Risk

How to handle a problem business partner

I’ve been having major difficulties with my business partner for a new venture we’re trying to grow. Any tips/advice for remedying the situation?

Most problems between partners occur because there isn’t a clear definition of roles, expectations and responsibilities. One person often sees themselves as the big thinker but needs someone that can follow-through on those items. The other person that is great at execution needs someone that can sit down long enough to clearly articulate the path. Neither role is sufficient for a successful business. If each one doesn’t understand what needs to be accomplished for a successful business, it will be a difficult road.

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You can’t get your money, unless you ask for it

4 weeks after I had completed his taxes for him, I asked this friend-first-removed if he had received his refund yet. He confessed that he has the forms signed, but he has not mailed them in yet.

“Well — you know you can’t get your money, until you mail the forms in….”

It’s the same in life and work. It’s more difficult to get what you really want if you don’t explicitly ask for it and then follow-through with your plan.

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