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Treat Your Spouse as an Investor
- skmurphy 3y agoSummary 1. Treat your spouse as an investor and board member from the beginning. 2. Lay out a plan and hold yourself accountable on a periodic schedule. 3. Come to an agreement on an overall plan that includes timeframes and limits on financial obligations you will incur. 4. Distinguish between asking for money, asking for emotional support, and asking for advice. 5. Schedule time and expense for the mistakes necessary to learn how to thrive as an entrepreneur. 6. Plan for iteration and refinement. 7. Commitments to customers and cofounders are important, but family commitments are more important. 8. Establish some simple practices to maintain financial transparency from the start. 9. Maintain a list of critical risks and review monthly. 10. Financial outcomes are essential, but new learning enables you to define and meet goals.
- 4d4m 3y agoI'd add to this: try to encourage your partner to frame their goals in a similar manner - you are there to help them achieve the same outcomes dear to them you are hoping for.
- shrimp_emoji 3y agoOnly speak to them in a quarterly earnings call about any dependents created in your joint partnership.