Over the years, we’ve worked with married couples who want to either buy or start a business. Many married couples don’t know what questions to ask, often leading to financial disaster.
Good intentions alone do not manifest into long-term success on the road to a flourishing family business. Usually, this is because couples didn’t count the cost of quitting their day job to operate a business.
We get into the nitty-gritty of why drafting a detailed business plan isn’t just busy work—it’s a relationship lifesaver. An effective operational agreement is key when personal and professional lines blur.
Imagine a partnership where each person’s strengths shine and weaknesses don’t hinder; we discuss how to achieve this by setting clear roles, and why it’s vital for your future employees’ sanity and your business’s prosperity.
Remember, in the world of business, love may keep you together, but a good plan keeps you from falling apart. As we wrap up the episode, we switch gears to tackle the tug-of-war between starting a new business or taking over an existing one.
We share the secrets to assessing a business’s value with your head rather than your heart. We also explain how to avoid the pitfalls of a saturated market and what financial due diligence means beyond the balance sheet.
Hear our thoughts on the risks of funding dreams with personal assets and why communication is the cornerstone of both marital bliss and business acumen. Whether you’re a seasoned entrepreneur or just toying with the idea of a shared business, this episode is your map to navigating the family business landscape.
Over the years, we’ve worked with married couples who want to either buy or start a business. Many married couples don’t know what questions to ask, often leading to financial disaster.
Good intentions alone do not manifest into long-term success on the road to a flourishing family business. Usually, this is because couples didn’t count the cost of quitting their day job to operate a business.
We get into the nitty-gritty of why drafting a detailed business plan isn’t just busy work—it’s a relationship lifesaver. An effective operational agreement is key when personal and professional lines blur.
Imagine a partnership where each person’s strengths shine and weaknesses don’t hinder; we discuss how to achieve this by setting clear roles, and why it’s vital for your future employees’ sanity and your business’s prosperity.
Remember, in the world of business, love may keep you together, but a good plan keeps you from falling apart. As we wrap up the episode, we switch gears to tackle the tug-of-war between starting a new business or taking over an existing one.
We share the secrets to assessing a business’s value with your head rather than your heart. We also explain how to avoid the pitfalls of a saturated market and what financial due diligence means beyond the balance sheet.
Hear our thoughts on the risks of funding dreams with personal assets and why communication is the cornerstone of both marital bliss and business acumen. Whether you’re a seasoned entrepreneur or just toying with the idea of a shared business, this episode is your map to navigating the family business landscape.