7 Tips for the Husband/ Wife Team

So, James and I have decided that my place in the company should expand into a larger role, that of the second shooter. I have always been the assistant (although he does use my shots too) I guess the pressure is no to step up my game. But anyways, I read a post on Me Ra Koh's Blog about working with your spouse. It was so funny and true. Now that I am really getting deep into the business with James taking me on as a partner, I did a little research of my own. And so I found 7 tips for spouses that run a business together. I hope it helps. :)

1. Make sure both partners share a burning passion for the same home business venture. You don't want to invest in widgets and find out later that your husband wanted to open a sports- related Web site.


2. Discuss openly any family obligations that might interfere with business commitments. Decide which is most important to you, your son's baseball game or learning to use a new financial spreadsheet program on your computer.


3. Decide to discuss honestly any problems you encounter. In one case I know of, a wife who believed in purchasing only the best- quality, highest-priced office furniture, for their home office. The budget-conscious husband literally hit the roof when he discovered his wife had spent almost a years budget on what he called "over-priced office doodads."


4. Agree how the profits will be split. Know who is responsible for paying the bills. How much will be invested back into the business?


5. Clearly outline what duties each person will perform daily. This will decrease conflicts considerably and help the work flow smoothly.


6. Treat each other as professionals, while respecting each other's unique contributions to the business.


7. Always remember that your marriage is your first priority in your life, more important than any business issue that might arise.