Is
Your Partnership About to
Crash and Burn?
by
Dorene Lehavi, Ph.D. This article appeared in the Century City Chamber of Commerce Law and Business Council Newsletter - March, 2004
When Harry teamed up with Joe, everyone thought it was a match made in heaven. Harry was a natural salesman with good design sense and Joe was a shrewd buyer and financial whiz. Together they opened a clothing store that showed every sign of becoming a franchise.
Why after just a year, when the flagship store was a big hit were they struggling with a costly and acrimonious divorce? Why were they talking about bankruptcy instead of the fall line -- when they talked at all?
One of the main reasons was a communications breakdown, which is all too common with partnerships. Few, however, pay heed until it grows into a monster. Statistics show that 70% of all partnerships end in costly conflict.
Have you missed any of the warning signs that could be helped by expert coaching?
The 7C's -- Danger Signs Not To Be Ignored
- Communications breakdown
- Competitive, not complementary interaction
- Conflict becoming the norm
- Cumulative money problems
- Control issues
- Changing vision
- Crisis management impaired
No matter how well suited partners may be in goals, ideas, and dreams, there will always be differences which can turn into destructive forces. These differences may revolve not only around styles, but views of long and short term foals, equity issues such as in division of labor, remuneration, variations in risk tolerance, approaches to managing and marketing, inclusion of family members, or philosophical approaches.
Needless to say, this not only makes for unpleasant relationships but also plays havoc with profits. If you are in a partnership, or considering one and want to avoid becoming a statistic, consider coaching.
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