Steps to gracefully leave your partnership: a few tips

Written By Steps To Faculty Published May 20th, 2010

When you are running your business as a partnership, naturally it is a breeding ground for conflict. Either the egos of staffers interfere because everyone wants or thinks to be a chief, or because there are personality conflicts. This is the main reason of ending of partnerships. So, when you end a partnership, end it gracefully. So, how do you leave your partnership with style? The following are few tip for leave your partnership gracefully:

Step 1 Face the fear

You should face the facts that all business do not work and at many times, it is better to end your partnership in spite of dragging it. The main step is to express your intention to dissolve the partnership. You can either verbally express such interest, or the best way is to write it out. Given that there are legalities, both methods are needed, but the written format is optimal.

Step 2 Get a lawyer

Each of the partners can hire a lawyer of his own as there may be many legal matters for leaving your partnership and therefore hiring a lawyer is essential.

Step 3 Set up a meeting to resolve outstanding issues

The best thing to do in this situation is to plan exactly what you are going to say to your business partner about leaving the business. A formal meeting can explain the reason for ending the partnership. Never send e-mails or text messages before leaving the partnership. Even your partner should have a right to reply your questions. If you can solve the problem face to face, there is a possibility of continuing the partnership, but if the matter is out of control, you can have leave the partnership gracefully.

Remember, by taking the interests of others into consideration can save you troubles down the road.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.