Gene Marks on Starting a Business With Friends & Relatives

 
Thinking about starting a business with your spouse? Business expert Gene Marks offers his insights on this tricky matter.
 

Video Transcript

Is that a good idea for your spouse to work in your business? You know, it’s, it’s funny – the best way I can answer that is, is people ask me all the time, so Gene, you know, how’s small business going? You know, what’s it like out there for small businesses, right? There’s like 30 million small businesses. I go, I don’t know. I guess it’s going – for people in this industry it’s going good and for this industry it might not be going so good. So, you know, when you talk about like a spouse working with you, you know, I’ve learned, after being married 25 years, that different people have different relationships with their spouse as in no one should judge how, you know, they make their own successful relationship. So if you have the kind of relationship with your spouse that you guys can get along and work together and have a life that way that’s fantastic. If you have the kind of relationship with your spouse where you just can’t do that, the hope is that you’re honest with each other and recognize that up front, because it can really destroy. The benefits of working with your spouse are huge, because obviously, you know, it combines everything in one place and hopefully you guys can feed off of each other and sort of share and tackle the same problems together. But the costs are also huge as well. Being around that same person 24/7, you know, that’s a toll in any relationship whether it’s, you know, marriage or a business partnership.

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