Should Your Spouse Be Your Business Partner?
This is probably one of the questions that we contemplate once every couple of months in our house. Thankfully, the answer is always yes! My wife and I have worked together on and off for years now and recently when we decided to give it another go, it seemed to be working out better than ever (and still is). That’s thanks to a few key changes we made in our home life that translated really well into our business partnership. I’m excited to share them with you in this post!
First things first, what is a business parter?
A business partner is an individual or entity that collaborates with another entity to achieve shared goals and objectives in a business setting. They contribute resources, knowledge, and expertise to enhance the operations, growth, and success of the business.
How Do You Maintain A Good Relationship With A Business Partner?
To maintain a good relationship with a business partner, effective communication is key. Regularly scheduled meetings and open lines of communication help establish trust, transparency, and collaboration. It is important to actively listen to your partner's ideas and concerns, fostering a culture of respect and understanding. Building on shared goals and objectives allows for mutual growth and success. Additionally, being reliable and delivering on your commitments reinforces credibility. Honesty and integrity should be upheld in all interactions, even when facing challenges. Lastly, celebrating successes and expressing gratitude for the partnership strengthens the bond. By following these principles, a solid foundation can be established, fostering a fruitful and long-lasting business relationship.
All of the ways you would foster a good partnership also apply to your relationship with a significant other, however, when your loved one becomes your business partner there will be some shifting dynamics:
You won’t be able to come home and complain about your co-worker in a judgement free zone
Work will follow you home
Your livelihood will rely on your ability to effectively work with your partner since there will likely be only 1 income source, namely your business
You and your partner may not get a chance to miss each other after spending all day together
5 Tips for When Your Spouse is Your Business Partner
1. Clearly Define Roles and Responsibilities: Establishing clear roles and responsibilities is crucial for a successful partnership. Divide tasks based on each person's strengths and expertise to avoid conflicts and confusion. Clearly outline who will handle finances, marketing, operations, and other key aspects of running the business. Much like you might delegate chores between you and your partner it helps to make sure you each know what you’re responsible for.
Michelle prefers to cook and I handle the dishes. Both roles are important and holding ourselves accountable for our own tasks eliminates frustration and makes for a smoother daily workflow. Especially when you have so many things to talk about, it’s nice to have a few to-dos that don’t need to be verbally delegated every time. Which brings us to the next point:
2. Maintain Open and Honest Communication: Effective communication is the cornerstone of any successful partnership, particularly when it involves your spouse. Always prioritize open and honest dialogue to keep the lines of communication strong. Regularly discuss both professional and personal concerns to resolve issues quickly and ensure your goals align.
Eventually you’ll have some sort of disagreement and it’s important to remember that you’re both on the same team. Disagreements should invite conversation not language that sounds offensive or causes your partner to become defensive. I don’t know a single couple that communicates perfectly 100% of the time but as long as you’re both trying your best and are coming from a place of compassion and understanding, you’ll figure it out.
3. Set Boundaries between Work and Personal Life: Balancing work and personal life can be challenging when your spouse is also your business partner. Establish clear boundaries between the workplace and home to maintain a healthy work-life balance. Avoid discussing work at all hours and set aside specific times to focus on personal matters and quality time as a couple. Inevitably the boundaries will get blurry and sometimes your business can even be fun to discuss.
That’s completely normal and while setting boundaries is a great way to maintain separation and excitement for your business partnership, I’ve found it’s almost impossible to keep the 2 from overlapping. Our studio is set up in the basement of our home and with 2 toddlers running around there is almost always chaos around work and home life. If you can have a physical separation between your work and home life, I recommend it!
4. Practice Regular and Constructive Feedback: Constructive feedback is essential for personal growth and professional development. Create a safe and supportive environment where both partners can provide feedback to each other. Regularly review business strategies, projects, and individual performance to strengthen your partnership and make necessary improvements. Exposing 1 pain point per person during your monthly business meetings could help a lot because it gives your partner a chance to offer help or a new perspective on the issue.
For instance, a couple of years ago my wife was especially frustrated because I wasn’t making enough content for my YouTube channel. When I opened up and explained that I didn’t like editing my talking heads and that it was a huge bottle neck for my workflow, she told me that she loved that part of post-production and since then she’s been taking over more of those types of tasks. Since then I have been able to get more content out and created a better workflow for both me and my partner.
5. Nurture Mutual Respect and Appreciation: In any partnership, including the one with your spouse, mutual respect and appreciation are vital. Recognize and acknowledge each other's contributions and successes. Celebrate milestones together and offer support during challenging times. Demonstrating respect and appreciation fosters a positive and harmonious working relationship. Try writing a hand written note and leaving it for your partner to stumble upon.
I can always tell when my wife is feeling down or under appreciated. And if I can’t, she’ll usually tell me which is helpful (see point 2). If that happens, I’ll do my best to give her praise on something I may not have previously noticed or suggest she take a day to herself to recharge and do something she loves. It also took us some time to come to a place of mutual respect because while we both wanted to succeed, our vision for how to get there was not always the same. I’m lucky to have a partner that trusts my vision and lends me hers sometimes if I’m feeling uninspired.
Remember, working with your spouse as a business partner can be a unique and gratifying experience. Like any relationship, it requires consistent work and attention to keep a good working and personal relationship with the same person.
A Few Extra Things We Do To Maintain Harmony In Our Partnership
Planning breaks intentionally meaning while we may not be able to completely separated work and life, we can designate Tuesday nights “no work nights” or something similar.
I like to step in when I see my wife struggling and she does the same for me. So if I notice that she’s having a hard time finishing up an edit or getting one going, I’ll take 30 minutes and give the project a little push. This allows her to take a mental break and still know that her project is being worked on. She appreciates this a lot and helps our relationship tremendously.
We take some time apart every couple of months. I’ll go on a solo filming trip or Michelle will go visit family and when we have 3 or 4 days without face-to-face interactions we really appreciate each other more when we come back together.
Since this is a business and we both wear multiple hats at the same time one of our favorite things to do is learn something new together whether it’s the best thumbnail practices for YouTube videos or how to write effective blog posts, it gives us a new way to grow together instead of apart.
Above all else, this is your life partner so unlike in a regular business where it can fall apart for whatever reason and people go their separate ways, you live with this person and choose to love them every day so maintaining that piece should always be the most important thing. I hope these tips were helpful and gave you some insight as to how we maintain our dual partnership! What do you do to keep your work and home life balanced with your partner?
