What you need to know before starting a business with your spouse

gloria mari

April 6, 2018 12:39 PM

Four simple rules.

Starting a business with your spouse can be daunting. There are certain things to consider if you want to increase your chances of success.

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Since being in an intimate relationship with the person you're running a business with can provide a lot of stress, there are rules to be followed to ease how things are done.

According to Forbes, this is what you need to do when starting a business with your spouse.

1. Have an emergency fund in place

Finances are among the lading causes of divorce among married couples. Cash flow for new business can be a bit difficult. So to cushion any losses, ensure that you have a reserve of cash.

2. Understand your personalities

Acknowledge the strengths between the two of you so as to divide tasks based upon your strengths.

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3. Engage in separate hobbies

On your off days try to spend some time apart focusing on your interests.

4. Don't blow smoke up each other's a**es

Because you love each other, you may end up overpraising a poor decision or in effect enabling poor decision-making, inefficiency or other poor business practices.

Concurrently, don't be too hard on your spouse should anything go wrong. Don't be quick to judge, blame and disparage.