Welcome back to our reoccurring segment on owning a company with your significant other. In this new installment we are going to look at purchases for the business and in your personal lives. What happens if the one partner makes a purchase without consulting you?
I am not saying it’s going to happen or it won’t but what if? Anything is possible as we all know, and Lisa and I try to plan as much as we can to stay ahead of problems now. Do we still get upset at each other? Well sometimes we are human after all.
I am going to create a false scenario, this has not happened between us. The item in question has been in discussion between us and may be purchased one day when it is warranted. It just makes the story to be more relatable.
Imagine your company like ours does websites and requires a lot of images to complete your work. Lisa decided on her own that it would be worthwhile to go out and buy a camera to take pictures. She gets the best one suited for our company with the added ability of shooting video. The only thing is she forgot to ask me.
How would you handle this? Would you flip out on your partner in life and business? I mean is that really the way you want to handle this. Will it cause a big blow up in the office or would you let it slide and there be a lot of resentment?
No two individuals are the same we all know that. What would you do in that situation? Be honest with yourself. I can see a chance of a major conflict over the purchase of what could cost a couple thousand dollars.
Most cases the individuals would be a little upset they were not consulted before the purchase was made with company money. I know Lisa and I would probably question the why as we are both very responsible with every dollar spent.
There is another side to this whole purchase as we are both in a relationship together as well. We have a fair amount of trust in the other person banked up. We know how each other thinks. This is where we differ from other business partners.
I can tell you that without a doubt I 110% trust her ideas and solutions. If she thinks that camera would help us, then it WILL HELP US. She always has the companies best interest at heart. So, if she went out and purchased this item I would be okay with it deep down.
Yes, if it was something related to what we need I know she would also trust me as I would trust her. Lisa knows me well enough that I would not just go buy the camera for kicks and because I just wanted the camera. She would know I had a business reason behind the purchase.
We are partners first and foremost. The problem would lie in what I have discussed in a previous blog. Communication, Communication and Communication.
All good couples need solid communication skills. Without these skills I have to say most relationships personal, or business will be doomed to fail. I would say it is the FOUNDATION of all relationships that have succeeded. They are why they will continue to succeed.
Couples that talk things through, come to a decision together are destined for great things. That is the core and FOUNDATION of Lisa and my business relationship and why we succeed so far. We have brought that FOUNDATION over from our personal life into our business one.
Add in the TRUST factor and we know each other’s strengths and weaknesses very well. This becomes a giant puzzle that adds up to why we succeed.
Lisa and I would never go out and purchase a business-related item without at least a minimal discussion with each other on the topic. I will use a previous example to show what I mean and give this context. Lisa is working hard currently on setting up her podcast Girl in Charge that will be coming soon. She went out and purchased a lot of the equipment needed to record this podcast.
What did she do before that?
One night after she had researched all the products she would need she broached the subject with me. As all good partners she told me what she was going to need, the why she felt that way and how much it was going to cost overall to set up.
She showed me all the items online and asked me my thoughts and opinions. We communicated back and forth and agreed to get the equipment for her podcast. We decided on it as a couple or business partner. To us both are one in the same.
She was passionate about doing this podcast so, as a partner I fully support it. The numbers all made sense to both of us. She could have just gone out and bought the equipment to do this, but she did not. She knew I would understand and agree. That’s what partners do. We tell them when they should shoot for their dreams and ideas. We also tell them the opposite when they are being stubborn and not listening.
As Lisa says its not always Rainbows and lollipops...
We tell each other the hard truths when we just don’t want to pay attention and listen. The most important part is we are always there to listen, support and decide together on things.
The purchase does not matter a hill of beans. The purchase is just an item. We communicate and discuss it together. If either of us contemplates a purchase related to home or business, we will always discuss it first.
If she were to go out and buy this expensive camera I would know she had a plan and it was business related. I would be more hurt that she did not discuss the purchase with me. That she did not tell me why she was passionate about it. Why she believed in it.
I 100% trust her reasoning. She trusts mine.
We want to know the why the other feels passionate about it, so we can help the other out. It all comes down to doing it together.
Take Care till next time…