- Set clear expectations and boundaries with business partners from the outset to prevent future conflicts.
- Adopt written communication for formality, clarity and as a means of documenting agreements.
- You need to implement empathetic listening techniques to understand your partner’s viewpoint and build rapport.
- Understand your legal rights and remedies, and be prepared to end a partnership if it’s detrimental.
One of the biggest challenges business people face is dealing with difficult business partners. Whether it’s a problematic creditor, investor, or supplier, working with someone uncooperative, unpredictable, or downright hostile can make business transactions challenging and frustrating.
The key is learning how to manage relationships with challenging business partners without compromising your integrity. This blog will share essential tips to help you successfully manage difficult business partners and succeed in your business.
Set Clear Expectations and Boundaries
One of the most effective ways to deal with difficult business partners is to set clear expectations and boundaries from the outset of your relationship. This means making your priorities and expectations known and ensuring that your partner is also aware of them. Being upfront and transparent about your own goals and constraints will allow you to nip problems in the bud before they escalate.
Communicate in Writing
When communicating with difficult business partners, it’s usually best to communicate in writing. Not only is written communication more formal and professional, but it also allows you to document agreements and commitments.
This protects you in case a partner tries to backtrack on earlier agreements or commitments. When communicating through writing, you need to ensure the proper delivery of your message. Here are the four things you need to do:
Keep it professional and polite.
It is essential to keep it professional and polite, especially when dealing with a difficult partner. Avoid sarcasm and inflammatory language at all costs. Stick to the facts and try to remain as objective as possible.
Be respectful and diplomatic in your language.
Being respectful and diplomatic is essential, even if you disagree on specific points or issues. Being polite will help keep the conversation from escalating into an argument.
Be clear and concise.
You must ensure your message is direct and concise when communicating in writing. This will help avoid any unnecessary confusion or misinterpretation of your intentions.
Always reference prior agreements or commitments.
Always reference previous agreements or commitments whenever possible when communicating with a difficult business partner. Doing so will help to remind your partner of their obligations and responsibilities. It may potentially bring the conversation back on track.
Additionally, you should always keep copies of all your written communication and never hesitate to clarify agreements in writing.
Listen Actively and Empathize with Your Partner’s Views
Sometimes, a difficult business partner may simply be trying to express their challenges and frustrations. They may have personal or professional issues impacting their behavior towards you.
In such situations, listening actively and empathizing with their views can be a powerful tool for building rapport and understanding. Acknowledge their viewpoint and show understanding, even if you may not agree with them.
Know Legal Actions You Can Take
One of the essential tips for dealing with difficult business partners is understanding your legal rights and remedies. Ensure you know your options if a partner breaches a contract or agreement or fails to fulfill their obligations.
Hiring an experienced commercial litigation lawyer, for example, can help you understand your legal rights and devise strategies to protect yourself in case of a dispute. They can also advise you on the best course of action and provide legal representation if needed. Knowing your legal rights can give you peace of mind in such situations, making it easier to handle challenging partners.
Be Willing to Walk Away
Finally, sometimes the only way to deal with difficult business partners is to simply walk away. If a partner is unwilling to cooperate, meet their commitments, or treat you with respect, then it may be time to reconsider the relationship. In such cases, it’s essential to remain professional and communicate your decision politely and respectfully.
Dealing with challenging business partners is a common hurdle in the professional world. However, with the correct set of tools—clear communication, active listening, understanding of legal rights, and the willingness to walk away when necessary—you can navigate these problematic relationships successfully and maintain your integrity.
Remember, a business partnership should be beneficial and respectful for everyone involved. If it’s causing undue stress or negatively impacting your business, it may be time to reassess and chart a new path forward.