Signs that You Need To Dump Your Business Partner

Oleksiy Nesterenko

1. Communication Problems

If you find yourself leaving multiple voicemails, resending the same email, or actually having to physically chase down your business partner to get work done, it's time to find a way out. Communication issues are the number one problem between business partners and can wreak havoc on your business operations. If you can't work together, break up.

2. Naysayer

Business partners that shoot down every idea, for no apparent good reason, are very difficult to work with. If your partnership is new or in the planning stages, this negativity isn't going to get better, just much, much worse. It will be nearly impossible to be the flexible, opportunity-seizing company your startup needs to be if your partner throws up roadblocks to all new ideas. If you have been in the partnership awhile and the negativity is new or getting worse, the partner is probably looking for a way out or is dealing with other issues that are overshadowing the business's needs. Step away.

3. Overly Agreeable

A partner that just agrees with everything you say is nearly as bad as a naysayer. A yes-man is either uninterested or desperate, and neither of these qualities makes for a good business partnership. One of the great advantages of a good partnership is the give and take, the debate, and the alternative perspectives about what to do and how to do it. Startups are replete with obstacles and tough decisions...if your partner can't or won't contribute to the decision-making process, you are better off on your own.

4. Money Obsessed

If every conversation you have with your business partner begins and ends with how much he is going to take home that week, his priorities are out of whack for building a successful company. Yes, the whole point of launching a company (for most entrepreneurs, anyway) is to make a bunch of money, but the path to riches requires focus on the details of operations, customer service, and seizing opportunities, not just profit. If your partner is too short-sighted for the long haul, drop him off at the nearest exit.

5. Lazy, Disorganized, or Uninterested

If your partner is just not pulling his load, for whatever reason, it's time to re-evaluate the relationship. Some people require a specific to-do list to be productive, some do better prioritizing their own tasks, others just need to be wound up and sent on their way to getting work done. But if your partner doesn't respond to any attempts at getting them on task, the health of your startup depends on getting him out of the way.

In many cases, business partnerships work out perfectly for everyone involved. In other cases, toxic partnerships drag the whole company down...sometimes forcing the business to close altogether. If you have concerns about your current business partnership, don't wait to see if it will improve. Sit down and have a talk with your partner... you might be surprised to learn that he or she has concerns as well!

Looking for someone who can assist you in setting up of your business then turn to Oleksiy Nesterenko Startup Finance a professional startup consltancy. Oleksiy Nesterenko Startup Finance and Consulting Services is qualified and equipped to assess your business and all of its needs before you have to make any important decisions.

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