Published on July 25th, 2013 | by Jose Vasquez0
Startup Tech Companies with Romantically Linked Partners
While somewhat unconventional, some startup tech companies have found success with a married or other romantic couple leading the helm.
Some professionals insist that working with a spouse or lover is always a bad idea. Personal issues can bleed into professional issues, and vice versa, and ultimately both the professional and personal relationship can suffer.
But according to Rebekah Iliff, an expert in startup company management, it’s not always a bad idea to start a company with a romantic partner. In a recent article, Iliff interviewed several different couples who had experienced varying degrees of success when starting or running a company together.
Ultimately, Iliff offers five major pieces of advice for startup tech companies that are founded by a romantically linked couple. I’ve summarized this advice with a few of my own personal insights below:
- Don’t start a company to save the relationship. Your relationship is not magically going to get better if you go into business together. Never start a business if your primary motivation is personal attachment or emotional desire.
- Trust your partner. All good relationships are built on trust, but there are varying types and degrees of trust you need to consider. You may trust your romantic partner in your personal relationship, but you’ll need to trust them in a business setting too.
- Define your roles. Don’t just make mutual decisions on everything. Eventually, you’ll need to develop yourselves as individuals in the company, with specializations and unique responsibilities. Draw lines and make sure the work is split appropriately.
- Don’t get greedy. Money is directly or indirectly responsible for the downfall of many relationships and businesses have lots of money circulating that could create a problem. Deciding what to spend and what to reinvest can cause strain in your relationship and your partnership, so be prepared.
- Put your relationship first. No matter how exciting your startup tech company is, your first priority should be family. Don’t sacrifice your relationship for the good of the business, or you’ll find yourself regretful later in life. Do what you can to manage both.
Taking these items into consideration can maximize your chances of success if you’re thinking about starting a tech company with your partner. Don’t take the endeavor lightly.
The original story can be found here.