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The Do’s and Don'ts Of Running A Business With Your Spouse

Updated: Jul 5, 2021

Is running a business with your spouse really a smart idea?

They are already your life partner. But is making them your business partner healthy for your relationship?

When it comes to running a company with your life partner, people have different opinions. 

Some might say that mixing business with pleasure only leads to problems. Others might say that it couldn’t have been easier to have someone you already trust working with you. 

Well, both are true to some extent.

There are definitely risks and perks involved. It all comes down to how well you and your spouse communicate with each other.

At worst, couples could face ruining both their marriage and business. But successful execution of a plan would mean a lifetime of happiness and wealth. 

That’s what we’ll be diving into in this article. We will share the do’s and don’ts of running a business with your significant other. So if you’re already working with your spouse or thinking about it, this will be a good read for you.

Setting Your Expectations

Before you even think about running a business with your spouse, ask yourself this:

  • Am I happily married?

  • Are we financially stable?

  • Do we agree with each other’s work ethic?

These simple questions will help you determine whether you’re fit to run a business with your spouse. And if you answered “no,” you’ll need to focus on fixing that part of your relationship first.

It’s not ideal for you to start a business if you know that there will be many problems along the way. Especially if you’re broke – money fights are the second leading cause of divorce. To make sure you have the right start, you and your spouse will need to set some expectations. Both of you will need to plan out the pros and cons of working together before setting some ground rules.

Once the expectations are in place, there will be less uncertainty and more success.

DO: Share The Same Goals

Committing to running a business together is another significant step in your marriage. That’s why it’s important to share the same goals, vision, and drive. 

When you’re both on the same page, you’ll be able to do things independently of one another. You’ll learn to give each other personal space and to support one another. 

If you want your business and marriage to run smoothly, you’ll need a 50/50 mindset. That doesn’t mean both partners will have to do equal work for the business: it means having equal responsibilities in all other things as well. This could be caring for your family, cleaning, or cooking.