Roles and Responsibilities: A Key Factor for Any Successful Business Partnership

When starting a business, it can be tempting to jump into a business partnership without fully understanding the roles and responsibilities required of each partner. Failure to do so however, can lead to dangerous consequences for the business and the relationship.

Following are the dangers associated with not understanding and clearly defining the roles and responsibilities of each partner before entering a business partnership.

  1. Confusion and Miscommunication. One of the biggest dangers of not properly understanding the roles and responsibilities of each partner is related to the amount of confusion and miscommunication that may arise. If both partners are not aware of what the other is responsible for, it can lead to duplication of efforts, wasted time and bruised egos. This can lead to frustration and tension within the relationship, which can ultimately lead to the demise of the partnership and failure of the business. Additionally, if one partner is not cognizant of the responsibilities of the other, they may not be able to – or want to- provide the necessary support and resources needed for success – leading to friction, a lack of progress and a lack of success.
  2. Lack of Accountability. Another hazard of not properly understanding the roles and responsibilities of each partner is a lack of accountability. If both partners are not aware of what the other is responsible for, it can be difficult to determine who is accountable for any mistakes or failures that may occur. This can lead to finger-pointing and blame shifting, causing further tension within the partnership – potentially leading to the demise of the business or end of the relationship.
  3. Unbalanced distribution of work and resources. Not understanding the roles and responsibilities of each partner may lead to an unbalanced distribution of workload and resources, leaving one partner feeling “dumped on” and overworked. This can create burnout in one partner and perhaps more importantly – create feelings of resentment between the partners.

Failure to properly understand the roles and responsibilities of each partner before entering a business partnership can lead to dangerous consequences for the business, including confusion, miscommunication, a lack of accountability, and an unbalanced distribution of workload and resources. To avoid these consequences make sure you have an open and honest conversation about the roles and responsibilities each partner will assume in the partnership, and have frequent check-ins about them as the business grows and expands (or contracts).

Dr. Patty Ann

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