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: http://www.homebusinesssolutions.com

spring cleaning service Deerfield ..

In The News:

Analysts at Silent Push have uncovered a widespread scam that uses counterfeit retail websites to steal the credit card information of online shoppers.

Chrome users need to update their browsers immediately as Google addresses a critical vulnerability that hackers are actively exploiting. Additional security measures are recommended.

A study found teens glance at phones for dangerous two-second intervals while driving, using devices primarily for entertainment, texting and navigation despite crash risks.

Security researchers uncovered a flaw in Windows 11 that allows attackers to disable Secure Boot using Microsoft-signed tools, requiring manual updates to protect against bootkits.

Carnegie Mellon's noninvasive brain technology allows users to move robotic fingers by thinking about the motion, offering new possibilities for people with motor impairments.

Multi-factor authentication (MFA) adds an extra layer of protection to your accounts. Instead of relying only on a password, MFA requires you to verify your identity using two or more methods.

Scientists from Duke, Harvard, and the University of Otago have unveiled a game-changing tool called DunedinPACNI. It uses a single AI brain scan to reveal how fast a person is biologically aging.

A disturbing wave of fake agent phone scams is sweeping across the United States, catching people off guard and draining their savings.

Emojis aren't just playful add-ons; they're powerful tools for building stronger connections in our increasingly digital world.

Google has taken a major step toward the future of clean energy by partnering with Commonwealth Fusion Systems (CFS), an MIT spin-out working to build one of the world’s first commercial fusion reactors.

If you create and share art online, you might have seen messages warning that Facebook's parent company, Meta, claims the right to use or even sell anything you post, whether it's pictures, poems, or artwork.

Cybercriminals hit Qantas in a major data breach that exposed information from up to six million customers.

Having reliable, loud, and timely emergency alerts on your phone or device is important because when severe weather strikes, every second counts.

Here's how your daily brew is becoming the foundation for greener buildings.

Artificial intelligence (AI) and large language models (LLMs), such as ChatGPT, are transforming how we learn. But what does this mean for AI and learning retention?

Modern AI data centers use much more electricity than traditional cloud servers. In many cases, the existing power grid cannot keep up. One innovative solution is gaining traction: repurposed EV batteries for AI data centers.

Microsoft 365 and Outlook users are being targeted by a tactic that injects fake billing alerts directly into their calendars.

Researchers are now showing us that old smartphones as data centers could be the next big thing in sustainable tech.

Scientists have created micro-robots for sinus infection treatment that can enter the nasal cavity, eliminate bacteria directly at the source, and exit without harming surrounding tissue.

Let's examine how your data is collected in everyday life, who is buying and selling it, what happens to it afterward, and, most importantly, what you can do to protect yourself.

Researchers at the University of Sheffield in the U.K. developed small robots called "Pipebots" that can travel inside water pipes to find and potentially repair leaks, all without any excavation.

A groundbreaking new study has uncovered disturbing AI blackmail behavior that many people are unaware of yet.

Four teams of autonomous humanoid robots competed in China's first AI soccer tournament, demonstrating advanced capabilities in ball detection and independent decision-making.

The ID. Buzz autonomous van features self-driving technology with 13 cameras, nine LiDAR units and five radars after Volkswagen partnered with Hamburg and Uber for 2026 deployments.

Social Security phishing scams use urgency and impersonation to steal personal data. Learn how to spot fake SSA emails and implement 10 protective measures.

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

Marriage & Wedding