What does a lack of communication between partners imply?
What makes a good partner?
How do we detect a toxic partner?
How to resolve differences between partners?
In Pulchra we believe that having advice for a good communication strategy in the company, can imply a great change in the probability of success of a business.
What does the lack of communication between partners imply?
Communication in a business relationship is the fundamental axis to promote productivity and growth of the company.
In the relationship between partners it is not the same that they are imposed, let’s imagine a family business, or that we start a new business and it is like a dating relationship in which we have found a person who shares the same desire for commitment and enthusiasm as we do.
In both cases, I always recommend prevention to avoid conflicts between partners. The family protocol made with real involvement by the advisors or in the case of entrepreneurship, start with good habits such as documenting the agreements and establishing the so-called shareholders’ agreement.
And how does the relationship between partners end, whether they are family or not?
Well, for the same reason as a couple relationship: COMMUNICATION.
Lack of communication in the company can generate distrust, frustration and stress and destroy families, businesses and friendships.
What does a good partner have to be like?
An honest person we can trust.
Someone who has a similar vision of the business.
A financially and emotionally stable person.
A person who has a similar work behavior to ours.
That he/she has skills that add up, that are complementary to ours.
How do we detect a toxic partner?
A person who cares more about his money than about the business, who is not interested in its progress, who does not participate in the economic and social development of the company, who is inhibited, who disappears…
Someone who does not like to work.
Does not face problems. Does not communicate. Inhibits himself.
Someone who is emotionally unstable, fickle, who runs away from commitments.
Someone who has erratic behavior, misbehavior, addictions…
How to resolve differences between partners?
Prevention, prevention and prevention.
Document our business. Write down the agreements.
Everyone must be clear about their role, rights and obligations.
Establish the so-called shareholders’ agreement, and in family businesses, establish a family protocol.
In case there is already a conflict. Communicate and look for solutions.
To have good advisors specialized in business strategy. To use mediation if necessary.