When you start a business with another person, you never want to think about a time where you will want to “break up” with you partner. However, even the most successful businesses experience a partnership split.
You are not alone if you are contemplating breaking off from your business partner, as many business partnerships do not last forever. Plus, it is best to make an amicable split from your partner before things become disastrous. It is not always because your partner has done something criminal that you need to break up, so how do you know if it is time to make the official split with your business companion?
If you are finding it hard to trust that your business partner is going to follow through on what he or she says they are going to do, it is not a good sign. Similarly, you want to be able to trust that they are not undermining you in any way. Trust is the backbone of any partnership and if it is lost, it may be time to rethink the situation.
When you first became business partners, it is likely that you had a similar work ethic, or your differing work ethics complimented each other. If your ethics no longer match up, or you feel that your partner’s ethics have evolved in a negative way, it may be time to seek change.
If you or your partner’s goals for the business have shifted, it may be wise to sit down with them and talk about it. If you cannot come up with a way to have the same goal for the business, it is time to look elsewhere.
Splitting up with your business partner is challenging and not enjoyable to think about or go through. However, it may be what is best for you and your company in the long run.