Five Potential Problems Which Can Potentially Sabotage Even The Most Promising Partnerships!

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Five Potential Problems Which Can Potentially Sabotage Even The Most Promising Partnerships!

Have you noticed how some of the biggest, most financially sound businesses in the corporate world, are finally (or wisely) teaming up, to form some potentially profitable partnerships?

Nod your heads cadets, because it’s most certainly true.

Case and point, you’ve got (or at least) you had until very recently, the strategic alliance (aka) joint venture partnerships between, Fedex (Federal Express) and Kinkos printing business.

You’ve got mega successful fast food giants Taco Bell & KFC (Kentucky Fried Chicken), not only combing their vast resources, but literally doing so out of the same physical location.

Talk about taking resource sharing to a whole other level. But let’s come back down to earth for a second, because in all likelihood, you and I are definitely not going to be forming any type of mega, multi million dollar corporate partnerships with any fortune 500 companies, any time soon, correct?  Bummer!

But should you decide to, or if you’re already involved in some type of formal, (meaning) legally recognized partnership of some kind.

Then you probably want to be acutely aware, of the five all too common ways, they often end up going astray and or falling apart altogether!

So What Are These Five Potentially Avoidable Problems Which May Sabotage Your Partnerships! (And How Can You Avoid Them?)

Hopefully without sounding like I’m trying to trivialize marriage, have you ever heard it said, the various types of (legally) binding partnerships, are very similar to being married?

Because often, it’s for better or worse! And if you’re not acutely aware of these five potentially fatal, partnership killing situations.

It’s very possible, you and or someone you know, love and respect, will definitely fall prey to them. The business world is literally full of examples of this happening over and over!

So let’s examine what these all too common five potential situations are. And how you and I might go about avoiding becoming another victim as a result of them.

1.) Potential partnership damaging situation # one: Potential damaging situation # one is, although you and your partner(s), have decided to join forces and share various resources (and of) the eventual, anticipated gross front and back end profit margins.

In your unending exuberance, you forgot and or neglected to spell in careful detail, what if any, specific front ( and or back end) expenses, will either be taking out up front, before any and all gross profits will be shared.

Or else, you neglected to detail, how or who will be largely responsible for taking care of the gross front or back end, advertising, marketing, promoting and or legal expenses, and to what degree and for how long!

And the net result far too often is, the failure to adequately discuss, (and or anticipate) these potentially deal breaking issues beforehand, all but render the partnership ineffective or mired in constant struggle.

Failure To Anticipate All Too Common Occurrences Often Result In Failed Partnerships!

2.) Potential partnership damaging situation # two: Next up, let’s say you were savvy and experienced enough to discus said issues and decided upon a mutually agreeable percentage of who does what, for how long and to what extent!

Then, (as if) “Newton-s Law” kicks in! The totally unexpected happens in a huge way! Like maybe, one of the senior partners (principals) unexpectedly goes through a rather messy divorce! And or some other potentially devastating legal situation.

That seems to drag on for month or years! And their assets in the business/partnerships are currently frozen, and (worst yet), are being challenged in court! Say what?

Strategic Alliances Can Potentially Be Profitable But You’ve Gotta Stay On Top Of Things!

3.) Potential partnership damaging situation # three: Perhaps you should have discussed, and even put down in writing, how much money, or what percentage of the gross profits, will remain in escrow, to help accommodate any and all refund requests.

4.) Potential partnership damaging situation # four: And in the sad event, one of the primary partners dies, and their spouse and or significant other automatically inherits their percentages of the business.

How (going forward), does this affect the remaining partners and their current, or future responsibilities.

5.) Potential partnership damaging situation # five: And of course the big one! What percentage of the work will be done by whom.

And if they leave the partnership by their own choice or by death, who will initially be -legally- responsible for picking up their slack? And to what degree and for how long!

And who if anybody, has the ultimate final say etc. My friend, these five all too common issues, are just a small sample, as to how and why, a many aspiring, legally binding partnerships, have and will continue to fall apart! Any questions?

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