Signs Your Business Partnership Might be Doomed

I want to talk to you about a really important topic today: business partnerships. They can be amazing when they work out, but sometimes they just don’t, and it’s crucial to recognize the signs that things might not be going well.

So, here are fifteen warning signs that your business partnership might not work out:

1. You and your partner are always arguing or disagreeing: It’s normal to have some disagreements, but if you find yourselves constantly arguing and unable to find common ground, it could be a sign of trouble.
2. You and your partner have different goals: If you want to grow your business, but your partner is content with the way things are, it can create tension and hinder progress.
3. Your partner makes decisions without consulting you: Collaboration is key in a successful partnership. If your partner is constantly making decisions without involving you, it shows a lack of respect and communication.
4. Your partner doesn’t take responsibility for their actions: Accountability is important in any partnership. If your partner refuses to own up to their mistakes or constantly blames others, it can be a red flag.
5. You feel like you’re doing all the work: A partnership should be a team effort. If you’re carrying the majority of the workload while your partner slacks off, it can breed resentment.
6. Your partner doesn’t value your input: It’s essential to feel heard and validated in a partnership. If your partner dismisses or ignores your ideas and opinions, it can create frustration and hinder progress.
7. Your values and ethics don’t align: A successful partnership requires shared values and ethics. If you and your partner have conflicting principles, it can lead to constant clashes and disagreements.
8. Your partner is not committed: To build a successful business, both partners need to be fully committed. If your partner is not putting in the necessary time and effort, it can hold back your progress.
9. There’s a lack of trust between you: Trust is the foundation of any partnership. If you constantly doubt your partner’s intentions or feel like they are deceiving you, it’s a sign that things might not work out.
10. Your partner is not pulling their weight financially: Effective financial management is crucial for a business. If your partner consistently fails to contribute their share or mishandles funds, it can put your business at risk.
11. There’s a power imbalance in the partnership: A healthy partnership should be based on equality and mutual respect. If one partner always has the final say and exercises control over the other, it can lead to resentment and conflict.
12. Your partner lacks the necessary skills or knowledge: Each partner brings unique strengths to a business. If your partner lacks the skills or knowledge needed to fulfill their responsibilities, it can hinder your success.
13. Your partner is not reliable or consistent: Reliability and consistency are vital traits in a partnership. If your partner frequently misses deadlines or fails to follow through on commitments, it can damage your reputation and affect your business.
14. Your partner is resistant to change or innovation: In today’s fast-paced business world, adaptability is essential. If your partner is resistant to change or dismisses innovative ideas, it can hinder your growth and competitiveness.
15. Your partner lacks integrity: Trustworthiness and honesty are crucial in any partnership. If your partner engages in unethical practices or displays a lack of integrity, it can damage your business’s reputation and lead to legal issues.

If you notice any of these warning signs in your business partnership, it’s important to address them and have an open and honest conversation with your partner. Sometimes, despite your best efforts, partnerships just don’t work out, and that’s okay. It’s better to recognize the signs early on and take the necessary steps to protect yourself and your business.

Remember, a healthy and successful partnership can be incredibly rewarding, so don’t be discouraged. Just keep these warning signs in mind and trust your instincts. Good luck!

Partnerships and deals don’t always turn out as expected. Sometimes, factors outside the agreement can prevent it from being formalized. Other times, poor communication skills or inflexibility in goals and approaches can affect the partnership. It’s important for leaders to be aware of the state of a pending deal or partnership, especially if there are subtle signs that things aren’t going well. Being aware of potential issues can help the business prepare to find alternative options if needed. To shed light on this topic, I asked members of the Young Entrepreneur Council (YEC) the following question:

When you talk to a potential partner or vendor, what is one warning sign that a pending deal or partnership may not work out?

