Are Differing Management Styles Wrecking Your Business Partnership?

A business partnership may be one of the most important relationships you have in life, and it helps if your management styles are in sync. From the beginning, one or more other individuals may be part of that spark, that inspiration, and the business model that leads to founding a new company, along with changing your life forever. And while much of your enthusiasm and continued involvement in a business will be based on success as the years go on, it is vital to put just as strong a foundation under your partnerships as you do your company overall.

Your personality will have a lot of bearing on your style at work, whether you are operating as the CEO, upper or middle management, or working in a creative or technical capacity. You may have a tendency to be a more autocratic leader, while one of more of your partners prefer to consult with employees routinely about matters, offering a more democratic atmosphere at work, as well as mentoring those you work with, coaching them along in their career and taking joy in watching them grow as individuals—benefiting your company in turn as they are a happy and valuable part of your team.

Conflicting management skills can be the precursor to dissolution of or the diminishing of a partnership, much like that of a typical family dynamic. Along with that, managing of finances in the business, clients, marketing strategies, and so much more requires fluid teamwork and partnership. Without positive support from your main people, your business may flounder—and fast. All these issues can begin eroding your work life and continue to cause negative repercussions, which is why it is critical to head off such problems initially with the business partnership. By outlining your specific titles and roles, you know what is expected of you within the company, as well as what you will be paid, when and how profits are distributed, and what happens in the case of a dissolution; more importantly, there should be a dispute resolution clause written into your contract, detailing how any legal disputes would be handled, where, and who would pay for attorney’s fees.

Do you have questions about a business issue, or do you need legal assistance regarding a business dispute? If so, contact the Bolender Law Firm.  Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

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