Do you have a business partner? Then perhaps this meme resonates. Among the many 'keep your chin up' memes floating around the internet as we navigate the COVID-19 crisis is one featuring a quote from Dave Hollis, business coach and author of Get Out of Your Own Way that says:
"In the rush to return to normal, use this time to consider which parts of normal are worth rushing back to."
It's good advice. Hopefully, you and your business partners are working together productively to weather this storm. But for some of you, today's challenging business climate may well be bringing to the fore, differences between you and a partner in management style, philosophy, and perhaps work ethic.
Change is coming to your business and business plan, whether you want it or not. It is worth using this time to ask yourself whether you want to navigate these changes with your current business partners, or whether it makes sense to consider an alternative path.
Business Partner Resources
If you've read this far, perhaps this post struck a
nerve. Below are links to additional resources that may help
you consider your future with or without your current business
partners or even if the time comes to find a business partner.
Is it Time to Leave Your Business Partner Behind?
How to End Bad Business Relationships
Think Twice Before Calling the Police on your Business Partner
Getting your K-1 Should be Easier than Climbing K2
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Avoiding the Bank Account Freeze Out
You Want to See What?! A Guide to Business Co-Owners' Rights to Inspect Business Books and Records
Partnership Agreements: Who Reads Those Things Anyway?
What's the Point of being President if you Can't Fire Everybody?
Business Co-Owner or Company Creditor?
Blurred Lines: When Business Owners and Employees are the Same People
LLC Default Rules that May Surprise You
Life's too Short for a Bad Business Partner
Still have questions? Please reach out. I'm happy to talk.
