... and 6 reasons why you PROBABLY shouldn't.
Considering the fact that we live in the age of small businesses and start-ups, it’s no wonder that you and the person you love are thinking about starting your own business. The combination of your two areas of expertise can be put to a good use, and success might be waiting for you just around the corner.
However, it’s not just about whether you’re a pro or not, because some people in relationships simply AREN'T built to work together — and that isn’t something you need to be ashamed off. The only important thing is to talk it out and see whether you’re compatible business partners or not.
Here are some 6 pros and 6 cons to help you figure out if starting a business with your partner is a GOOD idea:
1. PRO: You’ll see a lot more of each other.
Both of you having a career in different workplaces directly affects how much time you spend with each other. When you come back home from work you’re usually bored or exhausted which only leads to not spending quality time with your partner, while you should be doing otherwise.
Having a business of your own will enable you to get ready for work together, drink your morning cup of coffee with each other and have lunch breaks.
2. CON: You’ll see a lot more of each other.
This is simultaneously a pro and a con. Transferring from barely seeing each other to spending a lot of time together might be too much for you to handle.
If you’re two independent people who like some alone-time, perhaps you shouldn’t get into building a business together too lightly.
3. PRO: Both of you will have a clear insight into finance and investments.
No matter how much you talk to each other, your partner's day at work can’t be completely described — there are so many big and small events that occur during work hours that all contribute to the overall feeling.
Having a business together puts an end to this — you’ll both be completely aware of everything that’s going on and you’ll have a clear insight of what to expect from your finances in the future.
4. CON: The chances are you won’t have the same opinion about business moves.
For example, selecting a business process management software may not seem like a big deal in the beginning and you might be able to put a pin in it for the time being. However, as the time goes by, you’ll need to make a decision that will affect the future of your business and having completely opposites opinions will make it very hard for you two to make smart business moves.
5. PRO: You can take romantic breaks and devote a couple of minutes to each other.
Feeling overwhelmed because of the amount of work will be so much easier to handle when you have your significant other right by your side to encourage and guide you. Being with them even for a couple of minutes during hectic business hours will be an amazing stress-relief method.
6. CON: It’s practically impossible not to bring your business home.
Bringing romance to the office is pretty great, but there are two sides to this coin — how can you avoid bringing your work home when your partner is simultaneously your business partner? This isn’t a bad thing at all when you two celebrate your accomplishments, but you shouldn’t expect it to be that fun when you’re both stressed out — it’s a recipe for an argument.
7. PRO: Setting your own work hours is one of the greatest advantages.
The most amazing thing about being your own bosses is managing your own business hours. Depending on the amount of work, you two can easily make an arrangement when to come to work and when to go home, as well.
8. CON: You might not be able to have the same days off.
Managing one business day like this will be a piece of cake, but you should consider the next disadvantage in your business equation — if you want to take a longer vacation together, who’s going to be in charge if both bosses leave?
9. PRO: Sparks will easily light up when you see your partner in action.
Hearing about your partner’s accomplishments is a great reminder of how capable they are and why you fell in love with them in the first place, but seeing them in action will definitely get you going.
It’s really amazing to see your loved one doing great things.
10. CON: Your partner achievements might make you feel incompetent.
The bottom line is that we’re all people, and people are vain. If your partner has an excellent performance while you’re fighting to maintain an average one, the chances are it will get to you in time and you’ll feel intimidated and bad about yourself.
11. PRO: You are each other’s investment.
Having your life partner as your business partner will straighten up that bond you two have. This will create a necessity to have each other’s back not only when it comes to household matters, but to work related ones as well.
Have no doubt that you’ll learn to appreciate each other a lot more.
12. CON: It’s way too easy to point fingers in case of a failure.
I know this situation sounds really bad, but it’s better to expect it than to let it sneak up on you and allow it to ruin your marriage. Considering the fact that you’ll both be highly frustrated if your business fails, you’ll have no one but each other to blame.
You should treat this pro and con list as if it were a test of whether or not you should become business partners. If you have a stable marriage and future aspirations to be similar to the pro examples, then it’s a definitive yes for you two! Otherwise, you may want to get things out in the open and settle them before you start working together or even consider it an option.