5 Steps to Building a Successful Business as a Couple Starting a successful business can be a lot more fun when you're doing it with the person you love, but this is not an easy thing to do.
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In all relationships, there are obstacles that can make or break you. All couples have their ups and downs, but you need to learn when to give and when to take to be successful in a relationship. When it comes to building a business with your partner, doing so can be even harder.
Many of us want our partners to be our main person not just in our lives, but also in business. Let's face it – they're the person you trust the most. However, to have a successful business together, you need to make sure that you do a few things first.
1. Ensure you have a healthy relationship before ever starting a company together.
If you can't be successful at keeping each other happy as life partners, adding another huge layer to that relationship will add a lot more stress. The demands that come with owning a business together will test your relationship even more than you ever thought possible. Hence, it is important to have a solid foundation that can withstand any stressors.
2. Set goals and establish your focus.
After you determine that you can add this additional layer to your relationship, it is essential to then focus on your shared goals and expectations. The largest constraint will be your time: You will need to know how to focus your time to be efficient and still maintain a balance to preserve your relationship so you don't just end up as business partners. This will be one of your largest hurdles to overcome, and you need to understand that success is only built from the sacrifice of your time. Most couples will never be successful at a shared venture because they will not be able to maintain the focus and put time into both their relationship and their business.
To do this, sit down and set your goals together. Everyone has their version of what "successful" means for them, and as partners, it's important to communicate how each of you defines what they mean, and then set your goals together with those shared definitions. Then, once you've established both your shared and individual goals, understand you will work long hours, work on the weekends, pass up happy hours and skip partying in your growth stage. You must give your attention to your goals, your partner and your vision.
But it is possible.
3. Find your passion and develop your vision.
Once you have set your goals and expectations for your relationship and you determine the level of success you want to achieve together, you must then focus on what business you will be able to attain success in. When developing your company idea, you need to focus on what you're good at or what you are passionate about.
Don't be scared by previous failures. Instead, think about what you have learned from these and apply these lessons to your current venture. We all have heard that you will fail many times before you find success, and it is completely true. If you understand your partner's strengths, have a cohesive vision and respect each other's roles, you will be able to grow your business together.
4. Take your first step.
While this may seem obvious, it's definitely not an easy step. After you have made your goals and arrived at a shared understanding of your roles that allows you each to focus on your strengths efficiently, you are ready to begin your business. Half the battle is pulling the trigger and following through with it.
Few companies will generate seven figures in their first year of profit. You're going to have to grind, hold each other accountable, and when one partner is burned out, the other is going to have to motivate and empower them to push forward. You will have your arguments and have different points of view at times. The key is perspective: Take time to see things from your partner's view. We all take in information differently and respond accordingly.
5. Celebrate your wins.
Lastly, take the time to celebrate your wins, such as taking trips together when time allows to show appreciation towards your partner not just in business, but romantically. Maintaining the spark in your romantic relationship is every bit as essential as maintaining your role in the business.
In the end, know that it is your choice whether you and your partner will succeed. You have to want it together and put in the time, effort and sacrifice for many years to truly become successful.
Not only can you hit your business goals as a family, but you can inspire other couples to do the same! That's when you can be called a true power couple.