Running A Business With Your Spouse
Posted On: 15/08/24 - 0

Working as an entrepreneur can get complicated, as a matter of fact, downright difficult at times. You want to add more adventure to the equation? Start running a business with your spouse. That can be totally next level adventure for sure.

Make Sure You Are Both On The Same Page From The Start

As a married couple that started a business together, we know first hand the complications that can arise. Paul and I are both “A” personalities which has the potential to put some “fire” in the “cracker”. We had been through start-up mode which lasted a little longer than we had planned. After being in professional sales for several years, I thought this would be a piece of cake growing our business. Honestly, how hard can it be? Finding the right client for our business took some learning. I was so eager to take anybody on as a client in the first few years, but that proved to be a process. Finding the right client that fits the business model was not as easy as picking the low lying fruit.

Save Money For The Hard Times When You Run A Business With Your Spouse

We survived a downturn in the economy. Thankfully, Paul had always cautioned against overspending in the early years. He planned well for those financially challenging years that eventually arrived.

We survived a global pandemic. When most of our clients were forced to shut their doors we were pushed to the limit trying to keep up with all of the moving parts called Covid support and trying our best to keep our clients up to date. In additon to that, we were doing our best to manage other jobs of staff that were not able to work given they couldn’t find daycare because the dayhomes had been closed as well.

When I think about it, we have gone through some ups and downs in the business over the last 18 years. Together we have come through the challenges and have grown as a result. Both as a couple and as business partners. I think what really helped to go the distance in business together was the guidelines we set out for each other for this all to work.

Define Your Roles As Business Partners

Firstly, what we did was focused on each other strengths in the business and created very clear roles moving forward. Paul was the accountant. His focus was to get the work done. I was the sales professional, my focus was to find clients and get the work in. We have always stayed out of each other’s lanes.

Create Your Own WorkSpace

Secondly, Paul and I worked in the same office for a couple of years, but I was starting to feel like the lines were getting blurred between home and office. I was needing to have a bit of “distance” between us at the office and at home so the decision was made to have an office space developed so I could work from home. I still am home based to this day and I love it! As our buisiness has grown giving up my space was a blessing because it made more space for team members.

Committ To The Business As A Couple

Thirdly, there are going to be days occasionally where you want to throw in the towel. Running a business together had just become too big of a challenge. Thank goodness neither of us felt this at the same time. I am laughing as I write this because I remember saying to Paul “I quit” and Paul said, “you can’t quit, because I quit first”. We stepped back and heard what we just said and laughed. To take the business too seriously is harmful to the business and to the coupleship.

Set Boundaries With Your Partner

All too often in the early years, we would stay up very late talking shop. Even at the dinner table with our kids, when we should have been asking them about their days at school. We learned to set boundaries. No more business talk after 6:00 p.m. or over the weekends. Setting boundaries will reduce conflict in and out of the business.

Don’t Forget To Have Fun Running A Business With Your Spouse

Paul and I always made time for little getaways to ensure we were still doing fun things as a married couple and with our family. We made sure that we still made time for camping, hiking, fishing, etc. We knew the importance of taking time to recharge our batteries. Without these breaks we would have hit burnout quickly.

I have heard that 60% of couples fail in business due to lack of communication and trust. We have done what we can to ensure we are in it for the long haul. We do have meetings of two quite regularly, if not in the office, we do it at home, via zoom, or we have even had them over the phone. It is very important to the success of your business and more importantly to your coupleship to keep the lines of communication open always.

It’s possible to run a business with your spouse, but talk to people who have done it, learn from their mistakes and successes before you risk it all.

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

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780.482.7297