| Along the path of your joint venture, you are likely | | | | because his business goal included expanding into |
| to experience a difference of opinion and possibly | | | | other service arenas, but the amount of time spent |
| conflict in the methods of your JV business plan or | | | | on the JV has prevented him from working on that |
| strategy. Conflict can lead to dissolution of the | | | | goal. |
| partnership if not handled properly. However, if you | | | | 3. Create and Evaluate Alternative Solutions |
| and your JV partner take an approach to conflict | | | | You and your JV partner are creative people. As |
| resolution using these tactics, you may well continue | | | | entrepreneurs, you have the ability to generate |
| on your way to great success. | | | | multiple ideas and solutions. Arrange a meeting with |
| 1. Identify the Problem | | | | your partner where you can sit down and brainstorm |
| The first step in resolving conflict is finding out | | | | solutions to the problem. |
| exactly what the problem is. The problem could only | | | | Your solutions should focus on mutual gain. Bending |
| be on one side of the JV partnership. For instance, | | | | over backwards for the benefit of others may be a |
| you could be enjoying a wonderful and successful | | | | short-term solution, but raises inner conflict for you |
| outcome of a joint venture, while your partner, while | | | | and sets a precedent that you are a pushover. Come |
| sharing the success, is unhappy for some reason. | | | | up with creative ideas that can benefit you both. And |
| Your job is to find out what the core of the problem | | | | keep in mind that may ultimately mean dissolving the |
| is. And if it is you that is unhappy, it is your job to | | | | JV partnership as a solution. |
| express your feelings to your JV partner in order to | | | | 4. Make a Decision |
| work on a solution. | | | | When you have a set of potential solutions before |
| One key factor in problem identification is keeping | | | | you, narrow your possibilities and choose the best |
| the problem separated from the person. Don't | | | | one that works for both you and your joint venture |
| assume that your JV partner is the problem. Realize | | | | partner. If you are both comfortable with the |
| that there may be other motives for your partner, | | | | solution, then set it in motion. |
| or perhaps external forces that cause a conflict with | | | | Following up and evaluating your decision is also |
| your partnership. | | | | important. Set up a follow up meeting with your JV |
| 2. Discover What You and Your JV Partner Want | | | | partner to go over how well your solution is working. |
| In order to solve a problem, you need to know what | | | | Additional creative steps or even a new solution may |
| it is that both you and your JV partner want. In | | | | be required. By following up, you ensure that both |
| talking with your partner from the example above, | | | | you and your joint venture partner are enjoying a |
| you discover that although he has increased revenue | | | | successful venture. |
| through your combined efforts, he is unhappy | | | | |