Confessions of Dynamic Duos
Running a business with your spouse
National Post (January 15, 2007)
By Deena Waisberg
Many couples fantasize about working together. But only about 5% of those that go into business together can make the venture work, according to Azriela Jaffe, author of Honey, I Want to Start My Own Business, A Planning Guide for Couples. Four couples who have tied a double knot share their secrets to success, including "dos" and "don'ts" for coentrepreneurship.
A common thread among the couples was that co-entrepreneurs are more likely to be successful if they have complementary skills because a business requires different talents. Linda Lundstrom had a background in fashion design, while her husband Joel Halbert, who joined clothing design and manufacturing company Linda Lundstrom Inc. in 1987, is an accountant. Farah Perelmuter did public relations for an advertising agency before starting Speakers' Spotlight in 1995 with her husband Martin, who is a lawyer.
Different talents also make it easier to establish different business roles, which is critical to avoid stepping on each other's toes, according to Mr. Halbert, who admits that he and his wife have nevertheless "done some stepping" in the past. Ms. Lundstrom oversees clothing design as well as manufacturing and operations, while Mr. Halbert looks after the financials. Mr. Perelmuter builds client relationships and handles the operations while Mrs. Perelmuter does all the marketing for their company and manages staff.
Even so, couples are bound to disagree about some business decisions and therefore the couples underline that communication is key while silence is deadly. Calgary-based husband and wife team Liette Tousignant and Kelly Krake, who invented the Hang and Level picture-hanging tool, are committed to talking through differences of opinion. "In the past, there were times I didn't communicate my concern and a decision didn't turn out well. Now we speak our minds and we don't take disagreements personally," Ms. Tousignant says.
Still, Mr. Halbert and Ms. Lundstrom emphasize it is important to present a united front to employees. "If we have a disagreement, we iron it out behind closed doors because if your staff see you disagreeing on major issues, it causes uncertainty," Ms. Lundstrom says. Also it prevents staff running from one owner to the next, if they don't get an answer they want, which used to happen at Lundstrom, she adds.
Additionally, while at work, professional behaviour is necessary. "We're not holding hands or lovely dove y," says Mr. Perelmuter. Furthermore, all the couples say they avoid dragging personal issues into work. "I used to work at one company where a couple who worked together would get into domestic quarrels at the office. It was uncomfortable to watch," Mr. Halbert recalls.
Then there are the benefits, such as more flexibility in work hours, which successful couples use to enhance their home life. Ms. Tousignant and Mr. Krake have both taken time off in the middle of the day to attend one of their daughter's concerts. Lindsay and Moira Merrithew, who own Stott Pilates, a company that sells Pilates equipment and exercise videos, have also taken advantage of this flexibility. "When the kids were younger, Moira was able to take time off and still be able to contribute to success of the business," Mr. Merrithew says.
However, co-entrepreneurs also end up working longer hours than couples who are salaried employees - 87 combined hours a week compared with 74, according to a 1999 Statistics Canada survey called "Working Together -- Self Employed Couples." Relationships can suffer, if couples aren't careful, the Perlmuters warn. They use the drive home to switch gears and focus on home and the children. Most of the couples recommend dividing home and work life. But this is sometimes easier said than done. "We love our work and it can be difficult to turn it off at the end of the day. Too often our discussions morph into business discussions," Mr. Krake admits.
Because Mr. Krake and Ms. Tousignant are living together and working together -- at home no less -- they make it a priority to carve out some "me" time. Mr. Krake and Ms. Tousignant work out separately in the morning-- she uses the home gymin their basement and he goes to a local fitness facility.
Finally, co-entrepreneurs must be committed to the business and each other for better or worse. As they draw their income from the same source, there will be greater pressure if the business runs into trouble. Although Linda Lundstrom Inc. is now a healthy $10.5- million business, there was a time when the company was in serious financial trouble. "Our relationship actually got stronger because of it, but it was a test that could have torn us apart," Ms. Lundstrom says.
But if there's more risk, there is also more reward. "Many couples don't understand each other's work. We share that and we've had a great adventure together," Mrs. Perlmuter says.
The Lawyer’s Weekly - June 17, 2009
Lawyer of the Week
The Toronto Star - March 16, 2009
Presidents don't always subscribe to free speech
Vancouver Sun - March 2, 2009
Football flash Rudy still drawing them in
Financial Post - February 21, 2009
Dubya's coming to Cowtown
MeetingsCanada.com - December 11, 2008
Speakers’ Spotlight CEO Named a Most Powerful Women in 2008
Press Release - November 27 2008
CEO of Speakers’ Spotlight One of Canada’s Most Powerful Women in 2008
MeetingsCanada.com - November 27, 2008
Speakers' Spotlight Wins Workplace Award
Press Release - November 2008
Speakers' Spotlight: More Than Just Talk
MSN Small Business - October 2008
Profile: Speakers' Spotlight
Millionairemom.com - October 2008
Millionaire Moms Audio Interview with Farah Perelmuter
Canadian Event Perspective - August 2, 2008
Defied Odds to Stay True to Their Dream...
