Top Three Tips for Ending Business Partner Disputes

A good relationship can turn ugly when you’re not prepared for the conflict.  Unfortunately, even business partners that have worked well together in the past can struggle over certain issues.  If these cases can’t be resolved on your own, you might turn to arbitration or mediation to help you resolve the conflict.

There are some steps you can take to help facilitate conflict resolution effectively.  In the midst of a partnership dispute, being committed to finding common ground can go a long way towards promoting a peaceful working relationship.

To start with, see if you can identify the root cause of the problem.  Many times, the root cause of the conflict goes deeper than what you are arguing about on the surface.  Be reflective about your own role in the conflict and see if you can figure out the primary reason that you have been arguing with your business partner.

As a second step to resolving the conflict, engage a third party neutral.  A person who doesn’t have a stake in the outcome of the conflict may be in a better position to guide you to resolution.  In many cases, an arbitrator or mediator can play a key role in brokering peace between two feuding business partners.  Use this as your opportunity to examine the critical issues between you and the other partner or partners.

Once you have resolved the issue at hand, it is a good idea to think about the business plan as a whole.  Evaluating your business plan and aligning it to make it suitable for all involved parties can help to reduce future conflicts and improve business operations.