Archive for the ‘Mompreneurs’ Category

When you are first starting out in business, you will need help.  Good help is especially hard to find when you have very limited resources.  Other than interns, you may be forced to look around your personal network to see if you have any friends or family that can jump in and help you build your new enterprise.  One of the most obvious helpers that may jump out to you is your spouse.  But working with the one you love can be a slippery slope.  If you drive each other crazy with simple household work, it’s probably not a good idea to work together.  There also are those who believe that you should never hire someone you can’t fire. Why? If you fire your spouse you could ruin or severely damage your marriage.

Relationships and certainly marriages are hard work every day without adding the complications and stress of working together in a start-up business.  My husband and I worked together in my first business Quintessence Multimedia for four years—so I have perspective on this subject.

Whether you go it alone or work with your sweetie… it’s a challenge.   One of things that you need to do if you decide to work together is really understand each other’s best skills and work styles. 

I am a morning person, who is a hyper Type-A, task master.  I make lists and mow down the list daily.  My husband is a corporate MBA, six sigma, sales manager, and a procrastinator.  We annoyed each other every day, before we even got to the office.  We drove to the office together, and were late most days because my husband was usually running late.  I found myself sitting in the living room, waiting silently and getting more upset by the minute.  One of the things that really helped us was seeking out mentorship from an older husband and wife team who had an office in our building.  Once they suggested that we drive separate cars to work, that problem was solved. 

One of the critical decisions that need to be made if you are working with your spouse is whether you are going to be equal partners, or if one of you is the boss.  Defining this dynamic upfront – and communicating it – is essential.  There’s a big difference between being a partner and being a key employee.  This especially comes into play when handling disagreements about the business. 

Ladies–this is a big issue for you if you started the business, and your husband later joins the business.  Some men really can’t handle being a key employee, and may assert themselves like they are the boss. 

The long term viability of the business and the marriage are intertwined. Resentment from this dynamic can really spill over into your home life.  When you are personally invested in your business; it’s hard to not take a bad day in your business home with you at night. 

So How Can You Avoid Having Your Work-life Ruin Your Home-life? 

Here’s SmallBizLady’s 10 Rules for Working Well With Your Spouse.

1. Have clearly defined roles at work, and stay in your lanes.
2. Regular date nights (weekly if possible)
3. Drive separate cars
4. Have separate offices (and separate assistants–if you can afford it)
5. Have clearly defined roles at home, too
6. Have regular meetings to air out disagreements
7. Have separate interests outside of the business
8. Make decisions based on what’s best for the business
9. Be accountable to each other (regardless of who get the final say)
10. Seek out other couplepreneurs to get advice and support.

A great husband and wife business owner team, Donna Maria Coles Johnson her husband Darryl Johnson inspired me in part to write this blog post.  They lead the Indie Beauty Network http://www.indiebeauty.com.  I interviewed them last year about being successful couplepreneurs.

Do you have a rule or suggestion for how to work successfully with your spouse?

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For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog www.succeedasyourownboss.com.

Melinda Emerson, known to many as “SmallBizLady,” is a Veteran Entrepreneur, Small Business Coach and Social Media Strategist who hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Her first book Become Your Own Boss in 12 Months is out in March 2010.

My first guest post for Smallbiztrends went live this week.  “Will 2010 Be the Year of Start-Up America?” generated much interest, prompting many people to ask for my opinion about President Obama’s State of the Union Address — and what impact it will have on the nation’s small businesses.

My ears perked up when I heard our President say, “Now the true engine of job creation in the country will always be America’s businesses.  But government can create the conditions necessary for businesses to expand and hire more workers. We should start where most new jobs do—in small businesses, companies that begin when an entrepreneur takes a chance on a dream or a worker decides its time she became her own boss.”

There were five key points made by President Obama that are noteworthy and make me somewhat optimistic that this administration finally understands that supporting America’s small businesses will save the nation’s economy.  I have listed the initiatives in order of what I think will be most helpful.

• Tax credits for one million small businesses that hire new workers and providing wage increases.

Many businesses could be helped by this. The key will be how soon it would take effect.

• Tax incentives for all businesses to invest in new plants and equipment.

I would suggest that this incentive be connected to building energy efficient plants.

• National Export Initiative to help farmers and small businesses increase their exports.

Small businesses need to know how to go global. I need more details on this, but I am excited to think that this program could make a real difference.

• 30 Billion dollars for community banks from the repaid TARP funds.

This is important because previously alternative lenders (CDFIs & CDCs) had about 1.6 Billion dollars to lend.  The challenge that exists with this is two-fold:

1)  Many existing business are no longer credit worthy after nearly two years of struggling there.

2)  No lender wants to fund start-up businesses with no track record or collateral.  So who will qualify to borrow these funds?

• Eliminate the capital gains taxes on small business investment.

Given that 97% of all small businesses in the US generate less than one million in revenue, the capital gains tax relief is really going to help an extremely small number of entrepreneurs.

At the end of his speech President Obama said, “I know there are many Americans who aren’t sure if they still believe we can change or that I can deliver it. We have come through a difficult decade. But a new year has come. A new decade stretches before us. We don’t quit. I don’t quit.”

We’ll Mr. President you had better not quit!  The nation’s 26 million small businesses are counting on you to be change we can believe in.

Having this conversation about a small business economy is so important right now.  Please leave me a comment to share your thoughts on this subject.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #Smallbizchat on Twitter.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.  Melinda’s first book, Become Your Own Boss in 12 months; A Month-By-Month Guide to a Business That Works will be released by Adams Media in March 2010.