Being Married Makes You a Better Entrepreneur -- Here's Why
Want to earn more and be happier? Start with a healthy marriage.
If you've been struggling to be productive at work, been challenged to be the best leader possible and want more growth in your business, maybe it's time you look at your love life.
In our pursuit to grow our business, it's all too easy to forget about the importance of our intimate relationships. By focusing so much on work, we can quickly get caught up in tracking metrics and putting in more hours, and think that if we just work more, we'll get better results -- but that's not always the case. In fact, various studies, show that statistically married men make more money, work harder and even live longer. Similarly, various studies cited by WebMD report that women in healthy marriages have better heart health, are less likely to get breast cancer, have diminished anxiety and experience a better social life. As an entrepreneur, these are all key elements to assuring you perform better, are happier and live long enough to really enjoy the fruits of your labor.
If you're wanting your business to improve, it may seem counter-intuitive, but your success could very well be found in fostering a healthy relationship. A happy marriage could be the thing that changes your business and personal life for the better.
A healthy relationship can impact your life in a myriad of ways, ways that will help you be happier, more upbeat, and more motivated at work and in the rest of your life. In fact, research at Columbia University found over 10 different ways that marriage positively impacts couples. Researchers noted married people have someone to talk to (stress reduction), have someone who encourages them to do their best (life coach), and have someone who carries the burden with them (decrease of loneliness and feeling part of a team). Reading this list is kind of like reading a sales pitch on why I should hire a life coach or join a mastermind group, but in my opinion, being married has more benefits.
If you've ever considered joining an expensive mastermind group, maybe this article will convince you to save your money and instead focus on fostering more love and intimacy with your partner.
Being married helps you earn more money.
The world of an entrepreneur can be lonely -- but being married makes it less solitary. Not only does marriage give you a friend and a companion, but research cited in the Journal of Human Resources also found that married men earn more and are better compensated than their single counterparts. Similarly, income tax professionals report that married couples have more savings, better tax benefits, and are more financially protected from any socioeconomic upsets and burdens.
The statistics are clear: Marriage and income are strongly correlated. According to the research, one of the biggest reasons why married people are more productive and make money is because they have a partner pushing them. We can tell ourselves we'll do something and not do it, but when we commit to someone else -- we feel obligated.
In my personal life, I've noticed since getting married my productivity has increased, my commitment to greatness has become greater and, in turn, my wealth has increased.
On another note, I've become more confident in asking for better pay because it matters more now. Before marriage, my salary just supported me; now the game is different, my negotiations aren't just about little old me -- they're about my family. This means I have more purpose in my work, my prices and the commitment to performing with excellence.
Being married helps you make smarter decisions.
If you've chosen your partner wisely, it's guaranteed that you will be all the wiser for it. In the now iconic book, The Millionaire Next Door, author and researcher Thomas Stanley reports that one of the critical factors of self-made millionaires is their intelligent choice in picking spouses who are smart with money.
In my personal life, I am not afraid to admit I am bad with money. I am not a degenerate gambler, but I am also not the best at making long-term financial decisions. That's why, in my household, my wife manages the money.
When I do things alone, I get only my insights and wisdom. When I do them with my partner, I get her genius, I double my output and increase my insights. If you want to increase your strength, the best move you can make is to involve other people who are smarter than you, and even let them just take over the tasks that you suck at doing.
Being married gives you another set of eyes.
An old boss of mine used to say, "Cut once, measure twice." As a roofer and handyman, I learned that if I didn't measure a few times, it could cost my boss or client thousands of extra dollars per job. In my business, I've learned the same to be true. It's best to double check my work, scan my emails before sending, re-read contracts and only sign on crucial decisions once I've thoroughly checked everything. While this is sound advice, I've learned an even better way to ensure I make fewer mistakes -- don't just measure twice, get an extra set of eyes.
Since I'm human and prone to excitement and impulsiveness, I've learned that when I have my partner double-check my work, I make smarter decisions. If I had to make all these important choices alone, I'm certain I would have signed off on some very poor business decisions.
As an entrepreneur, I've learned that success isn't always a straight path. In the same vein, I've also learned that everything impacts everything else and my marriage, while not directly tied to my business, has been the game changer that made me a wealthier and happier man.
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