How can you move forward after ending a partnership?

Maybe it’s just me - but it’s a partnership, nobody got hurt. Making mistakes or having to deal with ugly consequences is part of life. And usually a partnership doesn’t go sour over night. Chill, do the right thing, analyze and understand and learn. And move on knowing you’ve just had to grow a bit

Things change. That is what happens. A business evolves. People need to change as the shape and size of the business alters, and there will always be a point where it no longer fits an individual or a team. It is not always personal.

It would be surprising if there is any emotional tie to an organization, maybe if its an individual to individual. If it has gotten to this point it was developing and unfolding for a substantial amount of time. Not sure if this point should really be addressed more than it is already accepted. Moving on with confidence where energy should be placed.

Some partnerships end as a natural development. Someone retires or moves on. In that case, it affords a terrific opportunity to rethink and redesign the business in your image if you are the sole remaining partner. That's how dreams are realized. If the partnership ends because of disagreement, then it's important to follow protocol, legally, financially and relationally. A partnership is similar to a marriage . . when it ends it's not always pretty. Then comes the decision to replace the partner or move forward alone. Don't jump, take the time to evaluate trhe value of a partner and your own capability. If the main contribution is capital, consider a loan, not a partnership.

With several partnerships, I have found that often the original ideas have grown and evolved and the initial concepts cause the partners to realize their differences and agree to seperate. Sometimes this growth causes partners to form mutually supportive new relationships with others. For example, the growth in specialties within the Utility industry, original partners that were able to manage the business they realize that splitting into specialties that mutually benefit the original partnership.

We kicked a partner out in 2011. It cost $750k, plus lots of anger & hard feelings. What had worked: he was good at the technical parts of his role. What didn't work: he was not experienced in our industry, was never entirely on board with our business model, and kept trying to Frankenstein it to be like the other types of industries he'd been in. I learned I have to be much slower to "get married." I need to deeply confirm that my partners want the exact same long-term result as I do and that we are in 100% alignment on the revenue model. Do they want to play this sport the exact same way as me? Lastly, do I love them? Is this someone I want to sacrifice for when things get really, really, really hard someday?

The mentality should be with this area in mind. One should feel new opportunities can emerge from this and they will look different, require a lifted in time investment in newer places, but the outcome more than likely will be positive. The key thing here is the end of a partnership was done in good faith and with integrity. Mistreatment has a karma effect.

All partnerships end for a reason, though be mindful that there are plenty of example of "boomerang partnerships" out there ie those partnerships that may fail initially but later go on to be a success. A great example of this is Pfizer and BioNTech. In the early 2000s, Pfizer and BioNTech partnered to develop cancer vaccines but later abandoned the project due to disappointing results. However, years later, they reunited to develop the revolutionary mRNA vaccine against COVID-19. Never fully close the door on a partnership opportunity, ensure lines of communication are open and always be looking for synergies.