6 Tips For Going Into Business With Your Spouse
By: Courtney Connley
Working with your spouse can be tricky, as there is an extra layer of emotion and compassion that you have to consider when doing business with a loved one.
For many people, the idea of “keeping it all in the family” is appealing because you’re working with someone who will keep your best interest in mind. But going into business with your significant other can present a unique set of challenges that you might not always be prepared for.
So, before saying “I do” to a business relationship with your bae, consider these six pieces of advice for a happy and healthy personal and professional life.
Find the balance.
When working with a loved one, it’s easy to blur the lines of work and home life together. However, burning each other out with non-stop talk about work can unknowingly put your relationship on the back burner. Set clear goals and boundaries, and make sure to hold each other accountable. If the plan is to start family time or date night at a certain time each night, then put the phone and computer away and commit yourself to doing just that.
Know each other’s strengths.
It’s true that opposites do attract, so with that in mind think about the strengths both you and your spouse bring to the table and how they compliment each other. If you’re more outgoing and your spouse is more of a laid back person, then maybe you should be doing more of the external communication for the company while your spouse focuses on the behind-the-scenes work.
Know each other’s financial habits.
With money being the leading cause of stress in a relationship, it’s imperative to have a deep understanding of the financial behavior of your spouse before going into business together. If your spouse is better at managing money than you are, then he/she should handle the financial aspects of the company. If money management is a department that both of you need help in, then seek out a financial advisor before taking any risks that will have a major impact on your success.
Respect each other.
This may sound like a no-brainer, but respect can sometimes be a forgotten concept when disagreements in business arise. No matter how crazy of an idea your spouse has, hear them out and see if you all can find a common ground that makes both of you happy. The last thing you want to do is bring the after emotions of a heated argument home.
Trust each other.
Trust is a concept that goes without saying for any relationship, but sometimes a reminder of its importance is needed. When deciding on who will do what tasks for your business, remember to always trust your partner and their ability to successfully get the job done. Don’t micromanage them and try to turn the task into your own. Even though you all are in business together, you are still two individuals and trusting each other’s strengths is needed to successfully move the business forward.
Throw away your ego.
In order to be successful with anything, you have to take your ego out of the situation. Understand that there are times you will be wrong and you will need help. Don’t be afraid to ask questions and say “I messed up.” Recognizing your mistakes will make you a stronger individual, business person and partner for your spouse in the long run.
Are there any pieces of advice that have helped to strengthen the business relationship you and your spouse have? If so, share them with us in the comment section below.
Writer: Courtney Connley is a writer, editor and digital journalist with a sweet spot for storytelling and helping millennials win in the workplace and in life. She considers brunching to be a full-time hobby and enjoys anything that involves avocado or a good book. You can stay up-to-date with her latest work at courtneyconnley.com and follow her latest happenings on social media @classicalycourt.