Going into business with a partner can be a great way to spread risk, to draw on each other’s skill sets, and to combine resources to grow your business. But, at some point, the partnership may not be serving either you or the business well. It might be time to dissolve it.
Dissolving a partnership is a delicate affair. It should be done in a respectful but efficient manner, and in a way that won’t hurt the surviving business.
Sign That It’s Time to Dissolve A Partnership
If you’re unsure if it’s time to end your partnership, you may be picking up on some of these signs.
The first would be a mismatch between partners. A lack of fit can take the form of different business goals or vision for the business’ future. It could also be more serious, such as a clash over ethics or work ethic. If you’re noticing signs that the fit may not be there, and attempts to address them with your partner have failed, it could be time to split.
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