In a business partnership, as with all close and intimate relationships, conflicts among individual partners may inevitable arise during the course of conducting the business of the firm. It is natural for people who are working intimately with each other to become emotional and neglect seeing the larger picture in any commercial intercourse especially the individual partners’ stakes are high.
Anura Leslie Perera, a prominent global expert on how to run business partnerships successful explains conflicts with individual partners in a partnership does not necessary lead to disruption of the business of the partnership firm. There are ways for partners to resolve their differences amicably in the best interest of the business of the partnership firm so that each individual partner feels that his/her co-partners are taking his/her point of view into consideration while resolving the conflict issue. The Anura Perera Kenya office is one place where many aspiring business partners go!
This prominent expert goes on to explain four essential tactics, which individual partners of the partnership firm need to master in order to handle and resolve conflicts that arise in the course of conducting the business of the partnership firm amicably:
- Plan ahead where possible and prevent conflicts before they start
If the individual partners feel that while conducting the business of the partnership firm, there are certain contentious issues that are likely to become the cause of conflicts between individual partners, it better for them resolve such issues at the earliest. Such issues normally arise in when one partner feels that the other partners are treating him/her unfairly in terms of workload leading to a conflict of interests.
- Do not make a harsh and irrational judgment
Entrepreneurs of small business enterprises have the luxury of taking every business decision on every issue concerning the business enterprise regardless of how large and personal the decision may be for the entrepreneur. However, when a contentious issue arising among the partners of a partnership firm, it is essential for every partner to have the patience to stop and consider views of their co-partners to resolve the issue amicably and quickly. In such a situation, it is imperative for all the partners to consider the bigger picture on why they came together to form the partnership in the first place.
- Have an active listening session
While resolving a contentious issue that is likely to result in a serious conflict between the partners, it is essential for all the partners to agree to sit and patiently hear the aggrieved party’s point of view and consider it before reacting. This an ideal and remarkable way to lower tempers among the partners that can lead to a quicker resolution of the issue and an outcome that is acceptable to everyone.
- Seek outside help if necessary without any hesitation
At times, it may be prudent for the partners of a partnership firm to seek outside help in the form of professional mediators to all kinds of disputes faster and cleaner with an outcome that is acceptable to all the partners.
Anura Leslie Perera says the conflicts in partnership firms will arise and are inevitable but the partner must lose sight of the larger goals and endeavor to resolve all issues amicably. To know more visit the Anura Perera Kenya office!