Balancing Roles and Winning the Spousal Business Three-Legged Race

It's that time of year when we embrace fun outdoor games and activities. As I reminisced about participating in 3-legged race contests during the summertime, it got me thinking about how this classic, sometimes knee-scraping game can mirror the challenges faced by spousal business partners. Running a business with your spouse can be an exciting journey, blending personal and professional lives into a single endeavor. However, like any partnership, unclear roles and overlapping responsibilities can turn it into a metaphorical "three-legged race" that hinders progress. In this newsletter, we explore the importance of defining distinct roles within spousal business partnerships and how overlapping responsibilities can lead to growth obstacles and unnecessary stress.

Just like in a three-legged race, spouses in a business partnership are metaphorically tied together, sharing a common vision. However, when their roles overlap too much, progress can be impeded, confusion can arise, and personal and professional dynamics can become strained.

Here are some tips to help you avoid slowing down, and instead, get you over the finish line faster.

Defining Clear Roles: A Key to Success

Clear roles are vital for effective teamwork and efficiency. Each spouse brings unique skills, experiences, and strengths to the business, making it crucial to identify these individual contributions. By clearly outlining responsibilities, tasks, and decision-making authority, spouses can leverage their respective strengths and minimize unnecessary overlap.

When roles aren't clear, couples tend to spend too much time on the wrong things, becoming irritated with each other's differing approaches. Ultimately, this can lead to shrinking profits. When conflicts dominate an organization, the focus shifts from growing the business to resolving those conflicts, impacting profitability.

Here's an exercise you can try together:

For one week, track the major activities you each perform in the business, such as marketing/business development, sales, client relations, employee management, finances, and administration. Keep a daily record without sharing it with your spouse just yet.

At the end of each day, individually review your tasks and score how well you did on a scale of 1 to 5, with 5 being the highest. Also, rate how much energy you derived from each task. Remember, excelling at something doesn't necessarily mean it energizes you.

Highlight your top 3 tasks/activities where you scored highest. After a week of tracking, have a dedicated meeting with your spouse, uninterrupted, and share your top 3 areas with each other.

Now, you have clarity on each other's major contributions. Agree to prioritize these top 3 areas as your primary focus in the business. Commit to respecting each other's expertise in those areas and agree to "stay in your lane."

What if you find overlaps? No need to stress! Simply agree to divide the overlapping area between the two of you. For instance, if sales appears in both of your top 3 tasks, you can specialize in different types of sales. Let's say you are realtors; let one spouse focus on residential sales while the other specializes in commercial sales. This approach allows each of you to excel in an area you love and become the expert.

As for the remaining tasks on the "what needs to be handled" list, delegate them to your staff or consider outsourcing. After all, those items clearly aren't ones you excel at or enjoy.

I also highly recommend sharing your top 3 focus areas with your team, clients, and suppliers. This reduces questions, delays, and costly mistakes.

Of course, it's natural to occasionally stray and cross into each other's territories. That's okay! Just go back to what you agreed upon, reset, and get back on track.

Conclusion:

In the spousal business three-legged race, defining clear roles and minimizing overlaps is essential for success. By identifying individual strengths, focusing on those areas, and dividing overlapping responsibilities, you can harmoniously navigate your entrepreneurial journey together. Remember, "staying in your lane" allows each of you to thrive and contribute to the business's growth. So, grab your partner's hand, find your stride, and conquer the race together!

P.S. If you'd like to hear more on this topic, check out the training that my spouse Douglas and recently did for the Entrepreneurial Couples Collective.