Five Tips to Running a Successful Business with Your Spouse
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1. Divide and Conquer. The key to a good working relationship is to find out what each person is good at and then divide the responsibilities accordingly. This avoids problems that can occur when two people try to do the same things.
2. Who’s the Boss? It is important to specify one person as the boss or the person principally dedicated to running the business. This is especially helpful when children are involved because it provides one person greater flexibility to walk away from the business when necessary without interrupting operations.
3. Keep Work/Life Separate. When you run your own company, especially at home, it can often be difficult to separate yourselves from the constant demands of the business and the 24-7 expectation of many clients. Try to find one or two hours a day to put the phones away and spend time with each other focusing on something other than work.
4. Establish a Routine. Although you may be working from home, getting ready as if you are going to an outside office is essential for success. Having an established routine helps set expectations for employees, customers, family members and, most importantly, each other.
5. Have a Plan. Although it’s your own business you should take the mindset of running it like a large corporation, at least with respect to planning. We recommend writing a business plan, setting financial goals together and, at the end of each year, evaluating what went wrong and what went right, then making changes as necessary.
“Choose a job you love, and you will never have to work a day in your life.”
Confucius says, “Choose a job you love, and you will never have to work a day in your life.” Taken a step further, choosing a business that lets you work with the one you love can lead to an even better life. By following the above advice and working together it is possible to control your own destiny while finding the balance you both have always wanted.
