R. Shawn McBride recently spoke about disagreements and changes in partnerships.
Hey, folks, it’s Shawn with you, and I want to talk to you about a very important issue. Do you and your business partner need counseling? Sometimes this comes up in the life of a business partnership. Sometimes the business partners start going different directions, and life changes. One of the things I tell business partners to plan for when we start with them early is we need to plan for the possibility of change. We need to understand that life is going to evolve, and that the business partnership may change. So, how are we planning for that? What are we doing to make sure that happens? And, if these changes start creeping up on us, and the business partners find themselves in a different way, this may actually be a time to get some counseling.
Now, it may not be going to your psychologist, like a married couple or going through couple’s counseling, but it can be about making your business better, and how to work together as a team to do more as a group, and how do we get back to common ground. So, a lot of options when business partners start going different directions.
We’ve talked about buy-sell agreements in other videos and training, and we know that that’s one option is we can implement these buy-sells. But, a lot of times the partners came together for very valid reasons. There’s a reason why this business partnership came together in the first place. They do more together, it creates a team environment, and one plus one equals three, so sometimes the business partners want to stay together.
Now, it’s time to do some counseling and learning, and figure out how to do it. You can bring in outside advisors, such as myself or other business coaches, to help coach through the problem, and find common ground, and re-up your business partnership. You can change the terms of your partnership agreement, adapt to the new situation, and continue moving forward. So, it’s a great option to add to your table.
Do some counseling or renegotiation of where you are with your business partner, rather than throw everything else out. Cling to that greatness that got you where you are, and then start moving forward. If this is something that you’re thinking about, keeping you up at night, check out our blog, www.mcbrideforbusiness.com/blog, www.mcbrideattorneys.com/blog, and you’re probably thinking about how do I maximize my value? Go to McBride for Business, sign up for our newsletter, and you’ll get a sheet on how to maximize the value in your business.
And, of course, like the R. Shawn McBride public page, and go to our McBride for Business Youtube channel, so that you can keep getting great and informative business videos, and emails, and blogs, so that we can continue to learn together and do more together. And, I want to know what’s keeping you up at night. Reach out to me at McBride for Business, or give us a call at 214-418-0258. I’d love to know what issues you’re dealing with, and how we can help you do more. Hey, everybody, Shawn McBride signing off. I will talk with you all again soon.
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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer G Schouten de Jel.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at firstname.lastname@example.org or (214) 418-0258.
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Posted In: Business