One of the most sacred bonds in the world is that of marriage. When married partners decide to step up their partnership into a business, there may just be a lot of money in the venture. There are innumerable couples who’ve entered into a business partnership with each other and their dynamic as being married and having that innate understanding of each other makes them very successful.
Co-preneurs as they are called; are married couples that have partnered up in business. Many of these business owners make it big in money and some end up getting celebrity status too. The reason why these types of partnerships flourish is the intense presence of trust in the relationship. The two know each other for a considerable amount of time and are very well versed with each other’s personalities. This and also the additional acceptance of each other’s strong points make a good mix of effective business running. By complementing each other in their skills and talents the couples can manage different aspects of the business. The major plus point of such a venture is that even though there is a partner involved for the two of them, the money all comes to one household!
Ross and Jennimay Millar are an example of one such married couple in business as partners. They’ve been working together for 22 years and own Ross Millar Swim School and Millars Vineyard. The two give credit to their success for having an understanding of each other’s skills and valuing hard work. Communication too has played a key role in their idea-generating process, and improvement of the quality of their businesses.
When married and with a family be it small or big, the challenges become more apparent. When both parents are involved in earning for the family, and both hold equal importance to the company’s smooth running, many compromises and extensive planning need to be made. Kids after a certain age can help around in the business and also learn the fundamentals of the venture under the mentor-ship of their parents. This enables the business to be passed on to the next generation.
The more famous co-preneurs include the originators of Estée Lauder the prestige skincare, makeup, fragrance, and hair care products brand. The company saw humble beginnings when husband Joseph Lauder and his wife Estée Lauder began producing only four cosmetic products in New York City. The organization started to spread across the US and then to the UK. Within two years of starting, the couple registered Aramis Inc. a company focusing on fragrances and grooming products for men. While the brand kept growing, the couple received a variety of awards for their personal achievements and also for the brand. Now Estee Lauder is a multimillion-dollar brand all by efforts by a married couple in love.
While some may find this road a little scary to tread, it has managed to make the lives of many couples more fulfilling. Would you be willing to become a co-preneur?