Business Education

My Spouse and I Opened a Business and it’s Ruining Our Marriage — What should We Do?

Couples often open businesses together because they recognize that two heads are better than one. It not only allows them to be their own bosses but is usually accompanied by the idea that a joint venture will strengthen their interpersonal relationships. After all, running a business together will mean they must be more open and communicative, and therefore it ought to bring them closer together as they work together on their shared dream. But, sometimes couples have very different ideas about how to build and run new businesses and this can easily lead to a lot of conflicts. Fortunately, there are some strategies couples can use if they are experiencing problems in their small businesses.

The Hidden ‘I’ in T-e-a-m

Make no mistake about it, every joint venture depends on individuals. Two or more people have to come together in a meeting of the minds and spirit in order to make it ultimately work. This starts with an individual choice to pool skills, talents, and resources together once this decision is made and forces are joined together, the business should have what it needs to succeed. However, sometimes individuals can’t get out of their own way and that’s when the problems begin.

When things get tough, refer back to your joint goals. Running a business isn’t easy, and when both you and your spouse are involved, that means your livelihood is hanging in the balance of the business you share. Instead of letting this fill you with stress and anxiety, instead, let it fill you with excitement and passion for the work you do. Be a support for each other, so when one of you gets stressed or worried, the other can remind you why you started. —Small Business Trends

In other words, there has to be the right mixture of individualism and teamwork in order to make the relationship work. For example, constantly jocking for power will eventually lead to serious issues. If one spouse tells their employees one thing and the other spouse contradicts that, there’s obviously going to the at least some confusion and conflict. This is why successful businesses have defined roles for everyone involved. Doing so greatly increases communication, productivity, and also expectations.

How Spouses can Successfully Run a Business Together

If you and your spouse are experiencing problems in your business that are affecting your personal relationship, you’re definitely not the first and won’t be the last. The good news is there are steps you can take to reduce or eliminate conflict, such as the following:

Mutually define individual roles. Both of you are responsible for running the business, but that doesn’t mean that both of you should be caring out the same roles. Take some time to talk over and outline your individual roles and responsibilities so there’s no miscommunication or unnecessary redundancy.
Layout and set your expectations. Each of you has an idea of what you want from the other. But unless you communicate that clearly, there’s no way to truly know what you want out of one another. This will take a little trial and error but you can eventually find tune it in this will be a huge help in running the business efficiently.
Leave home at home when you’re at work. There’s a reason that large corporations discourage romantic relationships between colleagues. When you bring your home life to work, you can expect to bring all of those issues into your place of business. Obviously, there’s no good that can come from this, so leave home at home while you’re at work.

What other ways can spouses resolve their problems while running a business together? Please share your thoughts and experiences so others can benefit from your input. Interested in learning more about business? Then just visit Waters Business Consulting Group.

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Hey Entrepreneurs, If You’re Comfortable in Your Role, You’re Probably Doing it Wrong

June 21, 2021 No Comments

Comfort. It’s a wonderful feeling. When we’re comfortable, we feel secure, often content, and better still, in control. But, control is an illusion. Just like the security of a job or a long-established business. That is, until something goes seriously awry. Then, it becomes quite clear security is not forever. Comfort most definitely falls into the same category, but sometimes, for different reasons. So, if you’ve become comfortable in your role, chances are excellent you’re doing it wrong. Here’s why. Comfort Usually Leads to Complacency Isn’t it strange how the mind works? When someone thinks of “comfort,” he or she gets an entirely different feeling than when thinking about “complacency.” Sure, they are two different things. And, this becomes all-too apparent when compared with one another. Unfortunately, it’s at this juncture that reality sets in hard. Making a concerted effort to challenge yourself will inspire you and help prepare your business for the future. As a result, you will be able to lead your company with the confidence that you’re making good decisions — because you are. —Entrepreneur.com Someone who is comfortable is generally complacent. He or she typically doesn’t have any nagging concerns. It’s basically the manifestation of complacency. A point at which one’s guard is so far down, it might as well not exist. This state of mind is a precarious one because it can easily lead to bad outcomes. So, it’s best to be on one’s toes and that’s possible by stepping out of your comfort zone. 4 Big Benefits of Stepping Outside Your Professional Comfort Zone You’ve probably heard this philosophy before — getting out of your comfort zone will be to your advantage. Moreover, it will do so in more than one way. For instance, it will, at the very least, help you to break away from the ordinary. It breaks up routines. So, let’s start with the most obvious benefit. Stepping outside your comfort zone helps you to get away from routines (in other words, a disruption or end to the monotony). If you step outside your comfort zone, you can better reassess your schedule and inject a little (and much-needed) variety. It gives you more creative chances. Breaking away from your comfort zone also gives you the opportunity to indulge in creativity. That can be beneficial in a number of ways. For example, the ability to think unconventionally and entertain solutions to difficult and/or stubborn problems. It helps you effectively deal with stress. Another big advantage to stepping outside your comfort zone is that it helps teach you to more effectively deal with stressful situations. This lessens panic in uncertain times and that’s a very important trait to learn. It provides opportunities to build confidence. Last but certainly not least, you’ll feel more confident when you successfully step away from your comfort zone. This, especially if you return to a normal routine thereafter. In a short period of time, you can again step away to build even more confidence. What other suggestions do you have? Please take a brief moment to share your thoughts and experiences so others can benefit from your unique perspective! (You may never know who you’ll help out.) Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Protect a Business Against Vandalism

