What Are The Warning Signs Of A Bad Business Partner?

Are you looking to join forces with a like-minded business professional to take your brand to new heights? Or are you in the midst of a conflict with a business partner you feel is dragging you down? Forgive the cliché, but finding the right business partner can be like finding a needle in a haystack. This is because not all potential partners will have your company’s best interests at heart.

What are the warning signs of a bad business partner?

A difference in vision.

You have a vision for where you want your business to go. Your partner’s vision is misaligned with yours. Clearly, that’s a problem. One of the most critical factors in a successful partnership is alignment in goals, values and work ethic. Of course, you’re bound for a lot of conflict if your views for how to grow the business are different. It’s important to partner with someone who shares your passion and commitment to the company’s success.

“If you and your partner set out with different ideas of where the partnership should go, you’ll find that the business is in a constant state of flux,” notes the UK’s Company Wizard, “This can affect the ways in which you’ll be working and the effectiveness of your business to provide a good level of service to your clients.”

Too much negative energy.

Does your business partner constantly complain about the state of the industry? Is he/she often in a bad mood? Does your partner speak poorly about associates, colleagues and employees? In some cases, it’s best to simply cut ties with someone who is constantly bringing negative energy into the workplace. It’s much more beneficial to have a business partner who focuses on solutions and not just problems.

“If your business partner seems to always have a problem but never a solution, that’s a bad sign,” warns TonyRobbins.com, “Everyone needs to vent from time to time – that’s a part of being human. But if that’s all your partner does, toss them a hint about the power of positive thinking. It is possible for them to change their mindset, if they are willing.”

Poor communication skills.

No matter the type of relationship, strong communication will always be vital. If your business partner is often evasive, unclear or avoids discussing important matters, it is a definite red flag. To run a success company, it’s necessary to be on the same page about your goals. A good business partner is an open and honest communicator. This only helps your business to push forward.

“If you’re having a lack of communication with your partner, or if the communication you’re receiving isn’t clear, it can be a sign that the partnership isn’t working,” says Company Wizard, “If the communication isn’t clear from the outset, it’s likely that it won’t get any better as time goes on, so it can be a sign that you need to cut your losses before the going gets tough.”

Are you considering starting a business partnership?

Or are you looking to get out of one? If you are concerned about the costs that may be involved with either venture, contact Synergy Merchants. Our unique merchant cash advance program can help you! Call us at 1-877-718-2026 or email us at info@synergymerchants.com. You can also apply online for a free, no obligation quote!