and business growth strategies. This is essential when starting with society.
Good communication is essential in order to overcome all possible differences, and achieve a single “road map” in terms of the objectives set by the business or company. Much emphasis is placed on the need for dialogue on ideas, frustrations and concerns, both individual and collective, thus avoiding accumulating resentments and mistrust, before they become real problems.
Respect for decision-making between partners
It is important to establish a transparent and fair decision-making system for all partners, for example, there may be voting among all partners (taking into account their level of participation in the company) when making an important decision, it can also be established that a certain partner is the one that has the “last word” when making decisions.
What do you think about this topic? Do you have any other ideas to avoid conflicts between partners?
Image by Austin Distel via unsplash.com under creative commons license.