Daily Law Group
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My partner made the wrong call

Having a business partner can be a tremendous asset. If you are lucky, you can find someone who has strengths where you need the most help.

Including someone as your business partner means trusting them with a significant amount of responsibility. They do, after all, need to be able to act when the business has needs. The danger, however, is that your partner may not make the same decisions you would.

Here’s what to think about if your business partner made the wrong decision.

Learning a lesson

Your partner may have been correct in acting, but sometimes partners take the wrong action. If you want to keep the partnership, you will need to get back on the same page for your vision for the business.

If your goal is continuing the partnership, you should approach your partner with that intention. Start the conversation with your goal of mending the partnership and your desire to work together. As you continue, try to find where your goals for the business differed and what you can do to reconcile the differences.

As you strive to reestablish your partnership, consider getting more involved in the decisions your partner makes before they may act. It may feel cumbersome for a while to be so involved in your partner’s responsibilities, but it will take time to develop your collaborative plan and the trust that your partner can carry it forward.

A step in the wrong direction

The risk of having a business partner is that they can make decisions for the business that you may not agree with. Sometimes it is possible to come back together and move forward after a partner has made the wrong call. Unfortunately, sometimes a bad call means dissolving the partnership.

Although you understood each other and your goals for the business when you started, there may be a time when you realize that you are no longer working well together. Even if this mistake was not enough to end the partnership, watch for other signs that you and your partner are no longer working well together.

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