Ordway Law Group, LLC
Ordway Law Group, LLC
Divorce & Family Law

Exes can stay in business together if they commit to it

On Behalf of | Jun 4, 2018 | Business Divorce |

You and your spouse have built a successful business together here in Atlanta. Then your marriage falls apart. You’d both like to stay involved in the business, but is it possible? That depends in large part on how much ill will there is between you (or residual romantic feelings). If you believe that you can get along well enough to continue as partners committed to the success of the business, there are some important pieces of advice from relationship and career experts that will help you make it work.

Boundaries are essential — both in job responsibilities and, if possible, when it comes to physical space. It’s best to each have specific areas of the business that you’re responsible for. If your company is large enough that you can work in separate departments or even divisions, that’s often best.

Set clear goals for each of you that are part of larger company goals. As one advisor with CareerBuilder.com says, “If you both work toward those clear goals, it becomes a lot easier to work together than if you don’t have goals, and don’t have professional expectations of each other.”

Avoid business socializing with each other. Happy hours and holiday parties can be great for morale and team building, but they can also blur professional and personal lines. When there’s alcohol around, things can get complicated. The same can happen when you’re entertaining clients. Try taking turns hosting these social events as much as possible.

Keep your personal problems out of the office. It will distract from your work and your employees’ work. It won’t help morale if employees fear the entire business (and their jobs) will be lost because their bosses can’t get along.

If you and your ex have equal authority in the business, have a mediator either within the company (such as someone in Human Resources) or outside (like a therapist) who can help you settle business-related disagreements.

If you and your soon-to-be-ex have made the decision to keep your business and both continue your involvement in it, it’s essential to codify how your financial interests and responsibilities in the company will be divided in the divorce.

Source: Moneyish, “This is the best way to work with your ex,” Nicole Lyn Pesce, accessed June 01, 2018

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