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Work with your spouse? Some say, “No way. We would kill ourselves. “Others say they would not want a business partner other than the person with whom they share their lives.
No matter which side you are on, mixing business and pleasure comes with many positives – and also some negatives.
Hanna and Mark Lim are the owners of Lollaland, a line of children’s products. The couple appeared on ABC’s Shark Tank and shocked the Sharks when they said they had been a couple since they were 13 and still wanted to do business together.
These elementary school lovers are now in their fifth year of activity and say being a business partner has challenged them in new ways, but their relationship remains strong.
By working together, they recognize its advantages and disadvantages.
Pro: both partners share the same objectives and values
“When you are a husband and wife, you know your partner’s priorities intimately,” says Mark. For example, when Mark leaves work earlier to coach his female footballer, Hanna is not shy about staying behind to finish something, because they both have the same goals: raising a family and running a business. Any other business partner may not be as understanding that their partner has family responsibilities during working hours.
Con: Pressure on the home front
While Hanna was a stay-at-home mom before launching Lollaland, Mark already had experience as an entrepreneur and knew the challenges that would await him if he went on board to help Hanna run the business.
“I told him, you really have to think about it.” We’re going to be under a lot of pressure. There will be times when we will disagree. Are you going to be able to put aside the stress of the day when it’s time to be husband and wife or mom and dad? Remember Mark, who says he broiled his wife for a week straight on how the business could bring out the worst in both.
Although Mark and Hanna were concerned about the pressure that collaboration could put on their relationship, the couple knew that their relationship was strong enough to withstand the pressures of the business. Couples who do not have this solid foundation may find that the business is tearing up the relationship.
Related: How to Keep Your Business Together When Your Marriage Separates
Pro: Let’s celebrate our successes together
Although many couples celebrate each other’s successes – a new promotion or getting a new account – Hanna says that working with her life partner day after day to achieve the same goals means celebrating successes. of her husband as if they were hers because, well, they are!
Con: stress comes home
“When things are stressful at work; as Mark is bothering me to know if I made this press kit and I did not do it, it is difficult to go home and that it does not continue when we run to bathe and prepare dinner Says Hanna. No matter how hard they try to keep stress at work, Hanna and Mark admit that stress sometimes gets into their homes.
Pro: Deep understanding
Couples who run businesses have a better understanding of each other’s emotions, strengths and weaknesses than business partners who don’t also share a bed. “We understand each other,” says Hanna.
Build the kind of synergy that Hanna and Mark took time, although Mark says that running a business together has taught them more about each other. “I’m still learning about Hanna and we’ve been together since we were in college,” he says.
Related: How To Make It Work When You Are Married To Your Co-Founder