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By holding meetings like this you also avoid 'spillover' of
business into your personal time of which there is precious little to begin with. Which brings us to
next point.
KEEP BUSINESS AND HOME SEPARATE
The ultimate success of your business depends upon both of you making decisions based on what's best for
business. If you are not prepared to do this, then your business is doomed to failure. Really think about what this means before you start out. Do you - BOTH of you - have what it takes to do that? When
time comes will you forego that vacation to Hawaii to plough
money back into
business? Will you? Are you sure? What if
relationship's starting to get a bit shaky? Will you still do it?
It follows from what was said above that
business is something separate from
relationship/home. This is necessary for
survival of
business. Equally, it is necessary for
survival of your relationship.
What are some of
things you can do to keep business and home separate?
=> Set Business Hours
Set regular business hours and stick to them. Except in an emergency, what doesn't get done in business hours doesn't get done until
next day.
=> Don't Let Business Intrude on Personal Time
Personal time is all that time outside of regular business hours. Jealously protect it from encroachment by
business. If
business line rings at 7:30 pm and business hours ended at 6:30 pm, let
answering machine pick it up. In other words, shut
door on
business at
end of
day.
=> Don't Let Home Intrude on Business
Just as you must jealously guard your personal time, so too you must insulate
business from intrusions on
home front. So, when friends who know you work from home suggest you play hookey to hang out with them during business hours, say no. Schedule hanging out with friends for your personal time.
If you're at odds with each other about something to do with your personal lives, don't let it affect how you work together in
business. Focus on
task at hand, not your feelings about
personal issue. If it's getting in
way, resolve it. Don't let resentment undermine your working effectiveness.
OTHER ISSUES
Finally, there's a myriad of issues that are deserving of whole articles in themselves. They're listed here just as thought starters.
=> Family Demands
If you have children, there may be times when family demands can shift
commitment to
business of one or either of you. During such times, make sure it's only one of you whose commitment has shifted. Plan for what you will do if, for example, a child gets sick.
=> Outside Interests
To keep your relationship fresh and interesting, you should both pursue interests that are independent of
business and each other.
=> Separate Space
You live and work together. That's a LOT of togetherness. Everyone needs personal space. If possible, have separate work areas so you're not under each other's feet ALL
time.
=> Capital Sufficiency
Make sure you have sufficient capital to sustain you through
start-up phase of your business.
=> Where Did They Get
Money for That?
Has your business capital come from family sources? If so, beware scrutiny of your expenditure from family members. It is common for entrepreneurial couples with family money backing them to feel like they have to justify
necessity for a particular item of expenditure, particularly if unrelated to
business.
=> What if
Relationship Ends?
Particularly if
business is your sole means of livelihood, think about having a plan for what happens to
business if
relationship ends. While no-one likes contemplating such an eventuality,
fact is that half of all marriages end in divorce. Those are pretty high odds. You may agree that you will both continue with
business; one of you may buy
other out; or
business may be sold in toto with
profits being divided between you.
=> Succession Planning
If your business is successful, what will you do when you exit
business?
=> Business Failure
Finally, consider your financial position if
business fails. Not only are you out of work but so is your partner. This is a very different proposition from a business being run by only one spouse. At least then
other spouse is still bringing a paycheck home. Think about how quickly you will both be able to return to paid employment if
worst happens.
The prospect of running a successful business with our mate is
dream of many. It is natural to want to share as much as possible with our partner. But it is not for
faint- hearted and there are many issues to take into account. Don't make your decision based on visions of romantic togetherness. The reality will be altogether very different. But if, with eyes wide open and having taken all of
above factors into account, you believe you can be successful in business together, by all means go for it!
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Elena Fawkner is editor of A Home-Based Business Online ... practical business ideas, opportunities and solutions for
work-from-home entrepreneur. http://www.ahbbo.com
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Elena Fawkner is editor of A Home-Based Business Online ... practical business ideas, opportunities and solutions for the work-from-home entrepreneur. http://www.ahbbo.com