Women's Post - July 11, 2008
Woman of the day
Bizbash.com - June 12, 2008
M.C.s Gone Wild - How to keep talent from going off-book and out-of-bounds
by Mimi O'Connor
Workopolis.com - April 28, 2008
4 Ways to Improve Your Presentation Skills
By Alan Kearns
CareerJoy.com - April 28, 2008
3 keys to a great speech Podcast
Montreal Gazette - April 07, 2008
Bill Clinton raking it in from Canadian public appearances
By Elizabeth Thompson
Alberta Venture - March, 2008
The Star Treatment
By Shannon Sutherland
AOL Canada - February 13, 2008
Couple Q&A:
Romance is....Notes on the Windshield, Bum Squeezes and Kids
By Sarah Treleaven
National Post - December, 2007
Gabbing with gracious gurus
By Shinan Govani,
Woman's Post - December, 2007
Farah Perelmuter: change to happiness
By Angela Trimmer
Midtown Town Crier - November, 2007
Midtown couple dreams their way to success
By Kelly Gadzala
National Post - September 29, 2007
Business owner by age nine, CEO proves an early start helps
By Libby Znaimer
Emprendedores
Speakers Spotlight, por hablar que no quede
Contemporary Business Communication
Business Presentations
By Scot Ober & Brad Quiring
Speaking Of Impact - Summer, 2007
Racing for ROI
By Michelle Ray, CSP
Progressive Choices - Winter/Spring, 2007
Making A Difference
By Cathy Watters
Progressive Choices
National Post - January 15, 2007
Confessions of Dynamic Duos
Running a business with your spouse
By Deena Waisberg
globeandmail.com - May 30, 2006
Married to the Job
By Sasha Nagy
Esteem Magazine - Spring 2006
Balancing Success
By Kevin Craig
The Globe and Mail - Sept. 29, 2004
Speakers' circuit not just talk
By Wallace Immen
WOMEN CAN DO ANYTHING (July 2004)
Let’s
Talk Business Interview
with Farah Perelmuter
INNOVATIVE PROGRESS (May 2004)
BUILD
BUZZ: 8 Keys to Entrepreneurial Success
by Martin Perelmuter, LL B.
SPEAKING OF IMPACT (Spring 2004)
A Tale
of Two Countries
by Martin Perelmuter, LL B.
In Conference
Supplement in The Globe and Mail - Spring 2004
Speaking Out Conferences Energized
by Successful Speakers
PROFITguide.com (October/November 2003)
How to fire your customers - Cutting
off paying customers sounds counterproductive, but it can actually
help you grow
THE MISSISSAUGA NEWS (Nov 13, 2002)
At Bridges to Business symposium - Don't quit
entrepreneurs told
MPI Newsbytes (Volume 9, Issue 27 02 July 2002)
Canadian Speakers Circuit Flying High
by
Funmi Okunbolade
Profit Magazine (June, 2002)
Heroes for Hard Times:Canada's Fastest-Growing
Companies point the way to survival and success
Profit Magazine (June, 2002)
Trends: How to Introduce a Speaker
The Globe and Mail: In Conference Magazine (Spring, 2002)
Talking About Success: The Speaking Industry
The National Post (Monday March 19, 2001)
Site helps track down celebrity speakers
by Marjo Johne
Canadian Jewish News (August 3rd, 2000)
Young Couple's Speakers' Agency Thrives
by Sheldon Kirshner
The Calgary Herald (April 22, 2000)
Mount Everest Climb Shared on Internet
by Michelle Simick
The Generator (November, 1999)
Focus
on Success
by Amy Harder
Royal Bank - Today's Entrepreneur (First Aired: March 29,
1999)
Partners in business and life
Home Business Report (Summer, 1999)
Speakers, Service and Spousal Partners:
Couple brings celebrities to Canadian events
by E.T. (Mitch) Lenko
Globe and Mail (Monday, January 11, 1999)
Couple Builds Agency on Soapbox,
by Jeff Brooke
The National Post (Monday, December 21, 1998)
When Your Partner is Your Business,
by Laura Fowlie
The Western Alumni Magazine (September, 1998)
"Well Spoken",
by Jeff Brooke
The Toronto Star (May 25, 1998)
Thinking Big - Agency puts speakers in spotlight
by Michael Schultz
Association - Canada's Association Management Magazine
(December/January, 1997/1998)
Best Speaker Bets: 1998 Forecast
The Meeting Professional (December, 1997)
"Beyond Boundaries: Speaking Across Cultural Boundaries",
by Martin Perelmuter
The Financial Post Magazine (January, 1997)
"Power Talks",
by John Greenwood
The Toronto Sun (August 18, 1996)
"Two by Two: Lessons for Couples Living and Working
Together",
by Sandy Naiman
Association Magazine (June/July, 1996)
"Helpful Hints on Booking a Speaker",
by Farah Perelmuter
The Toronto Star (November 27, 1995)
"'Canadian' the New Word in Public Speaking",
by Oscar Rojo
|
