Black Business Month: What To Consider Before Starting A Business With Your Spouse - Page 10
- By
MadameNoire
What happens if it fails?
Before you even begin, have a conversation about what failure looks like. Some people can say that’s bad luck; others would say that’s good planning. You should have some milestones in your head. You should have specific numbers and goals you want to reach with your business by a certain timeline. You don’t want to be in the thick of it, arguing about whether or not the business has a shot. Identify what success versus failure look like before you even begin. It’s sort of like a contract. You should know, in advance, how far you’re willing to take this, and what would make you want to walk away. Figuring this out late can cause a tremendous amount of pain and conflict.
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