5 Rules to Deal With Conflict in a Business Partnership

As with any close relationship, chances are that conflicts will occur at some point in a business partnership. When the financial and reputational stakes are high in a business partnership dispute, it is easy to lose sight of the bigger picture and let emotions take precedence over your best interests.

This is why it is so important to involve a skilled business partnership mediator as early as possible in the conflict to ensure a mutually beneficial resolution. Here are a few rules that experienced business partnership mediation experts recommend for dealing with conflict in business.

Rule # 1: Communicate with Respect

Respectful communication and engagement is essential to achieving amicable conflict resolution in business partnership disputes. Each partner should be willing to listen actively to the other side and pay attention to their viewpoints. At the same time, they should put forward their own points and differences of opinion in a respectful manner.

Rule # 2: Keep Emotions Out of the Equation

According to seasoned business partnership mediators, for a meaningful discussion to resolve the partnership dispute, it is vital to keep the emotional component out. In many cases, business partners may be family members or friends. When conflict occurs, it is easy to let emotions blur an objective discussion. But doing this lowers the chances of a resolution and increases the risk of a permanently damaged relationship.

Rule # 3: Establish the Hard Facts

In a business partnership dispute, it is not possible to have a productive discussion to resolve issues if the partners involved in the dispute have completely divergent versions of reality. Therefore, establishing the facts upfront is the right way to approach a resolution. Business partnership mediation experts always encourage the involved parties to recognize a reality baseline and work from there to find possible resolutions.

Rule # 4: Explore Common Ground

When you entered into a business partnership, you probably shared the same goals as the other partner. That’s a good starting point to look back and consider how and why you both got together to pursue a shared vision. Once you are able to agree on the larger purpose of the partnership firm, which still hasn’t changed, it gets easier to identify the deviations from the path from each partner, which may be the source of the conflict.

Rule # 5: Seek Help from a Business Partnership Mediator

In a competitive market environment, the stakes for your business are too high to afford a lingering partnership dispute. It is best to involve a professional business partnership mediation expert, who is a neutral third party. They have the experience to deal with even the most complicated business disputes, and are able to facilitate an informed discussion and propose solutions that may appeal to all parties to the dispute.

Professional mediators with years of experience behind them can help ensure that each partner is willing to give up something for the sake of mutual benefit, and nobody leaves the negotiation feeling ripped off. A business partnership mediator will encourage both sides to see how the mutual benefits of resolving the dispute can far outweigh any potential current sacrifices from both sides.

Seasoned Business Partnership Mediators are Here to Help

While business partnership disputes may become inevitable at some point, they don’t have to end up badly. At Advanced Mediation Solutions, we are committed to helping business partners find ways to overcome their differences, and bring the conflict to a swift end for mutual benefit. To set up your free and confidential consultation with us, call us at 856-669-7172 or write to us online.