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Should you end a business partnership?

At first, your business partnership seemed like a dream, a match made in heaven, your load got easier and your business ran smoothly and successfully with your partner, but recently it feels less mutually beneficial than it is worth. Business partnerships have many benefits, but sometimes things do not work out the way you planned and a partnership can feel like more a burden than a helping hand.

Could it be time to dissolve this partnership? Here are three signs you might need to terminate a partnership.

The trust is gone

It might seem obvious, but trust is hugely important in any relationship, including business relationships. In personal relationships, you need to trust each other in order to operate together successfully. A business relationship is no different.

There needs to be trust in multiple ways. You need to trust that your partner is going to pull their share of the weight and be reliable, among other elements. If you cannot trust your partner, or you think the trust between you has decreased, this could be a sign you need to rethink your partnership.

You cant make decisions

Part of a partnership requires making decisions together, but if it seems like you are spending more time arguing with your partner over small or big decisions, it might be time to rethink your partnership. Good partners should be on relatively the same page. In order to run a business together you need to be like-minded, but if your partner no longer thinks like you, you might need to reconsider your partnership.

If you are spending valuable time negotiating and debating over decisions, it might save you more time and money in the long run to dissolve the partnership.

Its becoming too much work

Perhaps most importantly is the idea of shared work. Many people choose to take on business partners in order to lighten their load, but if your partnership seems like the work outweighs the benefits, this is a key sign that you might want to dissolve your partnership.

Making the decision to end a business partnership should not be taken lightly. Be sure you have given it adequate thought and had time to process. The next steps in dissolving this partnership can be complicated, but it is worth it in the long run to be free of a detrimental relationship.

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Chodos & Associates
1880 Century Park East
Suite 615
Los Angeles, CA 90067

Toll Free: 866-986-7255
Phone: 310-598-3405
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