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5 Disadvantages of Running a Business With Your Spouse

Date:26-08-2013 12:20:05 read:11
Category:Life Style-->Cereer

Running a business with your spouse may seem to be a dream come true for you. But it isn’t as idyllic as it sounds. It is no bed of roses just like your life and relationship. The reality is, you’ll have to work twice as hard to save your relationship and the business. After all, you’re not just married to the man, you’re also married to the business. If your business succeeds, you’ll join the league of successful “co-preneurs”. But if it doesn’t, you’ll either have to sacrifice the relationship or step away from the business. Check out some of the disadvantages of running a business with your spouse right here.

1. Your partner may not be equally dedicated to the business

Your partner may have been equally excited when you started the business with you but is he fully devoted even now? Does he put in his whole soul into the venture? If he doesn’t, you’ll soon land into trouble. Partnerships in business work only when both partners promise equal commitment. Both partners have to work at the same pace so that the business prospers. If your partner falls short of the commitment, and you put extra efforts, arguments, resentment and quarrels are bound to occur.

2. Your partner and you may not share the same goals

Your partner and you are two different individuals, no matter how in-sync you are as life partners. Your individual personality determines how big you will dream and how challenging your goals would be. For a business to grow, co-preneurs should share the same goal and vision. Both partners should have the vision to take the business to a certain level. If differences occur with regards vision and goals, your business’ growth will be thwarted.

3. Your personal finances may get over utilized

Starting and running a business can be financially taxing. Of course, you can rely on financial institutions to lend you money for the business. But at some point, you’ll have to repay the funds. If your business does not derive as much profit as you had expected, you will have to dig into your pocket to salvage your business. Such a situation arises mostly during a crisis or when you are experiencing a financial crunch. And it is only during such situations that differences arise. If you aren’t ready to over utilize your finances, your dream of running a business with your spouse is shattered.

4. Your life will revolve only around business

When you work apart from your spouse, you have different stories to share, of your workplace and the tensions that come along. But when you run a business with your spouse, you spend most of the day at work with him. You both know about the tensions prevailing in the business. So, when you get some real alone time together, you still end up talking about your business. Personal life takes a backseat and business starts to become omnipresent in your life. Most co-preneurs complain that their talks about business not only enter drawing rooms but also find a place inside bedrooms at times.

5. Your spouse may not value your opinion

Running a business in partnership tags along with itself some difference of opinion. But when it comes running a business with your spouse, that difference of opinion can take a personal turn. This can prove to be harmful both for the business and the relationship. If your partner does not value your opinion in business, you will feel undervalued. This will have an impact on both your professional and personal life. If such a treatment tests your tolerance level, you may have to call it quits, either in your business or in your marriage or both.

Running a business with your spouse certainly has its share of advantages but you’ll also have to consider its demerits if you have to have a successful marriage and a business.

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