My Business Partner Is Not Contributing Time or Money, Can Mediation Help?
An ideal business partnership involves all parties contributing their time and effort towards making the company a success. When you find that a partner isn’t pulling their weight, it’s critical to address the problem before things escalate and the business starts to suffer.
In most instances, having a frank discussion can help resolve the problem. However, if this doesn’t work, you may need expert business mediation services to help set things straight. Here’s what an experienced mediator can do for your business.
#1. Brings an outside perspective to the table
Having a neutral third party that has no stake on either side can help reduce the tension and stress. A good mediator will listen and try their best to understand the situation without passing judgement.
A business mediator can also help you put the situation in perspective. Or instance, if both parties start the conversation by saying that they want to address something before it gets serious, a mediator may find that it is already serious.
#2. Open up free communication
Instead of acting like a referee, a mediator helps guide the conversation towards things that cause tension without lettings things get too emotional. During the early phases of the mediation, a mediator may talk to all partners separately, so each has a chance to speak freely. They will then bring up those tension points during discussions and then offer possible solutions too.
For instance, if a partner feels like they’re putting in more money in the business, then they can be reimbursed for certain expenses so that money becomes a smaller point of contention.
#3. Helps establish agreements between partners
When all parties are satisfied after the discussion, the next step is to put together formal agreements in the form of written contracts. Establishing policies with the help of a mediator can prevent a problem from coming back. The policy should ideally discuss all concerns that have been an issue so far, such as absenteeism, money, and investment.
A good mediator will likely also recommend follow-up after a few weeks to ensure that the solutions are working and both parties are satisfied.
Need business mediation services to address a partnership issue? Reach out to our experienced mediators in London today. We’ve worked closely with many clients to address and resolve all sorts of business issues with our business mediation and workplace mediation services.
Contact us today for a free first consultation.
