Running a business with your spouse... or your mom is like embarking on a wild, thrilling rollercoaster ride—full of ups, downs, and the occasional loop-de-loop that leaves you questioning your life choices. But hey, what's life without a bit of excitement? Let’s dive into what the do's and don'ts are.
Do's
Create the Dream Team
The best part of working with your spouse is that you’re both moving in the same direction. You share the same dreams and goals, and that can be incredibly motivating. Plus, you can high-five each other when you finally nail that big contract.
Trust and Communicate Like Mind Readers
You know each other inside and out, making communication a breeze and strengthening communication and trust. Sometimes, all it takes is a look to know what the other is thinking. Just try not to freak out your employees with your uncanny mind-reading skills.
Take Advantage of Flexibility and Have Fun
You know each other's strengths and weaknesses, so you can adapt roles to suit your talents. This makes for a more flexible work environment. And let's face it, who else would let you take a conference call in your pajamas?
Celebrate Together
Building something together can be incredibly fulfilling. The shared experience of creating and growing a business can bring you closer together and provide a sense of accomplishment that you both cherish. Plus, you always have someone to share a celebratory glass of champagne with—even if it's just in your living room.
Enjoy Cost Savings
Running a business together can save you a ton of money. You don’t have to pay someone else’s salary, and who needs a fancy office when your kitchen table does the trick? Just don’t forget to move the cereal boxes out of your next TikTok video.
Don'ts
Blur Personal and Professional Lines
When you’re married to your business partner, work talk can sneak into every corner of your life. Dinner table discussions, date nights, even pillow talk can turn into impromptu board meetings. It's like having a permanent "Take Your Work Home" day. Pro tip: try not to argue about inventory levels over spaghetti.
Let Decision-Making Drama Take Over
When both partners have strong opinions about the direction of the business, conflicts are inevitable. Disagreements over major decisions can lead to tension and affect both the business and the relationship. Who knew deciding on a new product could feel like negotiating a peace treaty? Finding a balance and learning to compromise is crucial.
Stress Over Finances Alone
Running a business inherently involves financial risks. When both partners are invested in the same business, the financial strain can impact the entire household. This can add pressure to the relationship, especially during tough economic times.
Overlap Roles Without Clarity
It’s easy to step on each other’s toes when you’re both wearing all the hats. Setting boundaries can prevent either of you from accidentally becoming one terrifying super-boss. Plus, overlapping duties can lead to misunderstandings and inefficiencies. It's important to play to each other's strengths and delineate tasks to avoid stepping on each other's toes.
The do's and don'ts of running a business with your spouse
or a family member can be a wild ride, but by working together towards a common goal, you can create a thriving business and a stronger relationship. Embrace the do's, navigate the don'ts, and always keep a sense of humor handy. After all, laughter is the best medicine for everything—even business blunders.
Need help coming to an agreement? Sometimes a fresh perspective is all you need to gain clarity on the GOAL. We can help you work through the kinks.
Comments