Tips For Successfully Running A Business While Being Married To Your Business Partner
When someone is committed to their work and clocks long hours, people usually say that they are married to their jobs. As for me, I am married to my job and my business partner! My husband, Mike, and I have been married for 16 years and successfully running Advance Financial for 22 years. Together, we’ve helped it grow from just 3 stores to over 100, and expand to providing online loans in 12 states.
Growing up, I saw my mom and dad successfully run a business and raise a happy family, which gave me a good idea of the challenges and the perks of working with your spouse. When it rains and the pipes leak, who’s going to go to work? Both! When such a situation rose, I saw my parents working together as equals, one mopping the floor while the other emptied the buckets.
It’s the same with me and Mike. By day we run Advance Financial and by night a family of three beautiful girls. If I can do it successfully, anyone can.
Here’s my take on how you can do it all.
#1 Be honest about your strengths and weaknesses
What works so well for both of us is that our skills are complementary. I am detailed-oriented – all about lists, spreadsheets and timelines. At Advance Financial, this means staying on top of our loan services, store openings and more. Mike is a visionary, he focuses on the bigger picture. He comes up with ideas on where we will take our business next to better serve our customers. I work on how we can make it happen. It’s a near perfect balance of aptitudes, attitudes and behavioural patterns. We complement each other in business, just as we complete each other as husband and wife.
Trust is very important in work and being married automatically adds up to trust in our work relationship. We have built trust in our personal relationship which translates to our working relationship. This helps us make decisions quickly to respond to industry changes as well as our customers needs. The responsibility of running a company of over 1000 people lies on both of our shoulders and each of us carries it equally thus reducing the pressure.
#2 Maintain a parallel pace
When you are working together with your spouse, it’s vital to move at the same pace, especially when you are going through big growth periods or major life changes. Drive the business equally and exert energy equally. It will help position your business for success. In 2013, Advance Financial opened 23 new stores in a single year, no easy feat. We had 26 stores back then. Doubling our presence in a year was testing our ability trusting each other and be successful.
Throughout the process, we were constantly having discussions regarding buildings, staff and necessary resources. I was much concerned about adding new stores on time, but Mike was on the field and would fill me in on our progress every step of the way.
#3 Regard your work partnership as an extension of your marriage
Just like a business, marriage is a partnership. Succeeding in marriage without compromising once in a while is not possible. Constantly working together helps us gain a valuable opportunity to know each other better. Discovering and learning new things about each other in the office environment enhances our family life.
Before Mike and I started a family, we started a business and worked together for 8 years. We discovered our strengths at our work and carried them over into our family. Mike doesn’t map out appointments or family duties at home because he doesn’t do the same at work. I always have a game plan ready for business and so Mike definitely believes that I will have one for our family. Once you are in the rhythm, you will learn what works for your relationship in business and at home too.
Learning and motivating each other has empowered us to develop not only a fruitful relationship but also a community-based financial services company that’s brought a major impact to thousands and thousands of customers.
Founded in 1996, Advance Financial is a leading FinTech company based in Nashville, Tennessee. With more than 100 stores in Tennessee and online services in 12 states, Advance Financial provides fast lending decisions on line-of-credit loans and other financial services, 24/7/365. Recent recognition includes 2018 Inc. 5000 fastest-growing private companies (7 straight years); A+ rating by the Better Business Bureau; Nashville’s 4th fastest growing company (2018, Nashville Business Journal); Forbes Best Employers for New Graduates (2018); and, Indeed Top-Ranked Workplace for Compensation/Benefits (2018). For more, visit https://www.af247.com.
Original Source: Octane Blog