Society has long looked down upon combining one’s personal and professional lives as the term “startup co-founder” evokes images of young, single, (primarily) male hackers working furiously out of their college dorm rooms, slurping cup-o-noodles. Married couples-worse, married with children-don’t usually enter the equation in the public headspace.
The Fundamental misconception has always been that your love life may be a significant distraction and should only be limited to after-work hours, no matter how absurd that notion may be. But what if you’re among the brave few who are prepared to work together with your real-life partner to succeed in the ruthless competitive industry? You could frequently wonder if it is a sure-line formula for failure. Will he or she allow you to achieve your objectives or will you err on the side of extreme risk, putting much more than just your company in danger? To gain a bird’s eye view of what to think about before making the plunge, continue reading.
What Are the Benefits?
1. The seriousness of commitments-
If you and your partner have a joint enterprise, one unattended leak in the boat will cause you both to fall into the extraordinary, terrible sea and drown. You’re probably more committed and responsible to your business, clients, and staff because the stakes are higher. They are always someone you can depend on, even if you’re having one of “those days”.
2. It’s simpler to settle disputes–
In the world of business, managing relationships is the largest challenge since they are constantly under the stress and pressure of daily life. What’s best? Since you and your wife’s husband already have a high degree of familiarity and trust, your wife/husband, who is now working with you, genuinely has the empathy to comprehend your problems. Even if you disagree, you’ll probably put your differences aside for the benefit of your company. Even better, your staff has the option to speak with and confide in either of you in the event of personal difficulties.
1. Different points of view-
A diverse viewpoint is typically beneficial since it enables you to recognise potential problems that you would not have otherwise noticed. But if you can’t successfully communicate and set the record straight in a timely manner, issues can fester inside and cause havoc. Lack of respect for one another and complete avoidance of the other might lead to more serious problems in your personal life.
2. Lack of a work-life balance-
Pillow chat will involve the two of you talking about due dates and resolving problems that you will always encounter. You and your partner will definitely end up working on the weekends as well unless you set some strict boundaries at home. You’ll also need to give birthday and anniversary celebrations and extended family vacations some thought. When one of you doesn’t show up, it can be a serious problem because your partner will likely end up doing the majority of the job.
Shared experiences are at the root of a couple of startups:
Startups founded by couples are not as counter-intuitive as would first appear. People who were personally affected by a situation tend to form the most prosperous enterprises. As it turns out, there are no individual problems for couples-one spouses’ problem inevitably becomes the other spouse’s concern.
Emotional empathy, trust, and role clarity are capital for startups:
Office romances are often frowned upon; some venture capitalists have said unequivocally that they will not invest in teams with a strong family foundation. According to popular belief, emotional involvement clouds one’s judgment in a professional context. Employees in the corporate sector could experience this, but startups are the complete opposite. A rollercoaster ride of emotions can be compared to the process of building a startup. The constant ebb and flow of highs and lows is something that all business owners can attest to. Founders who can consistently keep an even key are the most successful. As a result, emotional empathy is highly prized in such an environment.
Trust and commitment are heightened in married startup scenarios:
Too many firms fail even before they launch because the co-founders are not equally dedicated or because trust has been lost. When co-founders are married, there is much more at risk than just the viability of the company. First off, getting married frequently indicates that you have completed college and have other financial obligations. Secondly, working against your co-founder is equivalent to working against yourself, not to mention an attempt at marital suicide. The major strength of married co-founders is the commitment to the startup because both of us know what is at stake and are in the same boat.
In married startups, the definition of each role is clear:
Think of Steve Jobs and Steve Wozniak as examples of successful co-founders with complementary skill sets and clear roles. Each co-founder should be providing value to whatever they are doing because startups, especially those in the early stages, don’t have spare resources to waste. The likelihood of labor being duplicated and resources being squandered or underutilized increases if roles are not clearly defined and there are two or more co-founders performing the same duties. In the case of married co-founders, each partner is fully aware of the strengths and limitations of the other. Being married and knowing each other’s strengths and weaknesses help establish role clarity early on to maximise available resources.
Every startup entrepreneur should have good conflict management skills:
Co-founders heads about everything, from major aspects like developmental priorities and market segmentation to minutia like the color of the business cards. Married co-founders conflicts typically go one of two ways, either your marriage has taught you how to resolve disputes among yourselves, or business disputes might turn personal.
Set aside time to try to keep work and family separate:
It’s simple to lose sight of everything else while starting a business because it consumes so much time. When non-married startup founders return home to their families, they are abruptly brought back to reality, but married co-founders frequently lack this opportunity. Definitely make time for your family, especially for the kids. Adults can postpone emotional fulfillment but children cannot.
When a married pair collaborates toward a common objective, there are countless opportunities and no limits. Use each other’s strengths, and try to strike a balance between work and home life-though that’s easier said than done.
Co-founder couples rave about the experience of running a business with their spouse. It’s no doubt these companies are developing proprietary products, running winning marketing strategies, and generating big rounds and exits.
The dynamic of married co-founders seems to be excellent for the company, but only time will tell if it’s also terrific for marriages.