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business owner and spouse discussion

Characteristics of a business owner’s spouse can be make or break

What’s it like to be the significant other or the spouse of a business owner? People generally believe that when you are in a relationship with a business owner, your life will be easy, that it’s great to be involved with someone who is passionate about their work, and that you will both enjoy more money and flexibility in your lives. But this is far from the truth.

The truth is that a business owner’s life is unpredictable, involves hard work and very long hours. How can a spouse play a positive role in this scenario? Even if the business owner starts off with a great idea and a good capital outlay, it can be difficult to keep up the business momentum. The decision to start a business has a profound effect on a business owner’s life, and can have a positive or negative impact on their spouse’s life. The success or failure of the business rests on the shoulders of the business owner who often plough in their own money without any assurances that they will see returns soon. Or at all.

A family affair

The demands of keeping a business growing are not limited to the owner. Their spouses and family also feel the financial pinch and the entire household has to tighten its belts. Business owners often work long hours, which impacts on the quality time they spend with their families. Skipping family mealtimes or holidays can come as an unpleasant surprise to business owners and their partners. Spouses worry about the health of their partners, they are often woken by the tossing and turning of their significant other or by 3am wake-up calls. They can be anxious about the legacy and sustainability of their family business, procuring their retirement funds through a pension that hangs off the successful sale of their business, or the employment prospects of their children in the business. Many spouses are apprehensive about engaging and talking with spouses over the health and wealth of the family business. So, resilience is one of the most important characteristics of a business owner’s spouse.

Supporting a business owner

Being a business owner’s spouse is usually an undervalued role that involves a great deal of stress and emotion. If your partner is a business owner, it can affect your personal life – and not always in a good way. Striving to make a business a success can take its toll on a relationship. Spouses will not only have to deal with their partners' hectic work life, but also be party to the struggles of their loved ones. This will arouse a natural desire to fix the issue for their partners and find solutions to help them.

A practical suggestion

While spouses are not always directly involved in a business, they are certainly invested in its successful outcome. Modern life is stressful, between the demands of work and family life. But we can make this part easier for you, if you want to see your partner’s business become a success story, suggest the Business Accelerator Programme. Aurik has the tools for business owners to ensure scalable and sustainable business growth. If you want to join the business owner in your life in the Asset of Value series, all you have to do is to fill in the form below.

Tags: Asset of Value, Business Development, Family Business