10 rules to follow when considering starting a business with your significant other
Starting a business with your spouse sounds like a good idea, but it has its own challenges. Like any other new business, startups are a lot of work and if you both are not careful you could end up having a lot of headaches. For instance if you are in event planning (like speed dating Houston), you will need to have boundaries and mutual respect even with your clients. Unless you both come up with a plan on how to solve and agree it’s likely to get worse. Here are some guidelines that will help you navigate the processes successfully.
- Separate your personal life with the business. Learn to leave work stuff in the office or shop. When you get home you get to be a couple. Yes, it can be overwhelming having your spouse around 24/7. You can pursue different hobbies. Everyone needs a break to grow individually, but also nurture your relationship.
- Respect each other’s opinions. Treat each other with respect always. Be professional and avoid bringing home issues to the office. Listen to what they have to say and be fair.
- Make important decisions together. It’s important to be a team player. Once you agree on major things, you can avoid unnecessary arguments.
- Know your strengths and weaknesses. Understand each other personalities type. It will be much easier when you know what you can do best and what you are terrible at. It will help you allocate responsibilities accordingly.
- Practice equality. Divide responsibilities evenly. You are both the backbone of the business and when one of you feels inadequate in the business; there will be trouble in paradise. Talk it out and agree on who does what.
- Have a separate emergency fund account. If you wish to keep the business afloat for long, it’s wise to have an emergency fund account. There are unforeseen issues that crop up especially during startups. This account will save you a lot of hustle and stress.
- Be open to positive and negative criticism. Nobody is perfect! Sometimes one of you can do something wrong or right, but if you don’t know how to deal with criticism it’s going to rough. You will need to grow a thick skin for the bad times.
- Celebrate each milestone together. In each level, you’ll need to celebrate the small wins to keep you motivated. Encourage each other and acknowledge the little achievements. You’ll appreciate it in the long run.
- Be clear on your goals and visions. Before starting a business, you’ll need to be clear on why you’re doing it. Make clear targets, with workable milestones. With the bigger picture on the back of the mind, you can easily turn your small business into a multi-million dollar empire. Small steps!
- Don’t be too serious. Incorporate some humor in the workspace. It can help both of you to loosen up tension and stress in the office space. Learn to laugh at yourself when you mess up.After all, life is too short to be gloomy all day. Lighten up and it will show in your work.
In conclusion, it can be incredibly fulfilling making it through challenges together. Once you find the balance, everything will run smoothly. Good luck in your new endeavors, you’re both going to need it.