Being in a Business Partnership is a Lot Like Being in a Marriage. The Stanford Business School now offers a Group Therapy Course and the required reading includes: The Seven Principles for Making Marriage Work. Why? According to Noam Wasserman, a professor at Harvard Business School, 65% of businesses fail due to conflict and relationship breakdown between partners.
Marriages are complicated, business partnerships even more so. The added pressures of courting investors, managing employees, speaking to the public, and meeting the bottom-line add further strain to these multilayered relationships.
The Reality: Ineffective partnership relationships can dramatically reduce profits and potentially sink your business.