Jack Mencini and Adam Sonnhalter, business coaches with Maximum Value Partners and co-hosts of the weekly radio show/podcast Dirty Secrets of Small Business discuss an email question from one of their listeners on the timing of splitting from your business partner. They bring up the point Jim Collins asks in his book Good to Great: Would you be distraught or secretly relieved if one of your team comes to you and announces that he or she is leaving?
If you are secretly relieved… it is time to do something. If you need more time to prepare for it… there are key things you can do and Jack and Adam bring the guidance without emotion to help the small business owner take the next steps. It is painful to make the next steps and they understand this.The coaches have had experience with business partnerships when the go right and many times when they go wrong. The have the skills and experience to be objective and offer advice and next steps to help business owners map out a plan of action.
“When the negativity is growing, the worse thing you can do is do nothing,” says Jack. “That is not what is good for you and most importantly for the company… you need to do something for the company and the rest of the team.”
The challenges they have seen are how to bring the subject up with both partners and take the next steps. Jack and Adam are able to bring the parties together and start the ball rolling to talk about the situation to either fix the problem, offer solutions and give guidance for those next steps.
For the entire overview on how to know when it is time to split with your business partner, listen to the January 16th podcast. Access all the Dirty Secrets of Small Business podcasts on iTunes or here.
Do you have any How Questions of your own to email to Jack and Adam? Do it by sending your questions to firstname.lastname@example.org or submit a question on their web site by following this link. Many of the How Questions can also filter back into the 7 Keys to Success to help you deal with these questions.
If you have a success story or a question you would like to share, email or call (email@example.com or 877-849-0670). You can also call in during the show each week at noon (EST) – 1:00 pm on WINT 1330 AM, call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches!