“There are 5.5 million family-owned businesses in the US. They generate 57% of our nation’s GDP, employ 63% of the workforce, and create 75% of all new jobs,” says Sheila Neisler of Catalyst Marketing Company.
Here are our top secrets to maintaining a healthy relationship as life and business partners:
1. Different Skill Sets: Avoid competition by having distinct roles. Respect and rely on each other’s expertise.
2. Positive Disagreement: Trust each other’s intentions. Disagreements can lead to better decisions and innovations.
3. No Micro-Management: Trust your partner to do their job. Micromanagement damages trust and productivity.
4. Unanimous Decisions: If you can’t agree, don’t proceed. Unanimous decisions prevent future conflicts.
5. Third-Party Experts: Don’t hesitate to bring in external expertise when needed.
6. Separate Offices: Have individual workspaces to avoid constant scrutiny and interruptions.
7. Off-Limits Times and Spaces: Designate areas and times where business talk is off-limits, especially in the bedroom and during meals.
Running a business as a couple is challenging but can be rewarding with mutual respect and disciplined adherence to these rules.
Michael Houlihan and Bonnie Harvey co-authored the New York Times bestselling business book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. The book has been selected as recommended reading in the CEO Library for CEO Forum, the C-Suite Book Club, and numerous university classes on business and entrepreneurship. It chronicles their humble beginnings from the laundry room of a rented Sonoma County farmhouse to the board room of E&J Gallo, who ultimately acquired their brand and engaged them as brand consultants. Barefoot is now the world’s largest wine brand.
Beginning with virtually no money and no wine industry experience, they employed innovative ideas to overcome obstacles, create new markets and forge strategic alliances. They pioneered Worthy Cause Marketing and performance-based compensation. They built an internationally bestselling brand and received their industry’s “Hot Brand” award for several consecutive years.
They offer their Guiding Principles for Success (GPS) to help entrepreneurs become successful. Their book, The Entrepreneurial Culture: 23 Ways To Engage and Empower Your People, helps corporations maximize the value of their human resources.
Currently they travel the world leading workshops, trainings, & keynoting at business schools, corporations, conferences. They are regular media guests and contributors to international publications and professional journals. They are C-Suite Network Advisors & Contributing Editors. Visit their popular brand building site at www.consumerbrandbuilders.com.
To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.
On September 10th, we had the privilege of speaking at the Private Directors Association® in… Read More
We were thrilled to be featured on Guy Raz’s podcast, How I Built This with… Read More
The Positioning Statement is All about Messaging | PERCEPTION, PRICE, AND PERFORMANCE A positioning statement… Read More
As a woman entrepreneur, you know the value of being prepared—especially when it comes to… Read More
Picture this: a woman with a vision, a passion to be her own boss, and… Read More
Even if selling your business feels like a distant dream, you need to be ready… Read More