better or worse. For richer or poorer. At the office or at home?
Those may not be the vows you remember taking, but perhaps the
thought of starting a family business has come up in your
dinnertime conversation. More and more couples are starting
companies and working together in an effort to gain financial
freedom, and spend more time with their families. The question
is, can you and your spouse survive working together?
As with any major decision, creating a list of pros and cons is
usually the best way to start. There are certainly benefits to
being co-owners of a company. However, there are definite
On the Plus Side
For couples that have a solid relationship and know each other
well, working together can be a dream come true. They are able
to spend more time together, and share yet another important
part of life with each other.
As a couple working together, you are able to watch your mutual
business efforts blossom into a success through teamwork. This
can actually bring you closer.
On the Negative Side
For those that do not understand their spouse well, there can
definitely be "issues" involved with becoming
For example, will one spouse be the "boss" and the
other an "employee"? Who will have final say about
company finances? These topics and others can cause serious
rifts in a relationship.
You must also think about the time you will spend together. For
some, additional time with their spouse is fabulous. However,
many partners need their independence in order to be fulfilled
as an individual. Can you handle the added time together?
Another consideration is confrontations. If there is a dilemma
where you must confront your spouse, can you do so on a
"business level" without damaging your personal
relationship? Many couples aren't able to draw that line.
Most importantly, what will happen if the business goes under?
Do you have a financial plan to get you through while you both
are out of work?
Keys To Success
If you are considering working together, I strongly recommend
that you follow these recommendations:
Know your partner. Understand what makes them happy, what
makes them angry, and what motivates them. Take time to realize
their strengths and weaknesses.
Create an equal business relationship. Don't position yourselves
as "boss" and "employee." Be sure that the
working relationship is just as equal as your personal
Mind your manners. Take note of your behavior toward each other,
and your behavior toward those you currently work with. Do you
snap at each other more than you do your co-workers? Are you
more likely to lose patience with your spouse than an employee?
It is often difficult to be kind to the ones we love while under
Draw a line. Make the conscious decision to separate work time
from home time.
Make sure it's a good match. Make a list of each partner's
strengths and weaknesses. Are they different? They should be.
Perhaps one partner is great with finances while the other
partner is better with sales. If you both have the same strong
points or weak points, your working relationship will be out of
Many couples survive and thrive while working together. There is
a great chance that you and your spouse can do it, too. The key
lies in knowing each other well, and treating each other better!
|About the Author:
Blane and Angela Russell are co-owners of Russell and
Associates, a full-service mortgage broker specializing in debt
consolidation, second mortgages, refinances, and no income
verification loans. To get the credit you need NOW, visit http://www.refinanceu.com
today for same day approvals on most loans.