Tuesday, January 14, 2014
SME Masterclass: How to (successfully) go into business with your husband or wife
Dunn says: "Clive and I tried to have a bit of geographic distance between us because I think you need space and your own freedom. We used to get disproportionately annoyed with each other waiting for each other to go to work or to leave the office so the one rule was had, which was slightly embarrassing but which we always stuck to, was we had separate cars and two car parking spaces so we could come and go as we needed."
5. Get your priorities right. Go into business together because you are both passionate about doing that particular business - whether they be selling houses, making jam or creating software - and not because you want to spend more time together. Starting a business together is not like learning to play golf together; it is hard work and risky and all-consuming and while you may well be in physical close proximity to each other, it will not be quality time.
6. Give yourself the freedom to have different working styles. Just because you are married to each other doesn't mean you have to work in the same way. For Dunn and Humby, that meant she attended meetings while he sat in his office and came up with ideas.
Dunn says: "It is very important not to impose on each other a way of working because mine is incredibly different to Clive's. I used to do the people management side so I had a lot of meetings whereas Clive would quite often sit on his own in his office and play Sudoku because that is how he thought about things. I could have got annoyed by that but I never did because when he got a brilliant idea he would work all night on it."
7. Don't make assumptions. In your marriage you probably talk in shorthand code and have an unspoken mutual understanding which means you don't have to say much to know what the other is thinking. But remember that these skills have been built up over many years and may not work in a business environment, especially if you are both new to it. Make your views known in plain English and talk through anything you are not 100% clear about.
8. As far as possible, keep home and work life separate. Don't start talking about work the moment you get home. If you want to talk about work issues then book an appointment with each other in the office and talk about it then.
Finally - If you are planning to have children, talk in advance about who will provide the childcare - one of you? Both of you shared equally? Neither of you - you will get a live-in nanny? And for each scenario, how long for, and what effect will this have on the business? Will one become a sleeping partner for a few years, or will you get someone new in to take over the role? There is no right or wrong answer but don't assume that you will automatically share the same views; it is essential to talk about it in advance.
Source : http://telegraph.feedsportal.com/c/32726/f/564649/s/35ea9e9e/sc/22/l/0L0Stelegraph0O0Cfinance0Cfestival0Eof0Ebusiness0C10A5682890CSME0EMasterclass0EHow0Eto0Esuccessfully0Ego0Einto0Ebusiness0Ewith0Eyour0Ehusband0Eor0Ewife0Bhtml/story01.htm