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What do you think about sharing a business with your spouse? Debate

  • MusicMoguls Level X3
    • 13

    Write the reason you're deleting this FAQ

    What do you think about sharing a business with your spouse?

    When talking about dual ownership it has its ups and downs - you know everyone wants to feel a part of the team and there are also times where one may not not feel as if he/she is actually a part of the team, and not always feel on board. All this is bound too happen and it is normal. There are plenty of team building exercises and ways to lead to more understanding. But it is best to try to keep family and business separated as much as possible in my opinion.

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    TommyCarey

    TommyCarey

    I don't think I could have my spouse as a partner in my company. There would be too much bias and if she did mess something up, I would have to be the one to yell at her. I think it would just put a strain on our relationship and inevitably end bad.

    I do have a friend who is one of my partners in a company and it's going pretty well. He's been working with me for about 6 years in one of my companies and I think it works well because he wants to see the business flourish just as much as I do What do you think about sharing a business with your spouse?

    When picking a partner for you company or website, you'll need to make sure they have a good background in the niche and bring value to your business. Signing over part of your company to a friend because he/she is nice isn't going to make you any money and you'll just get pissed off because they didn't bring anything of value to the company.

    I split my company with my friend because he was extremely smart and knew a lot about computers. It took me about 6 months to train him enough that he could go out on his own and bring in leads. I would teach him and we would have websites set up that he could toy with and not worry about destroying lol. After the 6 month mark I felt he was good enough to unleash on the public lmao What do you think about sharing a business with your spouse?

    The same goes with your spouse, don't just bring them in because they're pretty, that won't make you money. Now if they have a background in your niche, then think about bringing them in to see what they can do What do you think about sharing a business with your spouse?
    10 years ago

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    MusicMoguls

    MusicMoguls

    i agree completely what it comes down to by the end of the day is getting the right partner that fits what it is your looking to fill job wise. emotions aside you got to make sure that you take care of the business and make sure that all those on board are mentally prepared to handle business. make sure the ones you have on your team are the most qualified . just like you said you cant just hire a pretty face even if you happened to be married to that pretty face. decisions have to be smart always
    10 years ago

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    idealmike

    idealmike

    The thing is with mixing business with family or friends, is that when things go wrong, you can't really deal with them in the same way as you could if they was on your payroll or a signed partner in the business. Because they are your spouse or family, they expect to be treated differently but when it comes to business, well, business is business. And if things go wrong, as sometimes they can, you can't really deal with / handle them in the same way as you could someone that isn't part of your family such as your brother, uncle or spouse. Sometimes if things go wrong with the business that was due to something your partner, family member or spouse done, it can put a strain on that family relationship which nobody wants at the end the day. I mean, who wants to fall out with one of their family members?

    There's nothing worse in life than that sometimes. So mixing business with family isn't always a good idea. Where as if it's someone not in your immediate family, or just not in your family at all, if they do something wrong that is detrimental to the business, you can just sack them and that's it. You don't have to see them anymore after that. Where as if you sack your partner that you're married to, you're still going to have to see them. They'll be a constant reminder of what went wrong and how you can't work together on the same business related matters.

    So I agree with you and think that where possible, you shouldn't employ family members to work for you or go into business with them unless you both have a professional working ethic from start to finish. Plus it's easier to tell people who you don't really know that work for you to do something as opposed to telling someone who is your family member to do things for the business at times.

    Of course, some working family business relationships work out great and these problems never transpire. But generally, it's often best not to mix business with family for these reasons. When things go pear shaped in the business, you always have your family to come home to who aren't a part of the problem that your business has. So try to keep family separate from business for these reasons! What do you think about sharing a business with your spouse?
    10 years ago

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    MusicMoguls

    MusicMoguls

    yea i completely agree see what it is, is when you got to be the boss you have a full awareness of what your business needs and does not need in order to prosper , there are lots of factors that fall into play when getting a successful and really motivated team together, of course in the beginning everything will start off with every one all on the same page but as you said as soon as something goes wrong and things go south there will be a lot of strain on the relationships. which could be bad for home
    10 years ago

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    EliteWriter

    EliteWriter

    I think it depends on the couple. If they are both willing to make it happen, it can be done. I would love to be able to do it, but our characters are totally different, and chances are it would not be such a good idea to do it as we might end up arguing a lot. Since I am too much of a perfectionist and hard worker, it would be difficult for my spouse to keep up with my demands in a business setting. So as a general rule of thumb I do not think it is such a good idea to run a business together as a couple.
    10 years ago

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    MusicMoguls

    MusicMoguls

    you know what, you actually have a really good point to my understanding its been done before and people have managed a business with there spouse, it really does all depend on the couple by the end of the day but i also believe that it takes a special kind of couple a couple that is driven by the same passions, see people tend to connect with there spouse on a more romantic level but trying to bring that relationship into the business aspect of things id say eight out of ten times does not work. business is just business
    10 years ago

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    Everett

    Everett

    I don't believe it is a good idea unless they are experienced, or have the knowledge in the field as Razzy has suggested. I know far too many people whom end relationships because they were business partners. However, I have never really experienced this before so I can not give an answer based upon my experience but based from experience as one looking in, if you get that..?

    I have witnessed probably about 3 instances of failed businesses due to difference of opinion. It can be wonderful to include your partner however from what I have seen, I don't believe I could..
    10 years ago

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    MusicMoguls

    MusicMoguls

    another valid point , in many cases of things going bad relationships and marraiges have ended people left with nothing even divorce it gets bad real bad, thats a real huge risk for those of us taking on that dual ownership challenge , its just what it comes down to honestly is decisions making and yea you know you think to yourself i decide on things all the time with my wife , but in all honesty we all know picking out curtains for the living room is not the same as picking out potential investors for an upcoming project
    10 years ago

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    Lynne

    Lynne

    I have seen these things go so wrong so often with other people. I think everyone needs a bit of distance from the people they are close to, whether this is your kids, your spouse, your parents, your siblings and your friends.

    I think my hubby and I might be able to work together... if we have separate office space and only converse via email. If he has his set job description and I have mine and we don't overlap.

    Oh and very important, I have the final say in everything, because I am the wife and I am always right.
    10 years ago

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    vinaya

    vinaya

    I think this is a good idea. Since you share most of the things with your spouse, you can also share your business idea as well. In fact if you share your business idea, your spouse may even support your business financially and emotionally.
    I am thinking to start a front store, I shared this idea with my wife, she encouraged me and even offered to use some of her money. Then one day she offered an idea to work for the business in tandem. Soon we will be launching this business.
    9 years ago

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    Pixie06

    Pixie06

    I don't think that it is a good idea. I don't want my friends or family to be involved in my business and I think that it is better this way. I personally know people who were good friends and they started a business together. Unfortunately they couldn't agree on many things and eventually had to dissolute the company. If you are working with your family it can be much worse as those people may take you for granted and consider the business to be their own and do what please them.
    9 years ago

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    augusta

    augusta

    I'm always of the views of oneness by couples.If we can share our bodies why not the business.So I believe two heads will be better than one.So yes there's absolutely no problem having the same business together.It will create a better bond and the business will prosper I believe because one wil push the other to greatness.
    9 years ago

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    Corzhens

    Corzhens

    For me, me and my spouse are considered one. We adhere to the principle of conjugality that what is mine is his and what is his is mine. That makes for a better relationship when we have no individual ownership. Of course, it does not cover personal effects like clothes. Anyway, when I opened up a boutique, my husband was my partner and actually was the one managing the shop. It is actually better to share a business with your spouse than with another person because we have experienced a partnership with a family friend that did not go well.
    8 years ago

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