How to pitch your business to your spouse

by | Aug 17, 2015 | sme investment opportunities | 0 comments

How to Get Your Spouse on Board with Your Business

Is there a need to pitch your business to your spouse? Are entrepreneurs normal people? Have you ever asked yourself these questions? Society has schooled each and every one of us that to succeed, you need to go to school, get good grades, get a good job and climb the corporate ladder. The job brings exciting and comforting things like a salary, medical aid cover, mortgages, life assurance and sometimes a pension account. I too want that and my spouse would definitely cheer me to pursue these.

Back to my question, are entrepreneurs crazy? I don’t know but society think they are. These are the people who decide to go against everything we have discussed above. These are people who are not motivated by pursuing the corporate life and all the benefits that comes with it. They decide to set up their own companies, with no life assurance, medical aid or other forms of security we discussed above. They decide to launch a business even without the guarantee of success. They honestly do not have a romantic story to tell to their spouse serve that they are likely to fail but that they will keep trying till they finally find that eureka moment. This is the story they have to sell to their spouse and mostly it’s rejected. The reality is most businesses fail in the first two years and our spouses know that too. So how then do you break the news to your spouse that you want to venture into business and quit your day job?

Your family is part of your business

Even if your family don’t buy your business idea, they are part of it. If you succeed, they are the first beneficiaries and most importantly if you fail, they are the first casualties. If your business demands a lot of your time, your spouse and kids suffer. Don’t let that happen. Your spouse may never like your venture if he or she feels they are now compete for attention with your new found love.

Difference in perspectives and risk appetite

Marriage has a lot of dynamics and so has business. You spouse is likely not to understand your business concept, more so if it’s a new area. Companies have to take new employees on induction and related trainings repeatedly to instill in them the company vision and virtues. Of course you can’t do that to your spouse but rather give them time to understand your idea. If it’s an industry with high level or risk like mining and your spouse is risk averse, she will most likely resend the project. Understanding that different individuals have different levels or risk appetite will help you in trying to convince your spouse to be on your side. Changing someone’s mindset is not easy. You may be battling against a mindset that has been developed over decades. Respect that process. A risk averse spouse is likely to say no if the venture involves ceding the house for a bank loan than a risk seeking spouse.

Minimize start-up pain by starting small

Commit an investment to your start-up which will maintain your family lifestyle and will not be felt if the business goes under. Remember that in the first 2 years of business, the possibility of failure is high. Thus don’t let your seven year old daughter know that she has been chased from school because dad had committed her school fees into the business and it failed. Your spouse will definitely won’t be comfortable if you break the news that you are starting a small business which will take away her manicure portion from the budget.

Create a bedroom boardroom

I have seen men who are in business and their wife of 20 years has no idea what the business is all about. I know a lady who couldn’t continue with the ‘family’ business upon her husband’s death because he never involved her in the business. Whilst Iam not saying involve her in every tiny detail of the business, making her part of the process is important especially when the time comes that you want to break the news to her that you are quitting your secure formal employment with medical aid, pension and life assurance to pursue your business concept which doesn’t have all these benefits and has more risk of failing than succeeding.

Don’t let your business steal family time

A few weeks ago I wanted to have a meeting with a professional programmer on a Sunday after church. He said no. He wanted to play with his little boy and hang around the house with his spouse. He had a day job and he worked on his startup project Monday to Wednesday from 5pm to 8pm. Thursdays and Fridays he was home by 5pm. Avoid working around the clock. You will be passionate about the idea but your spouse will not be equally passionate. Create a schedule and stick to it. Decide with your spouse how much time you will be spending on your business. Agree, and then make it happen. When its family time, let that time be about family and not business.

Let your spouse play the free role.

When I used to play football in primary school, I was occasionally given the free role. Back then you would be asked to be all over the pitch and not be restricted to a certain part of the pitch. It was exciting. Sometimes I would be asked to play number eleven were the coach told me to be on the line and flight crosses. I didn’t like it as I wanted to dribble in. Don’t let your wife play number eleven, give her the number six shirt as we used to call it back then – the free role. Don’t let her come in as an accountant because she studied accounting. Ask her how she feels she can contribute best and let her be that.

Tell your story to your spouse

Every business has a story surrounding it. I was once given a Strive Masiyiwa audio of the Econet Story by a friend. It was intriguing and it made me decide to use Buddie back then. Imagine that I don’t even know Strive personally yet that audio made me buy the Econet story. Tell your spouse the story of how your business idea came about. Forget about the money. How was your idea conceived?

Take your spouse to the bank

Results don’t lie. This is a statement I have heard countless times from attending Jack Canfield’s webinars. When your business is successful, it has to show in the bank account. Take your spouse out on a date and make sure she knows that the money is coming from the business. Buy her something she had been coveting for a long time and let her know it’s that the business idea you have been working on for the past six months that’s paying the bill.

I know there are other ways some better than the ones I have outlined in this article but I believe these will go a long way into convincing your spouse to be part of your business which is important if its going to be a family business to stay for centuries to come. Most business die with the founder and to avoid this, consider these tips

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