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Business Partners & Marital Partners, Will the Marriage Survive? Part 1
by Chuck & Sue DeFiore
With today's economy, and the layoffs occurring as a result of these
economic conditions, more and more people are opting to start their own
business. Due to the low start up costs, the prevalence of home-based
businesses is on the rise, many of these started by husband and wife
teams.
With the move from the corporate world to the home-based, couples are
finding that a new set of problems are occurring. In the corporate
arena, two major areas of importance are profits and communication with
employees. This is done through evaluations, reviews, meetings, or a
company newsletter outlining company policies and news. All
administrators realize that a happy and informed employee is more
efficient and productive; in effect, increasing their profits.
Research on martial separation and divorce indicates two of the main
causes of separation and divorce are communication and money, very much
like corporate concerns. In the past, spouses worked in their respective
jobs, and came home to discuss what was going on in the work place. In
effect, they were sounding boards for one another. With the move to the
home front, especially with starting up businesses together, the
sounding boards are gone.
In effect, placing couples in a start-up business can cause a myriad of
problems, previously seen only in the corporate world, in addition to
the normal stumbling blocks of starting up a business. Too many couples
working together are not practicing good communication skills. Lack of
communication, can cause one spouse to feel that he or she is carrying
all the business and monetary responsibility.
Keep Your Marriage Solid
If you and your spouse have decided to run a business together, be sure
to discuss and outline the following:
Delineate responsibility. Decide who is going to handle what business
matters. In addition, be sure you both know how to accomplish these
functions. Unfortunately, illness occurs - you need to be able to back
up each other in all aspects of the business. For example, if one of you
does all the bank statements, be sure your spouse understands how this
is accomplished, so if necessary, they can also handle this
responsibility. If you have a set procedure you follow and a way you
want it done, make up an outline, so it is accomplished in the manner
you want.
Marketing, return calls, daily correspondence, invoicing, weekly and/or
monthly expenses, supplies, calendaring, appointments, deposits, bank
statements, implementation of the business plan, attendance at meetings
(e.g. Chamber mixers, National groups, User groups, etc.) all need to be
taken care of. You will have to split these responsibilities between
you. Again, be sure you know how each is implemented, so in an
emergency, you can back each other up.
Delineate responsibilities according to likes and dislikes and who will
do the best job. We all have our little niches, and if it is something
we like and do well, we can accomplish it better and more efficiently.
Once the responsibilities have been delineated, make up a schedule for
each item you both need to deal with. Again, you must be able to act as
each others back up.
Marketing is a major obstacle. Most individuals do not like to use cold
calling as a medium to promote their business. Be sure both of you are
involved. Do not let one person handle this. In addition, develop a
marketing strategy. Will you market daily, weekly, monthly? What kind of
marketing will you do-advertising, cold calls, direct mail, etc. Again,
be sure you both are involved. This is important because money and
marketing are tied together. The more you market, the more aware the
marketplace will be of the services you offer. If only one individual is
marketing and monies are fluctuating, there is more tension between the
partners to make the business successful. No one individual should have
to carry this on their shoulders, or perceive that they do. In addition,
with both spouses marketing, one person cannot blame the other for the
success or failure of the business.
The Most Important Tool
Remember, the most important tool you both have is communication. Don't
expect your spouse to read your mind. Keep the marriage and business
separate. It's difficult, especially if you are home-based, but it can
be done. If you have a problem with the way your spouse is accomplishing
a task in the business environment, discuss it immediately. Do not wait.
Do not let this build into anger that is transferred to your personal
relationship. Remember that keeping your business and personal
relationships separate is very important to the survival of both your
business and your marriage.
In Part II of this article we will discuss how to implement this
strategy.
Copyright 2000, DeFiore Enterprises.
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About the Author
Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to
visit the site? Subscribe to our "how to" Home Business Solutions
Digest, it's like having your own personal coach: subscribeHBS@homebusinesssolutions.com
Click here to learn more about Chuck and Sue DeFiore
Articles by Chuck and Sue DeFiore
 Managing Cash Flow 
Juggling The Day With A Deal
Various Aspects Of The Lease Purchase Business
Does Your Business Need An Attitude Adjustment?
Ethics in Business..A Lost Art
Referrals…The Secret Weapon
How To Give Yourself A $20,000/Year Raise
A Forgotten Marketing Tool - The Postcard
Using Those Business Cards
Is Your Business Safe?
Getting Started In Real Estate
Take It To The Customer
The Art Of Calling on Real Estate
Finding and Qualifying The Tenant/Buyer
Checklists for Tenant/Buyers and Sellers
The Lease Purchase Business Day
Warming Up to Cold Calls
Businesses - Leisurely Dining Or Fast Food?
How Do I Implement The Lease Purchase Plan
Guidelines For Choosing A Guru, Coach...
Are You A Shoulda, Coulda, Woulda?
Are You Profiting From O.P.P.?
The Many Ways To Profit From O.P.P....
How Do You Profit From O.P.P.?
Consulting Your Way To A Six Figure Income!
Business Partners & Marital Partners (Part I)
Business Partners & Marital Partners (Part II)
The "Psyche" of The Seller and The Tenant Buyer
The Divine Secrets Of The Ya Ya Lease Purchase Hood
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Article reprinted courtesy of Total Real Estate Solutions
http://www.totalrealestatesolutions.com
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