How Couples Run a Home Business
Combining marriage and business is not an endeavor to be taken lightly. It requires serious consideration and answers to some tough questions. Here are 10 tips for running a successful home-based business with your spouse:
– Determine if you can work side by side. Ask yourself honestly if you can work patiently alongside your spouse day in and day out, and then go from business partner to life partner after work. If you can’t picture yourself making this transition, then you probably should not run a business together.
– Discuss your goals. Are your visions for the business the same as those of your spouse? Even the strongest marriage will be tested if you are working at cross-purposes.
– Write a business plan and solicit feedback. Once you detail your vision, show it to a consultant for an objective opinion. There is tremendous value in feedback from an unbiased source.
– Define each person’s role. The roles can be flexible (and will likely have to change over time) but must at least address the basics: who will keep the books, who will do the shipping, etc.
– Keep the lines of communication open. Don’t be critical of one another — and don’t be dismissive or contemptuous of your partner. Confront the challenges of the business, not one another……Full Article
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