As an entrepreneur, having a business partner can be both a blessing and a challenge. A well-aligned partnership can propel a business forward, but when visions diverge or responsibilities blur, it can feel like you're being held back. Here’s how to navigate these complexities and make informed decisions for the future of your business.

Consider the Alignment of Vision
Reflect on the current vision and direction of your business. Are you and your partner still on the same page? If not, revisit the initial agreements and understandings. What was the agreed-upon vision? Is it documented? If the original vision is no longer relevant, now is an excellent time to recalibrate and redefine your shared goals.
Owners vs. Operators: Two Different Roles
Understanding the distinction between business owners and business operators is crucial. Owners don’t necessarily have to work in the business day-to-day; they can contribute in other ways, such as strategic planning, networking, or providing capital. If you feel stifled or frustrated, consider separating ownership from employment. Owners benefit from the distribution of profits and can take a salary or wage if they work daily in the business. This separation can help clarify roles and reduce friction.
Adjusting Decision-Making Processes
Decision-making can often become a bottleneck, especially when owners, managers, or C-suite executives engage in groupthink. It's essential to separate responsibilities and decision-making authority. Not everyone needs to be comfortable with every decision. Each key player should protect their perspective and advocate for their beliefs. Ultimately, the person with final say in that area should make the decision. If you don’t trust your co-owners, managers, or executives to put the business first, it’s worth questioning whether you should continue in business with them.
When It's Time to Part Ways
Sometimes, despite best efforts, partnerships don’t work out. I’ve helped many clients navigate their way out of partnerships that weren’t a good fit, ultimately freeing the business to grow exponentially. If you reach the point where you realize you need to part ways, formulate a strategy that is best for all partners and the business. Schedule a meeting to discuss your decision. Once you’ve made up your mind, it’s not fair to continue on any other path, so don’t delay.
Final Thoughts
Being held back by a business partner is a challenging situation, but it’s not insurmountable. By reassessing your vision, understanding the roles of owners versus operators, adjusting your decision-making processes, and knowing when to part ways, you can navigate these challenges effectively. Your ultimate goal is to ensure the health and growth of your business, even if it means making difficult decisions along the way.
Is this you? Do you need help finding a way forward? Let's chat.
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