Isa Senkumba
Will you still do business with your ex?
Divorced but still together: Microsoft Founder and American billionaire Bill Gates divorced his wife Melinda French Gates but the duo still run the world’s biggest Philanthropic Bill and Melinda Gates Foundation together
As two people work together to build a strong marriage some go ahead to work together and build a strong company as well and there is no problem with that. The challenge only comes when the two decide to divorce.
There are many couples world over running family businesses. But whenever such a couple separates the second victim after children is the company or business the couple jointly owned. And it is basically this reason that makes the splitting crazily difficult.
From experience most people have a perception that if you are getting a divorce from your business partner, it is not natural to keep your company afloat. But does the struggle of an ending marriage mean the end of your business, too? Not necessarily. It also depends on the cause of the divorce
Did u know that trust is the most important component of any successful business partnership? Specifically couples whose divorce results from a serious breach of trust like infidelity are not likely to remain in business together whereas couples whose separation is simply the result of the normal loss of interest or a falling out of love may be more successful as business partners because they retain trust in each other.
In the event that a couple separates and they cannot maintain business together, one partner may buy the other out, or the business maybe sold to a third party or they will simply fold.
The few family businesses that may survive a fold and continue despite the breakup are those when one or both partners realize how important they are to each other financially as well as the ugly repercussions of the split.
It is possible for someone to remain important in your financial life even when they are no longer emotionally attached to you. A case in point is when you even have children together.
For couples that have decided to separate but remain doing business together it is important for them to focus on business interests. When you were still romantic partners, the two of you had a joint interest to enter a relationship and then marriage.
Furthermore, you had your reasons and interests to start a company. It is therefore necessary to sit down and discuss your mutual business interests and the vision for the company and by doing so you might just find a common ground. Unlike previously when your relationship was based on romance, now try basing your business relationship on respect.
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