
Co-founders with a longstanding personal bond have a better chance of building a successful company than those who don’t share, at least, friendship. Of course, there’s no one who knows you better, and with both partners having flexible schedules, there’s more time for the family! But with any business founded by two people, there will be several bumps in the road.
Who is truly the “boss”
A power struggle that often happens at home, will now become more literal. Establish your roles as early on as possible! This way, you’re less likely to argue – be it at home or in the office. Write job descriptions for yourselves and set clear expectations about who would tackle which jobs. And the more you separate your roles, the more you will learn to respect the skill-set your spouse brings to the table. Indeed, as you decide the direction of your business, it’s good to have an idea of what each person is good at and how to maximise the potential of the skill-sets that each can offer. Although different attitudes to work can sometimes throw a spanner in the works, a range of styles could actually benefit your business.Business vs personal time
All your financial eggs in one basket
Always make sure that you have an emergency fund. Why? Cash flow tends to be the hardest challenge for new businesses. Because your salaries will be coming from one main source of income, it might be best to be less risk-averse – take it slow to prevent debt.Share this story