We often hear couples say they could never work together in business with their spouse. “No way, we can’t work together. Put us in the same office and we would kill each other.” Interesting concept. In construction, my concern is that this is often an excuse to keep the dear lady working, bringing in a paycheck so she can pay the family bills.
My lady (Devon) came to me last night and said, “Can I tell you something?” Being the smart chap I am, I said, “Of course.”
She said, “I really enjoy working with you, we are a good team. We respect each other and when we have a difference of opinion on something, we always seem to be able to work through it and go on. We each know our own strengths and weaknesses and we allow the person with the best knowledge of the subject to make a decision that affects our business and each other. Thank you for that, and I love you.”
So, if you say you couldn’t work with your spouse, why? Have you read my 4th Cardinal Rule lately? Would you allow your spouse to disagree and make decisions for the business and for you? If not, why not?
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The most profitable construction company today is a husband/wife combination with one other person either supervising the construction or selling for the company. Think about it.
The Bottom Line:
Yes — in Michael Stone’s experience, the most profitable construction company is a husband-and-wife team with one other person supervising the work or selling. The requirements are mutual respect and letting whichever spouse knows the subject best make the decision. The article includes the comment from Michael’s own partner that says it better than any argument, and the Cardinal Rule that makes it possible.
Related Articles:
Everyone Gets Paid
Family Matters More Than Business
Ten Cardinal Rules for Construction Business Owners
Hiring Friends and Family
The knowledge and experience Michael Stone gained in his 60+ years in construction has helped thousands of contractors improve their businesses. He is the author of Markup & Profit Revisited, Profitable Sales, and Estimating Construction Profitably, and is available for one-on-one consultations. More here.
