Because Saks does not take restricted stock

Posted on March 3, 2019 in Business Partners, Money & Finance

I’m a big fan of attorney Ryan Roberts and his StartUp Lawyer blog, and just couldn’t resist the title of his recent post, “Saks Does Not Take Restricted Stock.” He touches on the need to uncover the tolerance level of your business partner’s spouse/significant other for the uncertain time of sacrifice ahead.

It’s similar to the points I made in my post, “Do You Have Your Life Partner’s Buy-in For Your Business?“, last year.  In addition to all their other roles, business owners need to keep their life partners “invested” business-building process–to keep their spirits buoyed

As entrepreneurs, we already know we’re driven to make the dream come true.,  Hopefully, if we have business partners, we’ve chosen people who share that dream and dedication.  But sometimes, the non-entrepreneur spouse has involuntarily been whisked along for the ride.  Their support from the sidelines is crucial to your success.  They’ll have to suffer their own deprivations (like not having the creature comforts they’re used to), challenge their own comfort zones (like concepts of “security”), explain to other family members and friends why, so many years later, they’re still living in their cramped apartment and eating dinner on the floor off of food trays, repeatedly endure the kindly but barbed criticism, “why doesn’t [spouse] just go out and get a real, paying job?”–all for the sake of your dream.  Keep them in the loop, and let them know how much their support is appreciated.

 

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