couples

Risk Tolerance: Figure It Out Before Starting a Business

In my last post, I advised couples in business together to determine their risk tolerance.

I’m not a financial risk-taker. My risk tolerance is very low. I wouldn’t go to Las Vegas to gamble because losing money keeps me up at night. My husband, on the other hand, has a higher risk tolerance. If we started a business together, he’d be fine with having all our eggs in one basket, whereas I wouldn’t.

So, why is important for couples in business together to determine their risk tolerance?

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Copreneurs: Stay Aligned With Your Business Goals

It’s not enough to work toward having a successful business. Copreneurs need to be on the same page when it comes to priorities as well. When your goals for the company are in sync, and your path to reach those goals is clear, you build a better foundation. Remember that you’re part of a team and both of you have a role. Avoid overlapping efforts or ignoring something altogether by constantly communicating and clarifying roles.

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Copreneurs: Partners and Married Couples in Business Together!

Coaching partners, married or otherwise is a unique experience and unlike other client relationships that I have. I found out recently, that there is a term for it: ‘copreneurs.’ We’ve known the term ‘entrepreneur’ for ages, and are getting used to ‘solopreneur.’ When I worked for StomperNet, I coached quite a few copreneurs, and didn’t really think too much about it. I studied couples coaching in my training, but this felt different. Partners in business usually have the social/emotional component, but the business itself puts coaching copreneurs in a league of its own.

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