Your patience with your business partner has become thin. This partnership, which used to be profitable and mutually beneficial, is now dysfunctional. It’s possible that we need to part ways professionally. If so, how do I go about it?
Marriage and business partnerships are sometimes used as analogies because they have similar dynamics. You are legally bound to this person, and whatever happens to them, happens to you. Having the foresight to know when to stop could save you money and stress down the line. Keep reading to find out the warning signs that your partnership is doomed. To know more about your legal options, click here.
There is no more polite discourse possible.
If the two of you are down to sniping at each other and exchanging cold messages, it may be time to have the difficult conversation about terminating your relationship.
The two of you have zero mutual respect or trust.
Trust and respect are the cornerstones of any fruitful business engagement. It can be quite difficult to reach your common goals without these two ideas.
You no longer have complimentary skills.
The most productive business collaborations involve people who bring different sets of skills and experiences to the table. Maybe you’re the creative kind while your better half is the number cruncher. Your new bookkeeper is doing such a great job, you may start to wonder if your partner isn’t just a dead weight at this point.
In terms of where you want to take the business, you two are completely on opposite pages.
You’re happy with the modest size of your Casselberry, Florida, coffee shop. Your business partner has big plans to grow throughout the state of Florida and beyond. It’s now completely unrealistic for you to achieve your goals.
What should you do now?
Your partnership dissolution plan should be laid out in your partnership agreement. Adhere to it to the letter, and then exchange best wishes as you part ways voxbliss.
If this is not the case, however, you may want to consult with a business law attorney in Florida for advice on how to legally dissolve the partnership and take sole control of the company. It is crucial that steps be taken quickly. It’s not uncommon for a disgruntled company partner to steal money or assets from the partnership and use them for their own benefit once they go it alone stylesrant.