Top 5 Common Problems Of Couples Working In Business Together - And How To Solve It!

It is no surprise that this pandemic has struck at a peak time for entrepreneurial activity (30% more new businesses registered in the third quarter of 2020 compared to the same period of 2019) and family/husband-and-wife-owned businesses are no exception!⁠ A recent survey by SC Johnson College of Business stated that family-controlled firms now make up 19% of the companies in the Fortune Global 500. Consequently, two-thirds of UK businesses are also family-owned.

For many, working with their spouse is desirable as they get to spend more quality time together, as well as, make time for their family. Despite this, there are also many that struggle to make it work, either from a business or a marriage perspective. This blog will address 5 common issues that a modern-day power couple may struggle with and, present tangible solutions. Every couple is different, so I suggest you read through all the 5 tips and see which resonates most to you:

1. “Our business is not growing as big as we dreamed it to be"

A well-seasoned entrepreneur would know the importance of planning ahead, including that of acknowledging barriers and stumbling blocks along the way. Depending on where you are in your business, there is plenty of advice and resources to move forward. Some people turn to self-learning and some turn to getting a third-party coach involved for higher guidance. Do not be discouraged if your strategies do not work, especially on your first few tries. The best business owners are those that reassess, embrace, and (actively) restructure their current situation.

SOLVE: This post by Entrepreneur.com outlines the 15 strategies you need to nail down so you can scale your business with your spouse. My advice would be to write down these 15 tips and see which ones you and your spouse can perform best, separately. Put two great minds at work, and you will see your numbers go up in no time!

2. "I am close to, or have lost, my passion working in this business with my spouse"

We see this all the time. Entrepreneurs have an ‘aha’ moment and they work tirelessly towards building their business. If all that hard work does not seem to be reaping the desired rewards, then it's time to take a breather and assess why you are losing passion.

First, I want you to acknowledge that couples in business together face greater pressure than normal entrepreneurs as the stakes are higher. Working as a coach for a handful of couple-trepreneurs made me realize that challenges faced by both parties inevitably and exponentially multiply due to greater work-life involvement.

SOLVE: You will need to set aside time to talk about it. Listen to each other, and respond respectfully as though you are talking to a colleague, not the partner that you go home with. Go through important questions such as, “What is your motivation for this business?” Is it merely a gap you are trying to fill for your spouse’s venture? Is it a long-time dream for both of you? Open up, realign your focus, and see which strategies can bring that spark back to move your business ahead.

3. "We don’t see eye to eye with our business goals"

The idea of a business partner is to have someone support and compliment you so you can run a business to its full potential. A lack of direction or synchronization to execute this is a big drawback and will ultimately lead you down a spiral of disappointments.

SOLVE: Address this as soon as possible. Create a written timeline and to-do list for your business agendas (digitally or on paper). I would recommend using a shared spreadsheet to track all numbers that are important to your business. There are various project management systems out there like Trello or Asana which can help you and your team communicate, delegate, and share ideas better. Set up non-negotiable meeting times to build that accountability, fulfill the tasks and report back the progress. Being a couple in business should not be an excuse for you or your partner to slack and rely on that casual relationship. Business means business.

4. "We bring both work and marriage in the bed and wherever we go"

If you spend a lot of time with the love of your life, then congratulations! Not many have the privilege due to work or other commitments. However, if you spend too much time with your partner as a business partner, that can be draining to your personal wellbeing, as well as, your relationship and business.

SOLVE: Clear work-home boundaries, or even ‘me-time’ boundaries, may be hard to establish (especially if you work from home) but is a very essential part of this unique situation. Develop time-stamped boundaries. As a rule, my husband and I ban any work discussion at the dinner table and in the bedroom. Another example is from our team member Brender Benson who works closely with her husband. She said, “[Me and my husband] have agreed to specific work hours, share recreational activities, time with families and friends, and we at least have one meal together. We enable each other to schedule personal time alone for personal growth, meditation and relaxation”.

If you find yourselves having a hard time untangling work problems from home and vice versa, it might be a good idea to discuss boundaries with each other and add this to your spreadsheet or management system too, so you won’t forget! Additionally, give yourself a much deserved ‘time-off’ from both your spouse and business. Find activities that YOU enjoy and block out time to do it!

5. "My partner and I find it hard to delegate new roles for our business"

Having an outsourcing or delegation problem is a positive problem, as this means your business is growing and you need to offload some tasks to focus on your 'zone of genius.’ As a couple, giving the reigns of your business to someone new is just as hard as letting go of a newborn. You birthed it and the last thing you want is for an outsider to ruin your precious creation - I totally understand.

SOLVE: I want you to understand that delegation does not mean you are giving up control. You and your spouse should think of this as an investment. To get to a higher level in your business, take time to properly communicate, train, and be clear on what you want your employees to do for you. Choose the right people to onboard. This means making sure they are skilled enough and they believe in your business as much as you do. Develop a good relationship with them so that all concerns and miscommunication are brought up when the delegation takes place. Make the team feel like family, instead of a hierarchy. It is important for your team to be accountable for their tasks and this is hard to do if you do not communicate with them regularly.

Are you ready to take action and implement my tangible advice? Connect with me on Facebook and Instagram for more tips.

About the author, Sheles Wallace

Sheles is an award-winning business coach who gets results for her clients.
For over 15 years, she has helped business owners achieve their goals and
take their businesses to the next level. If you're ready to take the next
step in your business evolution and go from an owner who wears all hats to
creating a commercial, profitable enterprise that runs without you, find out

more here: https://meetings.hubspot.com/sheles-wallace