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7 Steps to Repair a Damaged Business Partnership

January 20, 2024
in Business
7 Steps to Repair a Damaged Business Partnership
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How to resolve conflict with open, direct, and respectful conversations.

January 19, 2024

Illustration by Travis Constantine

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No long-term partnership — personal or professional — is without challenges. Getting key issues on the table in a timely way and having open, direct, and respectful conversations can reduce frustrations and facilitate needed change. In this article, the authors outline seven steps to take if your business partnership has gotten rocky.

Many people know from painful personal experience that business partnerships, however promising they may start, can come to a place of conflict and even acrimony. In fact, some 50 to 80% of partnerships fail in the first few years.

Rebecca Zucker is an executive coach and a founding partner at Next Step Partners, a leadership development firm. Her clients have included Amazon, Clorox, Morrison Foerster, Norwest Venture Partners, The James Irvine Foundation, and high-growth technology companies like DocuSign and Dropbox. You can follow her on Twitter: @rszucker

Jonathan Becker is a consultant, a resource for business partners, and the founder of The Partnership Works, a firm with a complete focus on the success of business partners. He has worked with business partners in law, engineering, architecture, and other industries to thrive commercially and in their business relationships.

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Copyright for syndicated content belongs to the linked Source : Harvard Business – https://hbr.org/2024/01/7-steps-to-repair-a-damaged-business-partnership

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