Categories: My Business

How is Your Partnership?

Whether you have a 20-year-old business or just turned your dream into reality, disagreements over business strategies happen between partners. Partnerships can help build a companies’ success, but could also lead to its demise. 

How to make sure your partnership thrives:

Review your agreement, decide and document business goals, create a plan to accomplish them, schedule time to “talk business” and be willing to walk away, suggests leadership business coach Marian Banker.

Honesty pays off. Get it in writing, and get counsel are two of the 81 Strategies to Fix a Bad, Falling Apart Business Partnership, from The Toilet Paper Entrepreneur.

To end your partnership outside court, the partner leaving must give proper public and governmental notice as required by law, pay all creditors they owe, return capital investments and distribute remaining assets and profits evenly among partners, according to A.W. Berry, personal finance team manager at Helium.

Bonus PINK Link: Find out how a co-ownership can help build strong revenue.

By Shaniqua Christian

“What I know for sure is that behind every catastrophe, there are great lessons to be learned.” Oprah Winfrey

Cheryl

Share
Published by
Cheryl

Recent Posts

Hello! Holiday Sales Are Here. Are You Ready?

If not, no worries. Here’s how to boost sales and awareness fast… with zero budget.…

4 days ago

Pink Program

2 weeks ago

Turn PR Fear Into Business Success!

You may not be frightened by all of the spooky Halloween decorations, haunted houses and…

1 month ago

REGISTER HERE FOR THE UPCOMING PINK EVENT

CLICK TO REGISTER HERE for PINK’s 20th Anniversary Women’s Empowerment Event on October 22nd, 2024.

2 months ago

REGISTER HERE FOR THE UPCOMING PINK EVENT

CLICK TO REGISTER HERE for PINK's 20th Anniversary Women's Empowerment Event on October 22nd, 2024.…

2 months ago

2024 Success Secret from Hala Moddelmog

“Immerse yourself in the arts every chance you get. Access to the arts can open…

2 months ago