Mixing one’s personal and professional life is something that society has always frowned upon. However illogical, the basic myth has always been that your love life can be a major distraction and should be restricted for only after-work hours. But what if you’re one of those daring few who are willing to join hands with your real life partner to make it big in the business of cutthroat competition? Is it a sure shot recipe to failure, you may often ask.
Will he or she let you advance in your goals or will you end up on the extreme end, risking much more than just your business? Read on to get a bird’s eye view of what you should consider before taking the leap.
1. They know where to tread: It is no surprise that a lot of successful companies have been built by partners who were longtime friends, classmates, relatives or lovers. Take a look at Lisa and Brian Sugar of POPSUGAR, Julia and Kevin Hartz of Eventbrite or even Bill Gates and Paul Allen for that matter. What you’ll notice is that both of them had a clear idea of each other’s shortcomings that intuitively defined their areas of responsibility. Each of their diverse personalities and skills sets could complement their shared goals within limited resources.
2. Resolving conflicts are easier: In the world of business, the biggest struggle is navigating relationships as they get bombarded day-in-day out with the stress and pressures of life. The best part? Your wife husband who now works with you actually has the sensitivity to understand your troubles since you both already share a high level of trust and comfort. And even if there’s a difference in opinion, you’re probably going to let it go for the greater good of your business. What’s even better is that your employees have the choice of approaching and confiding in either of you in case of personal conflicts.
3. Commitments are taken seriously: Having a shared business together means that one unattended hole in the boat, and you’ll both be drowning into the big bad sea. Since the stakes are higher, you’re likely to be more passionate and accountable to your company, your clients and your employees. Even if you’re having one of “those days” then rest assured, they are always someone you can count on.
1. No work-life balance: For the both of you, pillow talk will mean discussing deadlines and solving issues that you’ll never be immune from. Unless you draw some serious boundaries at home, you both will probably end up working on weekends also. And when it comes to taking long family holidays or celebrating birthdays and anniversaries, you’ll have to think twice. A real problem is when one of you doesn’t show up – because then your partner is most likely going to have to bear with the brunt of all your work.
2. Financially risky: For every start-up that has succeeded – a hundred have failed. Especially with the unpredictability of our economy, it’s a lot lets riskier if your partner has an alternative job with a stable income. Starting a joint venture together, means there’s no back up. This makes it even more paramount to ensure that your partner is equally as passionate as you when it comes to starting out together, because that means altering your lifestyle till you actually see returns.
3. Differences in opinions: Having a different perspective is usually healthy – because it helps you see potential pitfalls that you may not have anticipated. But, if you’re not able to communicate effectively and clear the air in time, then problems can internally build up and cause havoc. Lack of mutual respect and complete avoidance of the other, can snowball into bigger issues in your personal life.