(First published in the Philippine Online Chronicles)
How would you like to marry the person you love, build a home with him or her, raise your children together – and manage a business together?
Seems perfect, even romantic, for two people who care for each other and have vowed to be together for better, for worse …
On the downside, there is the problem of too much togetherness. Being together 24/7 can be daunting; inevitably the couple can get into each other’s nerves. And what about the high risk involved in putting their eggs in one basket? Wouldn’t that mean undue financial pressure on the couple? How to divide management responsibility between them can also constitute another challenge. What about differences in management style and views about how the business should be run?
We featured 25 couples in business in “Dreamers, Doers, Risktakers, Part2 – Couples in Business” (published by SERDEF and UP ISSI) and got them to share how they cope with the financial uncertainty and constant togetherness.
Here are some useful tips drawn from the stories.
“Decide how you want to separate your work from family life. Some couples thrive on seamless 24/7. Some may have no qualms in discussing business anytime anywhere, much like we do. But you and your partners may prefer otherwise. Either way can work. The important thing is you agree or set compromises at the outset. … Set guidelines, even silent ones, for work divisions and expectations. Identify your weaknesses and complement these with your partner’s strengths. Devise mechanisms for advice and disagreements. This may take some doing but once in place, things are bound to proceed smoothly. … Make sure you both develop communication skills and a sense of humor. You’ll need both in good measure. Learn to communicate and listen. Develop a sense of humor. These help sweeten the tedious tasks you have to do. … Lastly, schedule time for interests. Life will be more fulfilling and less stressful if you set aside time for hobbies and other fun activities. – Chito and Aida Madrono, 13 PM Enterprises.
“For all we have been through, we have made a pact never to engage in blame passing for a wrong decision. … Two heads are better than one, in spite of the tiffs. This is an upside to being a couple in business. What’s more, one gets to see what preoccupies the other, so one understands the other better. … Like it or not, differences that remain unsettled in the workplace can be carried over to the home. Children are often affected seeing their parents ‘fight it out.’ In such case, we would compromise. We have at one time or other consulted objective outsiders – close friends with varied expertise to ‘referee’ us.” – Boy and Ana Manrique, Moondish
“Don’t let your ego get the better of you. You cannot always be right and your spouse always wrong. Give your spouse’s ideas, suggestions or comments a chance. Learn to listen. Learn to compromise. Respect one another both at home and in the workplace. Who knows, this time around, your spouse may be right and you are wrong.” — Joel and Farida Aguilos, Trayline Corporation
“Keep your business decision-making professional and impartial. Be as analytical and scientific as possible. Don’t give in to emotions or personal issues. In our case, I am the engineer who thinks analytically. My wife is all emotions. So we talk things out until we get to resolve a disagreement. It is important to unquestionably trust each other at all times. Fortunately, it is not hard to trust your own family.” – Jofel and Frances Babaran, Arte Cana
“It is good to have separate duties to avoid overlapping of functions. So we work in separate rooms to make us both productive. Clients tend to be more open if they can talk to us in private. … But one realization that has dawned on us is this: if the family is in trouble, business is in trouble. Business problems creep into other things, the family included. The family is therefore priority.” — Maldwyn and Ruth de Pano, Design Plus.
“Marriage and business can mix if both spouses practice professionalism. We have agreed early on hat personal conflicts are to be confined at home and business concerns contained in the office. We are in sync because of similar discipline, work ethics, interests and mindset. Our activities are complementary and we have clear division of work. (As president, Joey calls the shots. Workers know that, in case of conflicting instructions from the couple, what Joey says prevails.) – Joey and Bebot Lapid, Lapid Chicharon
(To be continued)