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Starting a Business with a Family Member: The Good, the Bad, and the Ugly
Natascha Turner, a 47-year-old entrepreneur, started her own marketing agency and employed her husband, who was struggling to find stability in his career. While the decision has its perks, such as the ability to work remotely from Spain, it’s not without its challenges.
According to Turner, “Working with your partner is no walk in the park. It’s juggling spreadsheets with side-eye and trying not to kill each other over emails.” The couple has had to set boundaries to maintain a healthy work-life balance, and Turner has learned to navigate her role as a leader and a wife.
“Women don’t often talk about how hard it is to lead with strength without feeling like we’re losing a piece of our femininity,” Turner notes. However, she emphasizes the importance of being assertive and making tough decisions in the workplace.
Benefits and Challenges of Employing a Family Member
- Flexibility and autonomy: Employing a family member can provide an opportunity to work together and build a business that is tailored to your needs.
- Increased motivation: Having a family member involved in the business can create a sense of accountability and motivation.
- Conflict and stress: However, working with a family member can also lead to conflict and stress, particularly if there are differing opinions or expectations.
- Designating work hours: The couple has established specific work hours to avoid overworking and to ensure that they have time for personal activities.
- Scheduling time together: They schedule regular time together to maintain their relationship and to discuss non-work-related topics.
- Avoiding work conversations at home: Turner and her husband have agreed to avoid discussing work-related topics at home to maintain a healthy separation between work and personal life.
Turner notes that “the hardest part is balancing my role as a leader with my role as a wife.” She emphasizes the importance of setting boundaries and communicating effectively to avoid conflicts.
Setting Boundaries and Communicating Effectively
Turner and her husband have established a few key boundaries to maintain a healthy work-life balance:
By setting clear boundaries and communicating effectively, Turner and her husband have been able to maintain a healthy work-life balance and build a successful business together.
Overcoming Challenges and Building a Stronger Relationship
Turner emphasizes the importance of communication and empathy in building a stronger relationship with a family member who is also a business partner.
“We’ve learned how to talk about politics, and what not to talk about — and we agree about almost everything else,” Turner notes, referencing her own experience with her husband.
According to Turner, “civility in political disputes” can be cultivated by following a few key strategies:
- Do not raise your voice: Turner emphasizes the importance of maintaining a calm and respectful tone when discussing politics with a family member.
- Friends don’t let friends drink and discuss politics: Turner notes that avoiding discussions of politics when under the influence can help to prevent conflicts.
- Identifying the root cause of the conflict: Turner notes that it’s essential to identify the root cause of the conflict and to address it directly.
- Communicating effectively: Turner emphasizes the importance of communicating effectively and respectfully, even in the face of conflict.
- Seeking outside help: If conflicts persist, Turner notes that seeking outside help from a mediator or counselor can be beneficial in resolving the issue.
By following these strategies and maintaining open and honest communication, Turner and her husband have been able to build a stronger relationship and overcome challenges in their business partnership.
Overcoming Conflict and Building a Stronger Relationship
Turner notes that “conflict and stress” can arise when working with a family member, particularly if there are differing opinions or expectations.
However, she emphasizes the importance of communicating effectively and working together to resolve conflicts:
By following these strategies and maintaining open and honest communication, Turner and her husband have been able to overcome conflicts and build a stronger relationship.
Real-World Applications and Examples
The challenges and benefits of employing a family member in a business can be seen in real-world applications and examples:
For instance, a study by the Small Business Administration found that:
- 46% of family-owned businesses have at least one family member involved in the business.
- 75% of family-owned businesses report that family involvement is crucial to their success.
- 60% of small business owners reported that family members were involved in the business.
- 70% of small business owners reported that family involvement was beneficial to the business.
Similarly, a survey by the National Federation of Independent Business found that:
These statistics demonstrate the importance of family involvement in small businesses and the challenges that can arise when working with family members.
By understanding these challenges and benefits, business owners can better navigate the complexities of working with family members and build a stronger, more successful business.
Conclusion
The Unspoken Trade-off: Why Starting a Business with Your Partner Can Lead to Arguments
In the realm of entrepreneurship, the pursuit of success often comes with a steep price. For many, the thrill of building a business and creating a life-changing career is tempered by the inevitable challenges of partnership. The article “I Started My Own Business and Employ My Husband; It Leads to Arguments” sheds light on the often-unspoken trade-offs that come with merging two households, two businesses, and two lives. The main takeaway is that starting a business with your partner can be a double-edged sword, bringing with it both immense rewards and painful arguments.
On one hand, having a business with your partner can be a potent catalyst for growth, innovation, and financial security. The shared risk and rewards can foster a deeper emotional bond, as partners learn to navigate the ebbs and flows of business life together. For example, a joint venture in e-commerce can lead to a more stable and secure financial future for both partners. On the other hand, the constant balancing act between work and family life can be suffocating, leading to unnecessary stress, burnout, and resentment. As the article notes, “the constant stress of balancing work and family responsibilities can be overwhelming, leading to arguments and feelings of frustration.”