6 POTENTIAL CHALLENGES OF GOING INTO BUSINESS WITH YOUR SPOUSE OR PARTNER
The concept of a power duo is exciting and enticing. Two people conquering the world of business and building a legacy together seems like a cool thing to do considering the benefits it comes with including; Building a stronger relationship, Pursuing a shared vision, bringing on board complementary skills, having increased flexibility and better decision-making.
Regardless, couples working together can be challenging for the following 6 reasons:
- Blurred lines between personal and professional life: When a couple is running a business together, it can be difficult to separate personal and professional life. This can create tension and stress in the relationship, as there may be a constant need to discuss business-related matters.
- Different work styles: Spouses or partners may have different work styles or expectations, which can lead to conflicts or misunderstandings. For example, one partner may prefer a more relaxed work environment, while the other may be more structured and disciplined.
- Power dynamics: When one spouse or partner is seen as the primary decision-maker or has more control over the business, it can create a power imbalance in the relationship. This can lead to resentment or feelings of inadequacy.
- Lack of outside perspective: When a couple is working together, it can be difficult to get an objective perspective on the business. This can make it harder to identify potential problems or opportunities for improvement.
- Risk to personal and professional relationship: If the business is not successful or if there are conflicts that cannot be resolved, it can put a strain on both the personal and professional relationship.
- Difficulty in managing disagreements: Disagreements are a normal part of any business, but when they involve a spouse or partner, they can be more difficult to manage.
It’s important to develop healthy communication and conflict resolution skills to prevent disagreements from escalating and causing harm to the relationship.
So before you decided to start or run a business with your partner, ensure it is what you want, you have clear roles and responsibilities, you’ve established conflict resolution mechanisms and you are committed to ensuring that no matter happens, you relationship will stay intact; which is nearly impossible to do.
