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How to handle a dispute with a business partner

Conflict is not something that you can always avoid when you work with a business partner in Michigan. Although you both may agree about things most of the time, there may be situations where you do not. Small disagreements can turn into major ones that can cause an otherwise healthy and mutually rewarding business partnership to crumble. They can also prove disastrous for your company. 

Take some time to learn how to handle disputes with your business partner to keep your partnership and company on track for greatness. 

Do not make it personal 

When disagreements arise, it can be hard for you to remember why and not to take them personally. It is normal for business partners to have differing opinions every once in a while. But when you take those disagreements and react to them personally, it can create additional problems that may be hard to overcome. Make sure the source of your conflict or arguments with your business partner is not personal or an emotional one. 

Keep a calm head and listen to what is being said. Conflicts may be the result of simple misunderstandings. Make sure you understand the issue and focus on the facts so you can come up with a resolution. 

Get everything in writing 

Even the closest business partners experience conflict and arguments about their companies. To keep arguments and disagreements to a minimum, you should create a written agreement that clearly outlines you and your partner’s roles in the company and the steps to take when disagreements occur. 

Resolving business partnership conflicts may require you to rely on outside resources or a neutral third party like a mediator or an attorney. Sometimes it is necessary for you and your business partner to have things put into perspective by someone else to better understand what the issues are to settle them. If you are in a disagreement with a business partner and need some guidance about how to handle it, you should speak to an attorney about the matter.

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