Is It A Good Idea To Start Business With Your Significant Other?

Power couples in the current times foresee their values and tenets to exceed beyond the confines of their personal bond; to touch the lives of many from the community. There have been innumerable examples of couples redefining the ethos for industries to thrive in the current times. From fine arts, and design, to science and research, power couples have made wonders in creating a product that is either solving a problem for consumers or benefits society at large.

When asked whether it’s a good idea to start a business with your significant other, I acknowledge the journey which is full of learnings and surprises that I have faced with Vinayak Burman, my husband, by my side. As co-founders of Vertices Partners – a young and leading law firm with operations in key metro cities of India, we’ve weathered the storms of lows and paved a resilient path in building a law firm from scratch.

Beginning a business with your life partner demands a diligent approach. It is a common myth among the masses that business is just an extension of their relationship. Still, one must be aware of the nuances of varying skills, boundaries, and dynamic perspectives that both must protect for the business to thrive and remain sustainable in the long run. Working together has been a journey full of excitement, hard work, and most essentially, mutual respect.

Advantages of partnering with your spouse in business

A key benefit of ideating a business with your spouse is nurturing trust. Trust remains the strongest pillar of any relationship, and when it channelizes into a business partnership with your spouse, it provides a buoyant bedrock to overcome challenges together. When we first started, we both were aware that we were entering a partnership built on mutual understanding, shared goals, and firm confidence in each other’s competencies. 

Another advantage of partnering with your spouse professionally is to align values and vision. This alignment has helped us make strategic decisions in expanding our practice areas and hiring like-minded professionals who contribute to and align with the firm’s culture. Our shared vision has enabled us to drive the company in the same direction without the constant friction that is commonly seen among business partners.

Having known your partner day in and out, you naturally understand each other’s strengths and weaknesses, which helps you to divide responsibilities efficiently. 

The Challenges of Running a Business Together

While the grass looks green with your life partner alongside you in your professional journey, beginning a business with your spouse has its unique challenges. One of the main hindrances is preserving work-life balance. Playing the dual role of a life partner and a business partner, it’s common to see work spill over into personal time, especially during the early stages of establishing the business.

As couple-entrepreneurs, we don’t set dedicated time for work or family. For us, it all comes to the common understanding between us to what is important at that time. If during family time something related to work is important then that takes precedence and visa-versa. Having that understanding and common mindset between us is important.

Yet another teething concern remains when dealing with disagreements. No business partnership is immune to conflicts, and when you’re married to your business partner, these differences ought to feel personal. 

Learnings through the journey

Over the years, one can learn a few key lessons about running a business with their spouse. Communication remains key. As life partners, it is a common belief that you know your partner’s thought process clearly; however, in business, it’s crucial to be vocal about your perspectives, shortcomings, and expectations to ensure that both of you are on the same page and avoid potential misunderstandings. 

Lastly, one must keep falling back to the idea of why you both began the business in the first place. For us, Vertices Partners was more than just a career move - it was a shared dream. Whenever things get difficult to deal with, we remind ourselves of the vision we had when we first started and how far we’ve come. This helps us to remain connected, both as business partners and as life partners.

Authored by Archana Khosla Burman, Founder Partner, Vertices Partners and Chairperson, FICCI FLO, Mumbai Chapter. Views expressed by the author are their own.