Starting a Business with your Spouse

Have you ever thought of starting a business with your significant other? To wake up every morning and together you hustle and grind? To both share the dream, and so are the responsibilities.

me and my business partner, Charmaine

I do. Ever since we got married I have always thought we’ll build a business together. I’m glad it happens. As of today, I been in business with my wife for already two and a half years now.

To some couple, it can be the best decision they have ever made. Because not only they get to spend more time with each other they also get that chance to improve their selves with someone who they trust.

But for others, it can become a constant source of stress and arguments. Not all couples would want that kind of setup. Going into business with your spouse can be very tricky. It can make or break your relationship.

On this post, I’d like to share with you these few tips that I have learned doing business with my wife. Hope you can learn a thing or two that may help you with your journey building a business with your spouse.

SET CLEAR GOALS

Before anything else, this is the first thing you have to work on together. Both of you have to agree on your goals. Remember that goals don’t have to be mutual. It only needs to be agreed by both of you.

It must be crystal clear to each other why are you doing this for. This will be your foundation. Whether you both dream of owning a house or aiming for financial freedom for the family or basically just pursuing your passions. The key here is it has to be clear and It has to be specific.

This will help you down the road especially when making decisions. Whenever you are both in trouble or in a not so pleasant situation, you can always go back to your reasons and remember why you are doing these for.

IDENTIFY EACH OTHER’s WEAKNESSES AND STRENGHT

Who’s more into Customer Service? Which one of you is more creative and meticulous to take on the Production? Who’s does better reading analytics to work on your Marketing? Knowing each other’s strengths and weaknesses will help you decide on the distribution of responsibilities.

Starting a business on low capital means that most of the groundwork will be done by both of you in the beginning. Knowing which areas you both can work on will save you money. You will also know upfront which areas will you be needing outside help.

WATCH EACH OTHER’S BACK

Wearing a lot of hats and working on different areas of the business is natural for business owners. With your attention being pulled from different directions all the time you are both prone to making mistakes. Making mistakes is fine, this is where we learn from the most. But having someone to watches your back gives an extra layer of the check to prevent each other from making a costly mistake.

WILLINGNESS TO TAKE OVER IF NECESSARY

There will be hard times, e.g. one of you can be sick or one you may have some other important matters needed to attend to. Despite that you have agreed to specific responsibilities, the ability to take on each others role if necessary is crucial for business success.

CELEBRATE SMALL WINS

Appreciate progress. Happiness is in the progress. Celebrate each other’s accomplishments. Celebrations don’t have to be always expensive. Make it part of your routine to check on where you both did well. A simple dinner outside, a walk in the park, or a movie, to reflect on your journey will keep your fire burning.

Remember happiness comes from progress.

COMPLIMENT EACH OTHER

Make it a part of your day recognize each other’s contributions. If your spouse exerts a tremendous effort to achieve your goals, do not let it go unnoticed. Make sure to recognize it even if it just a short sincere acknowledgment will do.

When your day has been stressful, instead of focusing on the problem, redirect your attention to what went well. A pat on the back and telling your spouse how much you appreciate their effort can go along way. As simple as: “I’m so impressed, that was an awesome product you have there.” Just be sure to be sincere.

Some couples break up while some do succeed. It takes more than chemistry with each other to succeed in business. The stresses with starting a business whether you do it with your spouse or not are inevitable. So you have to be both expecting right before you begin. Starting a business with your spouse can be difficult and challenging. There are risks. And that is why you need to have a sound plan and strategy that both of you will follow.

So take the time to develop your strategies and learn how to make working with your spouse work to your advantage. You will never know it may just be the greatest thing to ever happen to you and your spouse.

To your success!

Mak

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Wantrepreneur. Writes PHP and sells cakes online. A local internet tour guide too.