Business partnerships will fail from time to time. Disputes arise and partners find themselves in a falling out. Sometimes they can resolve things and begin working together again. In other cases, the falling out is so significant that one of them has to leave the business or they close it down entirely.
But why would they have such a serious conflict? If you’re already in a business partnership, you may want to know what red flags to watch out for. Here are three potential reasons for a falling out.
1. Different levels of motivation
In some cases, one person is very hungry for growth and success. But the other person doesn’t seem nearly as motivated and doesn’t put as much energy into the business. Eventually, the person who is doing the majority of the work may feel like they are being taken advantage of.
2. Different goals and values
Another potential issue is when both people have different values or different goals for the business. Maybe they have an entirely different vision for what they think the company can be in the future. This can make it hard for them to work together and they may even feel like they are working against each other.
3. Poor performance
Finally, there are certainly cases in which a partnership falls apart because one person doesn’t perform as well as the other. One partner may end up feeling like they are doing everything in their power to make the business successful, but that the other person is lacking in the necessary skills or abilities to contribute. They may want to dissolve the partnership or look for a new business partner.
When these disputes happen, it’s quite important for business partners to know exactly what legal steps to take.
