Home Forums Other discussions How could my wife help our business?

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  • #1000128
    mediaman
    Member
    • Total posts: 130

    Hi everyone,

    In an earlier “Tell Me Straight” post, I outlined the situation my wife is in with her employer refusing to pay her Jobkeeper.

    I am a pretty good “The Writing’s On The Wall” type of guy and I wouldn’t mind saying this could be the beginning of the end for her job because she is hesitant to continue working for people that obviously don’t wish to support her.

    Anyway, there is every chance this whole situation could be a blessing in disguise, as it could mean that she will be in the position where she can work for our own business. I currently work in the business by myself and some extra help and support would be valuable as I am finding it difficult to do everything myself.

    Now, it may seem like a silly question with obvious answers, but, for some clarity, apart from admin tasks that she is capable of, what could she help the business with? What could she help me with to take the pressure off? What could an extra set of hands be useful for in the business these days?

    If there are couples running a business together and one of them does the “hands-on” work (as I do), what things does the second person do? How does this work for you two?

    Marketing? Client acquisition? Networking for the business?

    She would need to learn new skills as she hasn’t done any marketing before, but of course there are plenty of courses available.

    Thanks for the guidance!

    #1223077
    Paul – FS Concierge
    Moderator
    • Total posts: 3,120

    I can’t help in the detail but can assist in the broad strokes.

    From a business perspective, having extra capacity is great but there is also ultimately a cost – the opportunity cost of your wife not generating an income from elsewhere.

    So what this means is that your wife’s role should have a net positive impact on the business – her work should “pay for itself” or actually add profit to the business after all costs including her payments.

    So I recommend that you look at the levers that make the business work. Customer acquisition is normally one. So is customer retention. Are there any “switches” you can turn on that you couldn’t previously because you lacked capacity?

    Similarly, if your wife can do tasks that increases your capacity to be doing more hands on work, therefore being able to earn more income, that will help to bring in more money.

    The other major consideration is a situation where you are working a completely unrealistic schedule just to get everything done. In that case, your wife’s input could be like a much needed relief valve. If your income can support both of you already and you can move to a sustainable schedule, your income may not improve but your quality of life and your relationships may.

    Generally speaking, people thrive at tasks they are good at and that they like doing.

    If your wife deviates too far from that, she might not do well.

    I hope some of this helps.

    Cheers

    #1223078
    mediaman
    Member
    • Total posts: 130

    Great, thanks for some clarity, Paul.

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