5 Tips for Running a Business With Your Spouse
Having your own business is already a challenge, but sharing it with a spouse could be a disaster. However, it doesn’t have to be.
If both of you play your cards right, a shared business can be a wonderful shared venture that allows you and your spouse to appreciate each other more.
1. Have Well Defined Roles and Responsibilities
Agree on specific roles and responsibilities for each of you. Division of labour will create order and structure for your business. Also, it will ensure that you will not step on each other’s toes. Assign the designated tasks by playing up to your strengths.
If you are great with people, take over the HR-related responsibilities. If your spouse is great with documents and the legal framework, let them handle that. You should stay open to feedback and suggestions from your spouse. However, it should be clear which one of you makes a final decision.
2. Separate Work From Personal Life
If you are in a business with your spouse, the lines between work and personal life can become blurry. All the more so if you are working from home. To ensure a healthy work-life balance, set clear business hours and respect them.
As many couples working together have experienced, it is easy to let the business take over your whole life. This is detrimental to both your individual well-being and your couple’s life. Set weekly or monthly meetings where you discuss the most important issues related to your business. In the dedicated time-span, you can also brainstorm solutions for existing problems and give each other feedback.
To ensure a healthy work-life balance, set clear business hours and respect them.
However, if you think about it, usually when a couple works separately, they discuss how their day went at work with their spouse once they are home. Just because you work together, it does not mean that you should rob yourself of this opportunity.
You can pretend that you have different jobs and discuss your feelings related to job-related events. Focus on emotions rather than on actions. Also, make sure that you choose your time carefully not to ruin quality time with your family. This is a tip that is equally important for couples who do not work together: enjoy quality family time. When having dinner or playing with the children, commit fully to those activities.
3. Set Clear Boundaries
Working together should not rob you of your individuality. You might have different perspectives on some issues, a different work-style, and needs. Try setting up different work-spaces, which you can arrange to your liking. This will also give you some intimacy and not feel like your spouse is constantly looking over your shoulder.
Spending some work-time separately can be beneficial for both your business and marital relationship. This can also help you be more efficient. Being seated next to the love of your life can prove to be a huge distraction.
4. Focus on Communication
Communication is essential in all areas of life. It lies at the foundation of a happy marriage and a successful business relationship. Therefore, make sure that you talk over everything before making a final decision. Do not hesitate to bring up any concerns you may have. This will show that you trust your partner. However, refrain from using an accusatory tone. When discussing an issue, never blame the person; instead address the action that led to a problem.
5. Offer Each Other Constant Support
You and your partner are in this together. It is important to know that you can rely on each other. Therefore, always be there for one another, be ready to offer help and emotional support.
Another way you can show support is by refraining from micro-managing. This will only show that you do not trust your partner to do their tasks.
If for any reason your joint business venture did not work out, it might be time to contact legal experts. Qualified family law attorneys can help protect your shared business even if you decide to break a partnership in marriage.
Running a business together with your wife can be a great opportunity to learn more about each other. Also, you have the chance to see a side of your spouse that you would not be able to observe in your personal life. However, having a successful business relationship with your spouse requires a lot of work on both sides.