8 important aspects of running a business with your spouse !
Marriage is a partnership and business can be too. And when such business partnerships are carried out with your coveted life partner, it’s a different ball game altogether.
In fact, if judiciously aligned, a spousal support can be a crucial aspect to help you climb the ladders of entrepreneurial success and well being.
Not only will such homely support give you satisfaction in dealing with your venture but also provide for a transparent and a trustworthy partner you can completely rely on.
However, it is not always that such partnership ventures make big in the world of business. Often, such personal partnership ventures are bogged down due to internal issues of a married couple on one ground or other.
- 1 8 important aspects of running a business with your Spouse
- 1.1 1) Be 100% Sure of Running a New Business Together
- 1.2 2) Second Most Important Aspect is Childcare
- 1.3 3) Demarcate your Responsibilities
- 1.4 4) Spouses need to be as Professional as Employees at Work
- 1.5 5) Be Professional while Dealing with Clients
- 1.6 6) Don’t let Personal Quarrels affect your Business
- 1.7 7) Respect Each Others Decision
- 1.8 8) Chug forward only if you’ve Strong Marriage Relationship
8 important aspects of running a business with your Spouse
1) Be 100% Sure of Running a New Business Together
Sit together for a while and discuss in detail the pros and cons of running a new venture together as a married couple. The idea to start a venture together sounds good but is fraught with a number of unforeseen obstacles.
When both a husband and a wife plan to start a venture, it means that the responsibilities of both the work place and home are to be distributed amongst each other. The female partner no longer remains a house wife and is an active business partner with the male partner. The couple needs to appropriately manage the business work and personal life among themselves.
Only if the couple is 100% sure that they can responsibly carry over duties of work and life together, they should think about next step to carry forward with this new enterprise.
2) Second Most Important Aspect is Childcare
Even though we’re still not into the entrepreneurial intricacies yet, the couple needs to actively explore the way to take care of their child without affecting his growth and with due care and affection.
A time would come in their life when one of the spouses needs to spend more active time with their child in order to caress a fundamentally strong upbringing for the child as he grows. During such situations, either of the parents has to make a switch between the work and personal life more frequently.
3) Demarcate your Responsibilities
Once you have decided to chug forwards with your spouse’s support, clearly demarcate the boundaries and responsibilities for each of your work related activities.
Don’t let your activities overlap each others work which may balloon into a problems and controversies at a later period. Your spouse is your most trustworthy partner and that you can delegate some important work completely under his/her guidance and supervision.
This clear demarcation of boundaries will also release you of certain responsibilities and stress related to overwork. At the same time, you can also hold the person accountable, if you have passed on complete responsibility regarding a certain business activity. Hence, fix clear tags as to who will handle which portfolios and positions.
4) Spouses need to be as Professional as Employees at Work
Do not bring marriage relationship into your business activities. Do not let employees get a whiff that you’re giving any sort of special treatment to your spouse based on your personal relationship.
Have separate cabins for yourself and your spouse and interact with each other only when needed from business perspective and planning. Occasionally, spouses can come together during the breaks and lunch intervals. But, try to keep off from personal meetings during working hours unless there is some urgent requirement.
5) Be Professional while Dealing with Clients
Being professional while dealing with clients is utmost important. Your client should not know from your behavior that you both are married couple. That might sink in a feeling of uncomfortable-ness among the client regarding the personal relation creeping into business dealing with them.
It is not a problem if your client is aware about your marriage relationship. But, the physical behavior and way of dealing with your spouse in front of the client should be more of professional in nature rather than personal one.
6) Don’t let Personal Quarrels affect your Business
It is but obvious that any married couple will have fight amongst themselves for some reason or other. But, it is crucial to ensure that such fights do not permeate into your business relationship.
You may not be on talking terms with your spouse at home. But, it is important to interact with each other on the business platform time and again to chalk out business strategies and plans.
At the same time, it is equally important to not let your other business stake holders make out about your quarrels from your individual behaviours and resentment towards your other partner.
7) Respect Each Others Decision
When two spouses work together for a venture in partnership, it is a given that both of you are interdependent on each others qualifications and talent to manage a particular venture.
Under such circumstances, one needs to place trust and respect over others decisions in business dealings and activities. Before that, clear demarcation should be placed on areas of specific dealings for respective partners depending upon their ability and expertise.
8) Chug forward only if you’ve Strong Marriage Relationship
If you’re one of those newly married couples, think twice before setting on with a new venture. If your marriage relationship does not bloom out into a successful marriage, it is almost confirmed that the personal complaints would ultimately creep-in to your business relationship.
Unhappy married couples may find it hard to digest a relationship at work place. The quarrels would finally affect the business and money related matters including your relationship with employees and clients. Sounding professional is different from acting professional at work place.
Lastly, don’t act as much professional that it sucks out the pleasure of working together. Be informal during break times and an occasional text messaging to your mate situated in your adjacent cabin can work wonders to pep-up the work environment for both of you.