NFIB

In Sickness and in Health
03/ 05/ 2003

by Rex Hammock

Ah, February and March. Valentine's Day. The arrival of Spring. Love is in the small-business air. Huh?

Until recently, I've believed that a business jointly operated by a married couple is neither healthy for the business or the marriage. I kept score of my personal theory by making a mental note whenever I'd see such a company or relationship crush under the weight of challenges at home and work.

Then, perhaps upon the personal reflection offered by experiencing ones own 25th wedding anniversary, I wised up. I re-ran an audit of my mental notes and admitted that business failures and successes I have observed (or been a part of) come in every imaginable variation of relationship and structure of ownership and management.

Couples can and do run successful businesses together. They risk together. They fail together. They bounce-back together. They raise healthy and happy families together. They face family traumas, loss and tragedy together.

One of the most helpful discoveries I have made as a professional observer of small businesses (as well as an owner of one) is that most rules I make, like, "don't run a business with your spouse," are proven wrong every day.

As we discovered while preparing this issue's cover story, it takes big minds and big hearts for these couples to balance the challenges and rewards of home and work. But then, aren't those the facts of life for all small businesses?

Speaking of the facts of life, February and March also mean the arrival of tax season. And so, to help our readers through their least favorite chore of the year (at least that's what you tell us), we are once again devoting this issue's MyBusiness Manual to the taxing issue of taxes.

Here's wishing you no marriage penalties of any kind.

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This article originally appeared in the February/March 2003 issue of MyBusiness magazine.

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