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In Love and In Business
Why starting a business as a couple could be a minefield or a gold mine.
Some couples would never in their wildest dreams want to own a business together. Others might think the idea is a dream come true.
At a time when the economy is shaky and you may not want to depend on someone else for your livelihood, starting a business together could be an attractive alternative. If you have even the slightest interest, I’m going to discuss the relationship side, not the business side, of owning a business as a couple. I’ll lay it all out for you: Why working together could be a minefield or a gold mine.
What makes me such an expert? My wife Sharon and I started and ran a service business together. We left our professional careers in our mid-fifties, relocated from the northeast to the southeast, and opened a mobile dog grooming business. Sharon was the groomer and I handled the marketing and financial details. Little did I know I would also have to service the grooming van!
We built the business from scratch and ran it for seven years. We made a profit from the business every year and then we sold it. We could have kept going — we even thought about franchising — but we wanted to slow down and transition to a less work/more play phase of our lives.
