Litigation factors into a variety of business situations. In cases that involve partner disputes, complex emotional tension often runs high between people who once shared a vision.
It’s natural for conflict to surface in virtually all types of interpersonal relationships. Depending on the circumstances, dissolution may seem like the only way to protect the interests of all involved. However, there may be better ways for entrepreneurs to handle partner disagreements – potentially, without going to court.
Three approaches to resolving conflict
Collaborative projects can be incredibly rewarding, despite their propensity for conflict. As time and pressure weigh against projected profits, feelings may replace logic, thereby allowing partners to forget they have the same goal.
In some situations, parting ways may best. Yet, a partnership dissolution ought not be the first consideration when things go awry.
For example, if you and your business partner(s) conflict on key issues:
- Respect other’s opinions. Recognizing the strength in your differences can help you remember why you agreed on your chosen venture in the first place. Although it’s often easier said than done, consider how another perspective could help you scale.
- Anticipate challenges. Based on your experience working together, you should be able to identify some likely problems before they arise. A proactive approach may help you minimize the effects of conflict and keep your partnership intact.
- Seek professional support. Vested interest in a project could limit individuals’ ability to compromise. A third party, however, can guide misfocused energy back toward a collaborative approach to company success.
The hard truth is that with the constant potential for personality challenges, resolution is not always possible. However, you may be wise to explore all plausible options before you concede.