Business Partners & Marital Partners Will The Marriage Survive - Part I

Home
>
Marriage & Wedding
>
Business Partners & Marital Partners Will The Marriage Survive - Part I

Business Partners & Marital Partners Will The Marriage Survive - Part I

With today's economy, and the layoffs occurring as a result of these economic conditions, more and more people are opting to start their own business. Due to the low start up costs, the prevalence of home-based businesses is on the rise, many of these started by husband and wife teams.

With the move from the corporate world to the home-based, couples are finding that a new set of problems are occurring. In the corporate arena, two major areas of importance are profits and communication with employees. This is done through evaluations, reviews, meetings, or a company newsletter outlining company policies and news. All administrators realize that a happy and informed employee is more efficient and productive; in effect, increasing their profits.

Research on martial separation and divorce indicates two of the main causes of separation and divorce are communication and money, very much like corporate concerns. In the past, spouses worked in their respective jobs, and came home to discuss what was going on in the work place. In effect, they were sounding boards for one another. With the move to the home front, especially with starting up businesses together, the sounding boards are gone.

In effect, placing couples in a start-up business can cause a myriad of problems, previously seen only in the corporate world, in addition to the normal stumbling blocks of starting up a business. Too many couples working together are not practicing good communication skills. Lack of communication, can cause one spouse to feel that he or she is carrying all the business and monetary responsibility.

Keep Your Marriage Solid

If you and your spouse have decided to run a business together, be sure to discuss and outline the following:

Delineate responsibility. Decide who is going to handle what business matters. In addition, be sure you both know how to accomplish these functions. Unfortunately, illness occurs - you need to be able to back up each other in all aspects of the business. For example, if one of you does all the bank statements, be sure your spouse understands how this is accomplished, so if necessary, they can also handle this responsibility. If you have a set procedure you follow and a way you want it done, make up an outline, so it is accomplished in the manner you want.

Marketing, return calls, daily correspondence, invoicing, weekly and/or monthly expenses, supplies, calendaring, appointments, deposits, bank statements, implementation of the business plan, attendance at meetings (e.g. Chamber mixers, National groups, User groups, etc.) all need to be taken care of. You will have to split these responsibilities between you. Again, be sure you know how each is implemented, so in an emergency, you can back each other up.

Delineate responsibilities according to likes and dislikes and who will do the best job. We all have our little niches, and if it is something we like and do well, we can accomplish it better and more efficiently. Once the responsibilities have been delineated, make up a schedule for each item you both need to deal with. Again, you must be able to act as each others back up.

Marketing is a major obstacle. Most individuals do not like to use cold calling as a medium to promote their business. Be sure both of you are involved. Do not let one person handle this. In addition, develop a marketing strategy. Will you market daily, weekly, monthly? What kind of marketing will you do-advertising, cold calls, direct mail, etc. Again, be sure you both are involved. This is important because money and marketing are tied together. The more you market, the more aware the marketplace will be of the services you offer. If only one individual is marketing and monies are fluctuating, there is more tension between the partners to make the business successful. No one individual should have to carry this on their shoulders, or perceive that they do. In addition, with both spouses marketing, one person cannot blame the other for the success or failure of the business.

The Most Important Tool

Remember, the most important tool you both have is communication. Don't expect your spouse to read your mind. Keep the marriage and business separate. It's difficult, especially if you are home-based, but it can be done. If you have a problem with the way your spouse is accomplishing a task in the business environment, discuss it immediately. Do not wait. Do not let this build into anger that is transferred to your personal relationship. Remember that keeping your business and personal relationships separate is very important to the survival of both your business and your marriage.

In Part II of this article we will discuss how to implement this strategy.

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: subscribeHBS@homebusinesssolutions.com

In The News:

Top Stories - Google News
Updated : Wed, 08 Sep 2010 02:32:58 GMT+00:00

Business laments end of close working relationship with Mayor Richard Daley - Chicago Tribune

Telegraph.co.uk

Business laments end of close working relationship with Mayor Richard Daley
Chicago Tribune
Chicago's business community, which repeatedly stood and delivered for Mayor Richard Daley as he reshaped a once-sagging industrial city, was shaken to learn Tuesday that he is stepping aside as the ...
From Chicago's 'Mayor for Life,' a Decision Not to RunNew York Times
Chicago Mayor Richard Daley says he will not run for re-electionLos Angeles Times
Will Rahm Emanuel Run for Chicago Mayor?Newsweek
Politico (blog) -ABC7Chicago.com -Chicago Breaking News - Tribune
all 858 news articles »

