Starting Business With Your Partner; A Walk Through
The biggest loss during the endeavour of business is family time, especially your spouse and kids.
Limited family time has always been a black mark on almost every entrepreneurial success journey.
How would it be to see each other all day from morning to night, eat together, plan, decide on important factors regarding the business and work together.
Does it seem too much?
Nightmare or dream?
With seven and more years of experience in the world of digital entrepreneurship, I came across multiple cases of couples working together in their businesses. This caught my attention because I am one of these ranks: I work full-time in my company with my partner.
Working and partnering with your partner in your own business is literal, the epitome of entrepreneurship: "starting a work, a business, an endeavor, especially if they involve difficulty and danger" ... How romantic, right?
If we add the gender factor to the entrepreneurial couple equation, the result can be a wonderful but highly damaging bomb if we do not understand it in depth as a complex and increasingly recurring phenomenon.
Digital ventures favor the work and association of couples because they allow a communion between professional goals and the possibility of spending quality time in different environments, not being subject to a physical office. But above all, they favor this phenomenon because the undertaking is an act of faith, passion and idealism. And who doesn't want to share all this with the person they love?
Undertake together or separately? That is the question.
Entrepreneurship with your partner is not for everyone.
1.Those who firmly believe that a reasonable distance must be maintained between family and partner life, with business
2.Those who firmly believe that there is no better business than one that is shared and extended to the family
Both positions are valid, however, when the conditions are favorable and a professional-loving-family union is achieved, the benefits can multiply in a very profitable way for both parties.
It requires precise technique and a lot of practice.
Consider these opinions if you intend to work with your partner:
Find Common Grounds. It is normal that you and your partner have different backgrounds, interests, experiences and resumes, even if they are dedicated to working in the same niche. In order to carry out a business between the two, it is necessary to be clear about the real objectives and goals of each one.
It is not enough to have common tastes or similar experiences. It is required that the vision and the way to achieve the goals is common and congruent for both parties.
Communicate With Patience:
One of the most recurrent conflicts and one of the most common causes why couples who work together fail, is the difference between work styles. You are organized and your partner works well under pressure.
Effective and patient communication is necessary to be able to exploit the particular potential of each one and not to die on the battlefield.
If you are better at communication and marketing and he or she is better in the administrative and intellectual field, take advantage of it instead of fighting for it. Yeah, it sounds easier than it is but possible with enough patience and understanding.
Organize & Plan. It is a myth that “dividing your professional life from your personal one” by 100%, establishing tangible and measurable limits is a strategy that can, in a certain way, guarantee a more harmonious and effective coexistence between you and your partner. Any waters can be crossed together.
Women are almost always the ones who carry the most workload since on average they do more housework and parenting tasks than men. They also carry an important symbolic load: to make general management of the home organization on top of all work responsibilities. It's a boon if men do share the load on both areas. Most modern men do find it ideal to share the loads equally.
Establish limits, schedules and a clear and specific division of tasks both in the professional and private fields.
Related : Get Your Work-Life Organised Today
It is difficult to keep your identity intact when having a partner and even more so when sharing 90% of your daily life with that person. However, another of the most frequent causes why partner partners fail is due to the generation of frustration in one of the parties since sometimes the balance of interests is difficult to achieve. It is important to value opinions and suggestions than treating your partner as an employee. This can trigger psychological issues and it's ideal to be on an equal base.
Something that you must be very clear about is why you are undertaking and why you are doing it with your partner. It is important not to do it for the wrong causes and to know what moves you, what hurts you, what problem you want to solve in the world. And if all that lines up with what your partner is looking for: Kudos!
The key to financial success and peace for the couple, inside and outside the business, is that one person is capable of carrying out the administrative and financial execution of the decisions made by both parties.
Budgets, control of expenses and cuts will be the daily meals, but with order and respect for the work of both roles, they can reach a point where this area ceases to be a problem and becomes an area of impulse and of ambition.
My golden suggestion is: get evaluated every six months. Performance, goals achieved, challenges, growth, to know and be clear about what is not working and what the other person thinks is not working. Just as large corporations carry out periodic evaluations of their employees.
Both hard facts and perception are key to developing a partnership sown in trust, support and self-fulfillment.
Working with your partner and especially if it is an undertaking, is not something to be taken lightly. It should be viewed from two angles: the professional and the personal. As well as making the decisions that are the most appropriate for both parties.
Foot Note: Entrepreneurship involves sacrifices but if you manage to align your goals and values with those of your partner, go ahead!