Entrepreneurship has recently been on the rise with more people turning to the entrepreneurial lifestyle rather than staying in their regular jobs. Starting a business can offer a lot of freedom but not without stress, long days and it’s share of hardships. And being in a relationship, especially if your life partner is also your business partner, can add additional complications. However, if done right where both partners are in agreement to the terms this business / life relationship then it can turnout to be an adventure of a lifetime.
So, what defines an entrepreneurial couple? In the book “Entrepreneurial couples” by Kathy Marshack she divides these couples into three different categories;
- Solo Entrepreneur with a supportive spouse: One person owns and manages their own business. Their partner/spouse is supportive to the business or is employed outside the business.
- Dual Entrepreneurs: Both partners are self-employed. Each partner owns and manages a separate business.
- Copreneurs: Both partners are self employed. Both partners own and manage their joint business. Copreneurs differ from the other two types because they truly have to balance and make things work in overlapping domains of love and work within a family dynamic.
You and your partner may fall into one of these categories naturally or you may still be discussing entrepreneurship with your partner but you have yet to decide which route you both want to take.
If you are still deciding whether or not you want to go into business together you should ask yourselves these questions;
-Who started the business or who wants to predominantly run the business?
-What role would you each like to play?
-Who will take care of life at home? Will duties be distributed evenly?
-Are you both passionate about the business or is it predominantly only one of you who is?
-Do you have different ideas on how a business should be run?
-Will you be able to a supportive spouse when the need arises?
You and your partner should answer these questions separately and then come together to evaluate your answers. Were they similar or were they quite different? Ask yourselves these questions to help you in determining whether going into business with your partner is for you. In the end whatever entrepreneurial couple category the two of you belong to be sure to put your relationship first and make it a priority and then the business will fall into place. Good luck conspiring couples!