How Not To Fail At Business With Your Wife

About The Woman - Doing business with your woman

by Life Mental Health, Flickr.com

You never get rich working for someone “probably”. So what’s the alternative? In these tough economic times all the options are on the table. Some people, maybe even you, might be considering going into business for yourself.

A long time ago, I went into business with the woman I loved – my girlfriend, I found out the hard way that wasn’t easy at all. I was very niave about it all to be honest. We did some things right, we did some things wrong.

Right & Wrong

We did our homework. We hooked up with a very experienced company that become our partners. They gave us all the knowledge to build on, along with trouble shooting advice (used that one a lot). Without them it would have been near impossible to start.

A shoestring – we started with way too little, a very skinny shoestring indeed. Get financed properly!

Not the right person – I invested in the wrong person (emotionally & financially). I knew it was the wrong person, but ignored that little voice.. you know what I’m talking about.

No backup – Starting a business in a relationship you’re not convinced about, is a recipe for trouble. It was also her home country and language. She walked away quite comfortable, I was left with my pride.

You don’t have to be like me

The wrong person is the wrong person, that’s independent of gender or relationship. I still believe the woman you love (or man) can make the best business partner. You just have to be smart about it, and there are several strong advantages for doing business him or her and I’m not alone in thinking this. According to the Small Business Administration – out of the 21 million small business in the USA, 90 percent are actually family owned. That’s an astounding display of confidence in family and yes, spouses.

Trust – who’d be better than your wife or husband? You have lived with them, you know them. More importantly your in it together, financially and emotionally.

Due diligence – I didn’t do this, but if you’ve been with your partner for a long time, then you probably have. You know their financial status, character and ability. You won’t be cheated by a fake license on the wall.

Extra mile – they will go that extra mile to keep things afloat in hard times. It’s a cliché but a fairly well known fact, most small business fail within the first year. If it’s a cash problem, one of you can take an extra job for a while, you can tighten your belt, miss a paycheck, live hand-to-mouth, or even take on extra responsibility if your skills allow. 

Together too much I won’t lie to you, this part was tough. But a well adjusted, mature minded, loving couple will find a way around this. Go home, don’t talk about work. Separate home from work, spend time doing fun things. See friends. I hated talking about business, it caused major problems and fights.

Be professional – We all have different skills sets, identifying these and can crucial in making any business better. You and your partner are no different. Assign roles to each other, according to skills and ability. If neither of you can do a job, hirer someone, perhaps a freelancer.

Trust in your partner’s ability – If you give someone a job to do, it means you trust in their ability. Don’t micro manage somebody else’s job, let them get on with it have regular meetings to check on key issues that are affecting your business and performance.

You still have to pay your spouse – I fell into this one too, I was too nice. Without a corporate structure and a HR department it’s difficult to put a value on your partner’s work, it’s very easy to lose perspective. Keep things afloat is the first priority, but you must pay or share with your spouse too.

They’re only human after all.

Outside advice and help – When we had a shortage of skills, knowledge or experience we either consulted with someone or hired someone. That part worked well. If personally you’re have problems find someone who will constructively listen to you both. Bottom line – if your relationship is at risk, look for help.

Goals and missions – with any business you need to determine your companies mission from the go-get. As you company grows you need to keep your eye on the ball, and make sure your achieving what you set out to do.

Remember to forgive, remember why you wanted to start the business together with the woman you love in the first place.

About The Woman

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Happy New Year – The Business End of Christmas

About The Woman - debts, credit cards

by Images_of_Money, flickr.com

Christmas is for kids everyone says, I agree. Then I guess the New Year is for adults? Then perhaps New Year’s resolutions are for adults too. What are the typical resolultions: lose weight, be happier, make more cash, be a nicer person , the list goes on, but there’s another one that’s on my most people’s list – get out of debt.

At Christmas we wonder what gifts to buy, the New Year is when we wonder how to pay for them. It’s exactly at this time of the year that peoples’ debts are increasing, so in a sense the New Year is the business end of Christmas. It’s certainly the time for looking at our credit card statements at least.

Who exactly does it affect

It’s been said that one in three people go into debt around Christmas. Debt is not only a risk to our financial well-being, but also to our relationships and even to our health.