Recognizing a Bad Business Partner

Hey there, let me share some insights from members of the YEC community:

1. Poor Communication

You know when a partnership won’t work? When the communication is lacking. If we can’t understand each other or there are delays in responses, that’s a clear sign that it’s best to call off the deal. The way we communicate upfront says a lot about how we’ll work together in the future. So, don’t assume communication will magically improve if it’s not great from the beginning. – Diego Orjuela, Cables Sensors

2. Unaligned Mission and Vision

Whether I’m working with my team or considering a potential partnership, our mission and vision should always be in sync. If one of my colleagues or partners chooses a different path, it leads to chaos and mismanagement. If we’re not on the same page, I’d rather cancel the deal altogether. – Daisy Jing, Banish

3. Inconsistencies

When considering a potential partner or vendor, the biggest red flag is inconsistency. Sometimes vendors may not be completely forthright because circumstances change beyond their control. The important thing is to pay close attention to how they handle these changes. Do they make personal sacrifices or do they expect you to bear the cost? – Blair Thomas, eMerchantBroker

4. Evading Questions

If you ask a question and notice that certain parts of it are being avoided, even after asking in different ways, this could be a sign that something is amiss. It’s crucial to collaborate with a partner who always gives you direct answers, no matter what you’re asking. Otherwise, the partner may be hiding something or being untruthful. – Serenity Gibbons, NAACP

5. Lack of Adaptability

In today’s world, when it comes to partnerships, it’s crucial for both parties to benefit. If you’re considering working with a vendor or partner who isn’t flexible and doesn’t offer any assurance of success for both sides, it could be a risky move. Remember, as the customer, you have every right to expect reasonable accommodations from your vendor.

6. Taking Responsibility

Nobody is perfect all the time, and we all make mistakes. But if your partner, vendor, or team member can’t own up to their mistakes and instead point fingers at others, it’s probably not a good fit. Your business needs team members who take responsibility for their actions, so it can thrive and reach its goals.

7. Trash-Talking Others

When someone spends a lot of time talking badly about their competition or former clients, it’s a sign that they may not be a good partner or vendor. If they are willing to say negative things about someone they just met, it suggests they are difficult to work with. And if the partnership doesn’t work out, you might end up being treated the same way. It’s best to be cautious in such situations.

8. Not Respecting Your Time

One of the biggest warning signs for me is when someone doesn’t respect my time. If they are always late, miss calls, or cancel meetings at the last minute, it shows that they probably aren’t a good fit. Being careless with one’s time indicates a lack of respect for what they are doing and a disregard for others. Personally, I take pride in being punctual and I expect the same from others I work with.

Have you ever been in a situation where you or the person you were considering partnering with lacked enthusiasm? Let me tell you, that’s a red flag. When there’s no excitement, it usually leads to poor communication, short meetings, and indecisiveness. A good partnership should bring out the best in both parties, leaving you feeling thrilled.

10. Not Focusing on Success Together

Here’s the thing, if you’re only focused on your own success, it’s not going to work out. A partnership should be a win-win situation, with both sides benefiting and achieving their goals. Only talking about your own benefits won’t lead to a successful partnership. Trust me, it’s a recipe for disaster.

11. Dwelling on Complaints

When someone I’m considering partnering with spends a lot of time complaining about past employers, colleagues, or partners, it raises a red flag for me. We all vent a little, but if all they do is focus on the negative, maybe the problem lies with them, not the people they’re complaining about. – Chris Madden, Matchnode

12. Unclear about What’s Expected

If we’re going round in circles trying to agree on what we’re supposed to deliver, it might be impossible to get this person to clearly define their expectations. That can work in personal relationships, but when it comes to work and money, everyone deserves to know exactly what’s expected. – Yaniv Masjedi, Nextiva

13. Moving Too Fast

14. Keeping Tabs on the Competition

If someone I meet with talks more about what their competitors are doing than showcasing their own product or business, it makes me question their confidence. A company that believes in what they’re offering will focus on themselves and find ways to create the best partnership possible. – Andrew Saladino, Leader at the Kitchen Cabinet Kings

15. Checking for Credibility

Whenever I collaborate with a new vendor, I always make sure to do my homework. I check their background and reach out to their previous or current customers or partners for references. If the company has a shady background or can’t provide any recent or current customer experiences, then I know it’s time to move on. – Kristin Kimberly Marquet, Owner of Marquet Media, LLC