Why Entrepreneurs Need Their Life Partners to Be Silent Partners in Their Business — Literally!

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq., owner of Ask The Business Lawyer, is an award-winning business attorney, speaker, and Entrepreneur Magazine online contributor. She saves consulting and professional services companies time, money, and aggravation by serving as their outsourced legal counsel.

Posted on November 18, 2012 in Business Partners

Thoriso Mashego writes:

Every internet marketer who is married has come across this problem:  How to convince their wife or husband that they are not wasting money, but investing it for the family by building a home-based business or internet business.

And that got me thinking.  Whatever your business, the support of spouse, life partner, significant other, etc., is an important (and overlooked) ingredient in the success of an entrepreneurial company.  I’m not talking financial support — that can sometimes cause more complications than it’s worth.  I’m talking about emotional support.  Or, at least refraining from the “when-are-you-going-to-let-go-of-this-hare-brained-idea-and-go-out-and-get-a-job?” kind of comments.  It’s tough enough to get a company off the ground without the incessant nagging of a significant other who doesn’t understand what you’re doing, why you’re doing it, or why it’s taking so long.

As you’re subjecting your family to the financial risks of the entrepreneurial choices you make, why not treat them as investors?  Emotional investors, that is.  Get them excited about the prospects of your business!  Show them a business plan (yes, that means putting one together).  Think of ways that they can help you grow it.  Include them in a focus group, if applicable.  Bounce ideas off them.  Try out your elevator pitch or tag line with them.

The more you can give them a sense of inclusion and reassurance (that your business is a real idea that has enormous potential), the more that you — and they — will reap the emotional dividends of a happy household.

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