Getting married, having children, and much more are life-changing decisions that people make every day. These actions change the course of your life and place your focus, attention, and direction on an entirely new journey.
But while making several life-changing decisions as a married couple is common-place, starting a business together and ensuring it grows successfully is something most couples are very poor at executing. They don’t pay attention to the little details that could make or mar their business success but choose instead, to dive right into it, only to fall-out in a short time.
If you are thinking of starting a business with your spouse or already run a business together, here are 5 ways to build a successful business together:
See Also: What Successful Entrepreneurs Look For Before Starting a Company
1). Identify Your Strengths And Weaknesses:
At the start of a new business, the founders are usually expected to play as many roles as possible, so as to save potential costs that will enable them to bootstrap the business till it attains some form of cash flow. To do this, a lot would go into play, and all hands would have to be on deck.
But as a couple, rather than impose on each other’s efforts, it is critical you identify what each person can do best and comfortably, so you can delegate tasks in that light to each other.
When you split responsibilities based on each individual’s prowess, success becomes much easier.
2). Ensure You Both Agree On The Same Business Goal:
Do your goals, dreams, and visions align with each other? If they don’t, then it’s time to sit down together and reassess what you both want for the business.
Couples that work together need to be on the same page at all times. This means that no party can dominate the decision-making process by selfishly only imposing what they want for the business.
You should both agree on where you want the business to get to, then agree on how you both want to do that before you go on to execute your plans together.
This will prevent friction in the decision-making process and will ensure the both of you are working towards the same goals.
See Also: 7 Simple Changes That Immediately Make Your Business More Attractive To Investors
3). Respect And Compliment Each Other’s Efforts:
The good thing about being couples is rather than fire the other party, you have an obligation to help them improve in the very best way you can. When each party is carrying out their responsibilities, respecting and complimenting each other will go a long way in causing the other to know they’re appreciated, and so, would be more inspired and willing to put in more efforts.
If you only smite your spouse for every little mistake they make in the business, they wouldn’t just feel less-appreciated and less-motivated, which could lead to a business failure, but it could also threaten your relationship as a married couple.
4). Celebrate The Small Wins Together:
Whenever you both hit a milestone, land a new client, or achieve some laudable achievement in the business, you should get together as a couple and celebrate it.
Celebrating every small win is crucial to growing a successful business and personal relationship as a couple, as you also get time to not just be business partners but to appreciate the love that joined you two together in marriage in the first place.
See Also: How Successful People Recover From Making Mistakes
5). Have Alone-Time:
Asides just working on the business, each party in the relationship should still maintain a work-life balance, and that means being able to have a normal life outside the business. This gives clarity to each individual and enables both of you to pursue other life-goals at the same time.
Time out also helps both of you refresh your creative minds, and enables you to bring in new energy and ideas to the business over time.
What are your thoughts on these 5 ways to build a business with your spouse? Let me know by leaving a comment below.
Thank you very much Sir for the advise, especially for us who are already double partners. (marriage /business )God bless you for your wonderful job .
Thank you for reading, Shaba.
Do have a great time.
Thank you my business mentor more business ideas for us to succeed.
Thank you for the kind words, Bilikisu.
Do have a great time.
Hello,
How are you ? Good peace of advise especially for those intending to start business with their partners.
Thank you for the comment, Jackson.
Hi Stan,
It was great reading your stuff on the 5 ways of starting a business with your spouse.
Though i am thinking of starting in 2018 alone and not with my wife, the tips will definitely be of great value to me.
Keep it up
Thank you for reading the article, Justin.
I wish you the very best of the year 2018.
Do have a wonderful time.
Thanks for your informative mails. I need help with a properly detailed business plan for coconut oil production and fishery business. both business wil be situated in Calabar…so i would prefer the business plan to be tailored to its location. Can you help out? would be grateful. Please reach me via email. Thanks..
Hi Uduak,
Please send an email to [email protected].
Thank you.
Hi Stan,I’m really glad I came across someone like you. Thanks so much for your emails and updates. I would want you though to help me out..ive applied for quite a number of start-ups opportunities but I guess there’s always something wrong in my business plans.my event decor and rentals business could be revived by these grants…therefore would truly need your assistance in writing a good business plan.Thanks
Hi Shettu,
Please send an email to [email protected]
Thank you.
Great Article. My husband and I are planning to start a business soon and I’m somehow agitated on how it will play out. This has really encouraged me. I love your openness in discussing the roughness and toughness of getting along with your spouse; it’s so real. Thank God for the success so far.
Thank you for this amazing post. I was not searching for anything like this but i am glad i found it. a lot of couples have no knowledge about this and that is why they always have financial struggles which can damage their marriage