Planning is Peace of Mind

Working With Your Spouse or Partner? Here’s Some Advice

About a third of all family businesses are run by husband-and-wife teams. Sometimes these entrepreneurial teams have a great relationship and their business thrives. Other times, working with your spouse or partner can lead to the end of the relationship. Here are some things to consider if you are or plan to be in this situation.

• Each partner should take on the role he or she fills best. For example, a great salesperson is not the best choice as business manager or tech administrator. Instead use the skills you each have and then hire out to fill weaknesses.

• In a true partnership, one spouse should not work for the other as an employee. Instead, structure your alignment to be truly on the same team, in partnership.

• Avoid letting arguments get personal. And avoid letting personal arguments affect the business. This may be where you need a 3rd party, trusted advisor to step in. We can help.

• Don’t hold a grudge. Settle everything by the end of the day and go to sleep resolved whenever possible. Share gratitude’s before bed, even when you don’t want to.

• Put personal time on the calendar. Do that now.

• Don’t make unilateral decisions. Agree to consult each other on all big items.

The most important thing is that you are on the same page about the vision of the business. Where are you going? How will you get there? And who is going to hold space for the tensions that will definitely come up along the way?

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