Publ.Date : Wed, 08 Sep 2010 01:31:38 GMT+00:00

Sharp aftershock rattles quake-weary New Zealand city - Reuters

Telegraph.co.uk

Sharp aftershock rattles quake-weary New Zealand city
Reuters
WELLINGTON, Sept 8 (Reuters) - Authorities in New Zealand's quake-ravaged Christchurch city extended a state of emergency for another seven days on Wednesday, as a strong aftershock cut power and closed a key highway, with the region told it can expect ...
Quake: Canterbury state of emergency extendedStuff.co.nz
Christchurch Extends State of Emergency for Week as Aftershocks ContinueBloomberg
5.1 aftershock shakes fragile CanterburyNew Zealand Herald
BBC News -Telegraph.co.uk -Sydney Morning Herald
all 5,338 news articles »

Publ.Date : Tue, 07 Sep 2010 23:44:19 GMT+00:00

French strike over plan to raise retirement age - Los Angeles Times

BBC News (blog)

French strike over plan to raise retirement age
Los Angeles Times
More than a million take to the streets to protest the move, which Sarkozy says is needed to reduce the country's deficit. Private- and public-sector workers demonstrate over pension reforms in Strasbourg, France. (Jean-Marc Loos / Reuters / September ...
Sarkozy, labor unions face showdown over pension reformXinhua
French Unions Escalate Protests Against Pension ReformWall Street Journal
France: Protests over pensions bring over a million onto boulevardsThe Guardian
BusinessWeek -Sydney Morning Herald -Voice of America
all 1,515 news articles »

Publ.Date : Tue, 07 Sep 2010 21:43:54 GMT+00:00

Its power spent, remnants of Hermine heads north - Houston Chronicle

Boston Globe

Its power spent, remnants of Hermine heads north
Houston Chronicle
AP Texas News By PAUL J. WEBER AP Writer © 2010 The Associated Press RAYMONDVILLE, Texas — Its power spent, the remnants of Tropical Storm Hermine continues to drench north and central Texas with a tropical deluge. A flash flood watch was in effect for ...
Hermine slips to depression as it sloshes through TexasTampabay.com
Hermine is downgraded to a tropical depressionNOLA.com
Tropical Storm Hermine Adds Power; Landfall Possible Monday -NHCWall Street Journal
News 8 Austin -KWTX -USA Today
all 2,693 news articles »

Publ.Date : Wed, 08 Sep 2010 01:30:15 GMT+00:00

US religious leaders condemn "anti-Muslim" frenzy - Reuters

Globe and Mail

US religious leaders condemn "anti-Muslim" frenzy
Reuters
WASHINGTON (Reuters) - US religious leaders on Tuesday condemned an "anti-Muslim frenzy" in the United States, including plans by a Florida church to burn a Koran on September 11, an act a top general said could endanger American ...
Reaction to proposed Koran burning doesn't faze Florida churchLos Angeles Times
In Florida, Many Lay Plans to Counter a Pastor's MessageNew York Times
Evangelical Christian Group in Florida Plans to Burn KoransVoice of America
Wall Street Journal -msnbc.com -Christian Science Monitor
all 3,083 news articles »

Publ.Date : Wed, 08 Sep 2010 02:24:30 GMT+00:00

Obama to unveil more stimulus, tax breaks for business - Washington Post

Washington Post

Obama to unveil more stimulus, tax breaks for business
Washington Post
With Democrats facing dismal prospects in the November elections, the party is weighing President Barack Obama's role in the midterms. By Lori Montgomery President Obama plans Wednesday to officially unveil more than $180 billion in fresh spending and ...
Palm Beach County businesses hopeful, skeptical about tax breaksPalm Beach Post
Obama Infrastructure Plan To Stir Fight - House RepublicanWall Street Journal
Suddenly, a raft of tax-break proposals from ObamaThe Associated Press
The Washington Independent -Washington Times -89.3 KPCC
all 3,975 news articles »

Publ.Date : Wed, 08 Sep 2010 01:16:22 GMT+00:00

Grim outlook for Democrats puts House up for grabs - The Associated Press

USA Today

Grim outlook for Democrats puts House up for grabs
The Associated Press
WASHINGTON — Disgruntled voters, a sluggish economy and vanishing enthusiasm for President Barack Obama have put 75 seats or more in the House — the vast majority held by Democrats — at risk of changing hands and putting Republicans in charge. ...
GOP set for big congressional gains in DixieSouthern Political Report
Democratic Primary Turnout Lowest in 80 Years, Study ShowsCBS News
Election-cash spigots running at full blastWashington Times
Lynchburg News and Advance -USA Today -CQPolitics.com
all 1,211 news articles »

Publ.Date : Wed, 08 Sep 2010 00:02:28 GMT+00:00

RSS For Web Pages
Website Traffic Promotion

Business Partners & Marital Partners Will The Marriage Survive - Part I

Marriage & Wedding