Tips On Starting A Business With Your Spouse

 

 

Starting your own business can help you prepare a better future for your family. However, if you want to start a business with your spouse, there are added complexities compared to running a business alone or with other business partners.

I earlier shared with you the challenges of starting a family business.

Couples find that running a business together can increase tension between them. Since both are deeply involved in the business, the challenges can put a strain on the relationship, which sometimes cannot be avoided. You just need to expect there will be times where you will just need to agree to disagree so your relationship will not suffer.

The very first thing that you need to do is set basic guidelines for working together. Realize that as the business grows, so does your relationship. A few bumps on the road can develop. Your business or your relationship may suffer due to the tension between you and your spouse. But you both need to agree to fully commit to your partnership whether at work or at home, which should lead to long-lasting success.

Before (my wife) Lyndah and I built GMB, we both were employed. After getting my Singapore assignment, she had to resign, giving up a top position to be with me. And just like any other startup, challenges were shifting from my plan of establishing a restaurant in Manila to other ventures.

One challenge was my plans did not all materialize due to the environment in the country. I was too far advanced. I thus went back to employment to reestablish my roots before I finally decided to venture as a food consultant. One major challenge was how to tell the public. I thus approached Technology Resource Center (TRC) a government agency that teaches people various skills. There I volunteered to lecture about starting a business and franchising.

The 35 Years of GMB were full of ups and downs. But, what is important is that despite all those challenges, we are still here helping aspiring entrepreneurs. It is a huge fulfillment to be part of each of these entrepreneurs’ success. We see all of them as our children — we were there to guide them and ensure that they go through the right path and learn valuable lessons along the way.

The advantages of working as a couple supersede the disadvantages since all efforts are towards one goal and objective, all efforts are our gain, and both of us contribute into a pool of expertise.

How To Prevent Strain In The Relationship?

Here are some guidelines which can help couples maintain their focus on the success of their business while keeping their relationship stronger.

1. Set guidelines

Make a checklist of your individual tasks. You and your spouse have different strengths and weaknesses. Therefore, focus on your strengths which can help contribute to the success of the business, and turn your weaknesses into stepping stones to a better version of yourselves.

2. Ensure full commitment

When you put your heart in mind into something, anything that you do next is likely to prosper. Thus, it is of importance that the couple are into the business 100 percent. It would be difficult to rely on a spouse who is enthusiastic on the first couple of months but the interest slowly fades as he/she sees the difficulties in running a business.

3. Define your roles

Both of you need to regularly brainstorm on how you can run the business successfully. Both of you have to take different roles in which you should be knowledgeable.

4. Maintain each other’s trust and respect

Expect that there will be times that your ideas would clash. But keep in mind that even if this happens, you remain husband and wife and that whatever misunderstanding or miscommunication you may have about the business should not be brought home. Now, that can be a huge challenge for couples who are business partners. But, it is something that you must learn to work out.  

One great lesson I want to impart to those couples who are planning to take a similar journey as ours is to build solid credibility, trust, and compassion in managing a client. We strictly practice hands-on management so that our clients know that they are dealing with the owners.

The journey of an entrepreneur is not easy and can be doubly difficult when run with a family member/spouse. Therefore, patience, perseverance, and commitment should always be at heart.

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You may contact Armando “Butz” Bartolome for questions and more information.

By email: [email protected]

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