According to Debt Advice a leading organization that gives free advice on peoples’ debts – it’s the leading cause of breakups. Actually it ranks higher than other factors such as unemployment, illness, gambling and alcohol problems. Although It’s hard to see how they themselves are connected to peoples’ debts.

It’s also said that 44 % of people in the UK alone, are now under the burden of non-mortgage debt. That’s a lot of families with debt problems! Many of these families will fail to make their payments.

I’m no better than you

I have no intention of telling you about how I crawled out of debt, or of how I never had a debt problem in the first place. But I will mention, that debt doesn’t only affect the adults – kids feel it too. I can recall time when my father whispered to me to crouch down, and hide from the man who was knocking on the front door. He may have been a legal sort of debt company or something even worse, I never found out, that’s often the problem with debt.

Talk to loved ones

Don’t hide your debt, don’t ignore it. Debt can seem like a terrible shame and burden. But that’s exactly when you need communicate with your family or partner. Your family needs to understand what you’re going through.

My Mother who was very able woman with money,  but she had the worse kind of surprise one day. I can’t remember how she found out, perhaps it was a letter, anyway the result was she found out her husband had taken out a second mortgage against our home – the first was almost paid off! Thanks dad!

Nobody ever knew why he did it, but he hid it, and even more dangerously ignored it. My father really was the perfect storm when it came to letting his debts spiral out of control.

Bottom line get the family on board with financial decisions. They can push you, or stop you, encourage you and or support you. They can’t do anything if they don’t know. Talk to someone you know, who’s been through it, or call a national debt line or something for free advice on debt. Good advice can often come free.

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Pamela Anderson – Why Can’t Stars Pay Tax?

About The Woman - Pamela Anderson, a woman, photo woman, woman photo, picture woman a beautiful woman

By DARREN ST0NE, flickr.com

We know it, “Tax not so bad a voice to slander music any more than once.” Shakespeare knew it, and now does Pamela Anderson. What does this quote mean? Not sure. But I hope it means he didn’t like taxes either, if it doesn’t I’m going to look a bit daft. There’s one thing that’s certain however, the Baywatch beauty, a woman who’s assets have never gone unnoticed, is now feeling the painfully intense gaze of the IRS. That’s right their scrutinizing her assets, or more precisely the tax income generated by them.

So how much tax trouble can a woman get into? Well according to TMZ, quite a bit. Poor Pam owes the IRS $370,000. It’s far from the first time she has appeared on the top list of delinquent tax payers, she also appeared on it in 2009. What is about the woman and her tax issues? But let’s be fair, she’s not the only one. Stars have had a long troubled relationship with the IRS over the years.

The beloved Lionel Richie had a $1.1 million tax bill slapped into his hand in April, for taxes allegedly unpaid since 2010. He later released a statement that he was unaware of it, and that he was dealing with it.

Tax shy stars

If Richie and Pam weren’t enough then these tax liens (could stay tax Aliens) have been filed to collect by the IRS:

Other tax challenged stars include Lindsay Lohan, who’s rarely out of the headlines owes $230,904, the list goes on. FYI – what’s a federal tax lien? The government’s legal claim against your property.

For the government cash is god! They will only take your property and cars as a last resort. Although it does happen, Willie Nelson famously lost nearly everything in an IRS auction – apparently he hid his guitar.

Why are stars prone to this?

Apparently it is down to massive drops in income! Let’s say you make $10,000.000 as a star then your earnings drops to a tiny amount of $1,000,000, that’s when they get into trouble. Well why didn’t you just say so? Because that makes it all okay, doesn’t it?

But stars can be saved at the last minute, Robert Downey Jr who went to jail for… that’s right drug abuse, fell $2 million behind. But came back with Iron Man.

Power to him for getting clean, and paying his bill. On the other hand, why do we even reward stars who screw up, or seem to treat them so differently? A normal guy who gets a DUI, can’t find a job. What happens to Joe the plumber if he falls behind on taxes? I’m not sure, but I know what won’t happen.

I Started off this post feeling sorry for Pam, but I changed my mind. See the full article here.

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