Being business partners with your spouse has its pros and cons
Going into business together is the ultimate compatibility test for every couple. Becoming business partners allows you to really get to know each other. In the process of building a business together it’s important to have the same motivations while maintaining a healthy work-life balance.
Having the same goals and values is one of the advantage of working with your spouse. Sharing every part of your life makes it easier to have common priorities when it comes to taking care of your family and business. Working with your spouse also allows you to celebrate successes together. Achieving common goals does not only strengthen a business partnership, but also the bond between spouses. Most couples also have a deep understanding of their partner’s strengths, weaknesses, emotions and communication style, which makes it easier to cope with stressful situations.
Read more about the pros and cons of working with your spouse
There are also a few disadvantages to being in business with your spouse. Working together can put a lot of pressure on the relationship. When the work day is over, it can be difficult to leave stress behind and enjoy just being husband and wife or mom and dad. It’s important to separate business from your personal life. When decisions are made at work, successful spouses know how to be objective and respectful even when they disagree.
What to do if you’re married to your co-founder
Relying on your personal relationship with your spouse works early on when business issues are not yet complicated, but a legally binding Operating Agreement helps you prevent disagreements from turning into business-killing disputes. Click here for more information about our 4-step process of creating Operating Agreements.