Many business owners start their business small before building up a team. While every member of your team is important, if you have a business partner, this individual is likely pivotal to the success of your company.
While you and your business partner may have overcome many hurdles together, when one partner is unhappy, it can lead to trouble for the business. Here are a few things to know about the reasoning behind why conflicts may arise.
Nobody knows who’s boss
Unclear expectations and roles can be confusing for everyone. If you and your business partner don’t have clear roles and responsibilities, it can lead to uncertainty in the workplace and friction between the partners as time goes by. Your employees may not know who to go to for what, and resentment can build up.
In a business partnership, it is vital that both parties know exactly where they stand. The best way to ensure this is by drafting contracts that expressly state the terms and conditions of the relationship.
Similarly, without clearly defined responsibilities, one party may end up taking on more than the other. Whether one partner has an overwhelming workload or is feeling like their talents are underused, this can lead to conflict between the partners that can spill out into the workplace.
It’s important that all of your staff, including your business partner, have a good work/life balance. Regular discussions and meetings where different views can be aired are useful to ensure that nobody feels taken advantage of.
Unfortunately, some business disputes are tricky to resolve. If you are in such a situation, it’s in the best interests of your company to seek some legal guidance.