May 22, 2020 No Comments

Vandalism protection isn’t something most business owners think about. After all, it’s a rare occurrence. But, vandalism can and does happen as we’ve seen or experienced with the recent protests and riots. When it becomes a reality, too many business owners are unprepared. This is due to the fact that the majority of businesses are focused and prepared for theft — not defacing, smashing, and wrecking. So, read on to learn more about how to protect a business against vandalism. The Truth about Vandalism Sure, today’s headlines probably have you thinking about the possibility more than ever. But, the truth be told, vandalism — to just about any degree — is possible at any given moment. At the very least, it could be a total accident. (Like those weird news stories about a driver who accidentally hit the accelerator instead of the brake. Or, the vehicle involved in a collision that hurled out of control and smashed into a building.) When considering how to prevent vandalism, home and business owners often despair. The crime can be committed in an instant, yet it can have an enormous financial impact. It can be carried out by rivals or total strangers. It can occur in the middle of the working day, or the dead of night. You need to know how to deter vandalism— [and] what options are available —ADT Commercial Security The point obviously being, is that it’s far better to be prepared than it is to get caught completely off guard. The latter will cost far more time and money, stress, and more negatives. However, being proactive can help to prevent the scenario or reduce the amount of damage. Most Effective Ways to Protect a Business against Vandalism Now, let’s get to the nuts and bolts of the situation — how to protect your business from vandalism. While it’s not simple or inexpensive, it’s most definitely worthwhile for a little more peace of mind and to mitigate the extent of the destruction. Here are some effective ways to protect a business against vandalism: Identify weak points. Huge windows, poor lighting, outdated or insufficient security/safety measures. All of these can and will prove very detrimental if vandals strike your place of business. Use landscape and lighting. There’s a reason all those big box retailers and chains have landscaping and lighting — to help prevent damage from a variety of sources. You can use landscaping and lighting to not only improve aesthetics, but also, to help ward off trouble. Install security cameras and more. Of course, this is the most obvious measure to take proactively. But, be sure to place those cameras and other hardware strategically to get the most out of them. Keep an up-to-date store inventory. This not only helps to reduce over-stocking and identify shrinkage, but it can equally help if things are damaged — due to vandalism or another reason, like a natural event. Be sure to have the right insurance in-place. Just because you carry insurance doesn’t mean you have the right coverage. Take some time to go over your policy to ensure you have ample protection. What other suggestions do you have? Please take a moment to share your thoughts and experiences by commenting and letting others know your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Respond to Bad Online Reviews

May 5, 2017 No Comments

In an increasingly digital, on-demand world, that’s so closely and quickly connected, it’s easy to find out about a business before you do business with them. It also provides an environment where customers can cast your business in a negative light on a very public forum. Let’s face it, you won’t please everyone that does business with you and that can easily lead to a bad review. Before you know it, others jump on the bandwagon because someone else has taken the first step. What’s counterintuitive is not all bad online reviews are bad for business. For those who already know your company and appreciate what you offer, those reviews won’t matter. What’s more, consumers who read reviews usually do give deference, putting things into context. Future customers are likely to weigh the good with the bad and make an intelligent, unbiased decision. However, this isn’t to say that not responding is the best course of action. Ways to Respond to Bad Online Reviews When your company receives a bad review online, it’s only natural to do one of two things: label the person who wrote it as a blithering idiot or just ignore it. Of course, the former is a one-way ticket to the insanity of trying to win an argument that can’t be won or even resolved. The latter tells people that you just don’t care enough about your company’s reputation. While the second option will certainly do less damage, it isn’t necessarily the best way to go. Most customers won’t write you off based on one negative comment. Many, however, will gain respect for your business if you respond to the comment in a pleasant and helpful way. Of course, that’s not easy to do when you pour your life into a business and someone bashes it online. Your immediate impulse is to return fire. Don’t do it. Back slowly away from the keyboard and collect your thoughts. —Forbes What you ought to do is approach your business in a proactive manner, which you’re likely doing naturally. In other words, providing the best you can at a reasonable price, meeting or even surpassing customer expectations. However, it’s nearly inevitable that you won’t please everybody and out of those, there will be at least one that takes to the internet to voice his or her negative opinion. Of course, your business will be cast as incompetent, uncaring, or just bad all around. What you do next will determine how a bad review affects your business. So, try these tips to turn a negative into a positive: Don’t respond right away. It’s almost cliche to give this advice, but it bears repeating. The more in-the-moment you are, the more difficult it will be to respond objectively. Leave your emotions and personal bias aside. Yes, your company is your very life and you’ve pleased so many others, this seems quite unreasonable, but it might be legitimate. Try to learn from what’s being said. Don’t just take the comments at face-value, dig into what’s between the lines. You might just discover that there’s something awry you’ve never noticed. Be brief but clear. Your response should not be a novel and it shouldn’t go off into tangents. Make a brief, clear statement so others who read it can form a sense of the situation. Offer a reasonable solution. It might be the last thing you want to do, but offering a discount, or something else to make peace can work wonders. What you should never do is try to win an argument. You’ll look petty and it will appear to future customers that you don’t work and play well with others because you’re always in-the-right. Keep a level head and approach it with empathy, you’ll probably be surprised by the results. [shareaholic app=”follow_buttons” id=”26833294″]