Sharing Daily Discoveries About Personal Finance And Business Topics

Being Transparent of Your Business Weakness With Partners or Not

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Recently I decided to end a business relationship with company as it simply wasn’t working out. Basically nothing personal per se as it just came down to the lack of results where it didn’t make sense anymore. There were actually many times I approached it in an open minded way where I recognized that the business was small compared to others but they seemed the most honest at the time. However, as time went on it always felt like they were trying to pretend they knew more than they did while always placing the blame on other reasons for not producing results. That of course contradicted the original attraction to the partnership which was the honesty. So, for other reasons too I decided it would be best to go our separate ways.

Kind of makes you wonder in this case if you are a small or start-up company working with some kind of partnership agreement would you actually admit about your deficiencies in any way or will you always just try to portray yourself as perfect per se and that it’s always something else on why a competitor was able to get ahead over you? I feel when it comes to partnerships that you need to be transparent for the most part.

Especially if you are like two companies trying to work together to grow your own respective products or services I would imagine both would be super understanding of the trials and tribulations that the company could be going through. But if you essentially hide the facts on what is really going on and all then that is just convincing the other to leave like how I felt once one finds out the real details.

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