For newlyweds or married couples, having a spouse with a business idea or owning a business presents a valuable opportunity to strengthen their bond. The excitement of building a life together with your spouse while nurturing a business can be rewarding and overwhelming. Sharing ideas and offering support can greatly enhance mutual understanding and appreciation of each other’s thought processes.

My name is James Scales, owner of Creativescale Designs. My wife has been incredibly supportive of this business venture. We frequently exchange ideas regarding the business, and she contributes in any way she can. Supporting your spouse’s business endeavors can significantly improve your relationship.

Did you know that businesses with two or more owners have a higher survival rate compared to single-owner businesses?

It’s true! The collaborative effort often leads to better decision-making and resilience. 66% of small business owners cite their spouse as their most trusted advisor, proving that having your partner involved can be incredibly beneficial.

Moreover, family-owned businesses have a 70% chance of surviving from the first to the second generation when the next generation is prepared to take over. This demonstrates the power of family unity and shared vision in business success.

Here’s how to find balance and ensure your marriage and business thrive.

1. Communicate Openly: Open communication is the cornerstone of any successful relationship, especially when balancing marriage and business ownership. Regularly discuss your business goals and schedules with your spouse. This ensures that both of you understand each other’s needs and commitments. Whether it’s setting aside time each week for check-in or discussing upcoming business events, keeping an open line of communication helps prevent misunderstandings and fosters a supportive environment.

2. Prioritize Quality Time: Amid the hustle and bustle of running a business, it’s crucial to carve out dedicated time for your spouse. This could be in the form of date nights, weekend getaways, or simply unplugged evenings at home. Quality time strengthens your relationship and serves as a reminder of why you embarked on this journey together. Plan these moments and treat them with the same importance as a business meeting. This intentional effort will help keep your bond strong.

3. Involve Your Partner: Involving your spouse in your business can create a deeper sense of partnership. Whether it’s brainstorming ideas, attending events together, or seeking their input on decisions, involving them fosters mutual support and understanding. This doesn’t mean they need to be involved in every aspect, but showing that you value their opinion and support can make a significant difference.

4. Balance Work and Life: Striving for a work-life balance is essential. Set boundaries to avoid letting business issues infringe on your time, and vice versa. This might mean setting specific work hours and sticking to them, or creating a physical space at home dedicated solely to business activities. Having these boundaries helps you transition between your roles as a business owner and a spouse, ensuring neither is neglected.

To sum it all up, balancing marriage and business ownership is no small feat, but it’s achievable with the right strategies. Open communication, prioritizing quality time, involving your partner, and maintaining clear boundaries are key to nurturing your marriage and business. By taking these steps, you can create a harmonious and fulfilling life together, ensuring that both your personal and professional endeavors thrive.

References:

Family Firm Institute. (2019). Global Data Points. https://www.ffi.org/page/globaldatapoints

National Small Business Association. (2021). 2021 Small Business Taxation Survey. https://www.nsba.biz/wp-content/uploads/2021/04/2021-Small-Business-Taxation-Survey.pdf

U.S. Bureau of Labor Statistics. (2022). Entrepreneurship and the U.S. Economy. https://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm