Till Death or Bankruptcy Do Us Part

Should married couples be in business together?

So you recently got married, or youa??ve been married for a while. One day you turn about and look at each other and decide that building a business together would make your lives better. If you havena??t taken that fateful step yet, WAIT!!!!

My wife and I have been in business for 8 years. We were in business together before we started dating seriously. If you are happily married, you may be under the misguided belief that you can work together successfully. Wea??d like for you to take a moment and assess your situation before moving forward. Ask yourselves a few questions.

1. Do I like this person enough to be around them 24 hours a day?

Dona??t get us wrong. We know that you love each other, but do you like each other. Many of us love our immediate family, but we dona??t like to spend more than Thanksgiving dinner with them. Remember that you will be spending almost every waking moment with your spouse. Having the ability to laugh together will help you get through the great and the not so great moments.

2. Do you have the same financial views?

This one can make or break your business and marriage. Who in the relationship will manage the finances? How will financial decisions be made for the business? Sit down, and speak about these issues. In the beginning, ita??s one for all, and all for one. When revenue starts to come in, someone needs to be fiscally responsible. Your personal views on money will play an important role in your business. Be honest about how you both see that wonderful piece of paper that we call money.

3. How much of a time commitment can you both make to your new business?
It took us a few years to get used to each others work schedules. Shani is up with the sun (5, or 6am) and ready to get the day going. She will work all day, but after 10pm, she becomes a pumpkin. I work best between the hours of 10am, and 4am. Her best ideas show up in the morning. My best ideas also show up in the morning. It just happens to be 1, 2, 3, or 4 in the morning. For years we tried to work on the same schedule. It never worked. We finally accepted the fact wea??ll never have a 9-5 schedule. There are only a few hours in the day when we know that we can both get a ton of work done. No more statements like, a??You dona??t get up early enough.a??, or a??Why is it when Ia??m just getting on a roll, you want to go to sleep?a??. We work well independently, but we make sure to keep each other informed of new ideas, and new developments in our business.

If you are just starting out, your venture may be a part time venture. Maximize the hours that you put into your business. It does not matter whether ita??s one hour, or 9 hours a day.