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Even the strongest partnerships can face disagreements from time to time. When these disputes reach a stalemate or escalate to the point where one party considers legal action, it’s crucial to address the issue before it worsens. Resolving conflicts efficiently can safeguard both the business and those involved. However, maintaining a calm approach isn’t always simple in the business world. Minor disagreements with a partner can often become the most difficult to resolve without legal intervention.
To assist in navigating such situations, we’ve put together some strategies for resolving conflicts with your business partner that may be useful.
Show Mutual Respect
Respect is the cornerstone of any resolution. Both partners should listen attentively and consider each other’s viewpoints. This should be done with respect and openness, as only then can both sides start finding a suitable solution. If necessary, an impartial third party, such as a mediator, can be introduced to ensure everyone is aligned.
Avoid Emotional Reactions
Business partners can develop close, almost familial, relationships, which can make it harder to keep emotions in check during disagreements. When emotions take the lead, collaboration often gives way to competition. It’s essential to set emotions aside during discussions, as emotional reactions can prevent any meaningful resolution.
Focus on Shared Objectives
As business partners, you both care deeply about the company, your team, and your clients. You also share common goals for the business’s future. Let this shared commitment form the foundation of your resolution.
Shift the Perspective
A useful approach for resolving disagreements is to “reframe” the issue, focusing on the underlying interests rather than entrenched positions. By shifting the conversation toward each party’s interests, while applying the principles mentioned above, you can facilitate a smoother resolution.
Strive for Compromise
No matter the dispute, both partners should prioritize the health of the relationship and the business over the need to “win” the argument. Instead of pursuing a victory at any cost, aim for a compromise that both parties can accept. Though it might not be a complete win for either side, in the long run, both partners and the business will benefit.
Take a Pause
If discussions seem to be at a standstill, it may help to step away from the negotiation table temporarily. Take a break, change the scenery, or engage in unrelated topics, such as talking about family or other personal interests. After the break, you might return with a refreshed perspective and new ideas for resolving the conflict.
The measure of a strong business partnership isn’t whether conflicts occur—they inevitably will. Instead, it’s about how partners handle disagreements when they arise.