Are you missing a HUGE opportunity?

By Edward Plant

So I get it.

Not all couples run the one business together.

There are many couples out there who individually run their own businesses. That is, husband runs one, wife runs one (or in the case of unmarried couples, each partner each has their own business).

Through our work inside the Institute for Couples in Business, we are well aware of this demographic inside the already narrow demographic of couples in business together.

I fully recognise all of you amazing couples who are running a business each, a household and a relationship. WOW.

But I also want to flag with you a HUGE opportunity you are missing.

I was having a coffee recently with Shane. (Hi Shane, if you’re reading this). Shane runs an awesome company that he has franchised and is growing throughout Australia with plans for international expansion. His wife also runs a business.

In talking to Shane I realised he had no idea about the problem that he and his wife were creating for themselves and the inadvertent path to heartbreak they could be walking down.

You see what happens when a couple has two separate businesses is that they treat them like two separate businesses. This means husband grows and progresses his business. Wife does the same. At some stage, whether by decision or by default, someone ends up taking the brunt of the ‘family’ duties (kids, cooking, shopping, cleaning etc).

Does this all make sense? Yeah. Seems pretty logical really.

But for anyone in this position, you are missing a HUGE OPPORTUNITY and could quite literally be setting yourselves up for problems.

The reason is simple.

By treating your businesses as separate, with very little responsibility in the other business, you are not really focusing on the main reason you are both in business. And if you aren’t focusing on the REAL end game, you probably won’t get there.

The REAL end game I’m talking about, for most of the hundreds of couples in business we talk to on a regular basis, is some variation of this: “Build business to create amazing lifestyle for our family.”

So when you each run a business of your own and are only focused on your own business creating wealth for your family, you have a problem.

There are a number of missed opportunities in this scenario…

  1. If both of your businesses aren’t aligned with your family’s number one outcome, you will miss things, you will work too hard and not achieve the outcome you want. You end up focusing on the wrong thing.
  2. You don’t harness your partner’s genius. That is they may be amazing at something and your business doesn’t benefit from it and vice versa.
  3. You both end up wearing all the hats. Even the shitty ones. You end up with two hats of everything. It’s draining.

So if you are a couple in business with two separate businesses, please take a moment and check in whether your individual business goals are moving your family towards the outcome you both want, or further away from it. Contact us today, we provide online training for couples in business across Australia.

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About the Author

Edward is the Co-Founder and Lead Strategist at the Institute for Couples in Business. When he’s not nutting out smart strategies you’ll find him hanging out with wife and business partner Rebecca and his sons Samuel, 4, and Charles, 2. For the past seven years Ed has been working with business owners to double profits, halve hours and build self-sustaining business that thrives with or without you. Ed is also author of #1 best-seller Lead-The-Ship and a sought-after guest speaker who often gets mistaken for Prince Harry.