Investors are often suspicious of husband-and-wife companies. What if they break up? Their business will ruin as well.
But we have the stories of popular power couples who managed to build a successful business together.
1. Beyonce and Jay Z
The tandem of Beyonce and Jay-Z is called one of the most influential couples in modern show business, and not without reason. The family managed to earn more than $100 million on tickets for their joint show.
Moreover, the spouses skillfully hold interest in themselves. Well, no one argues that marriage is always serious work, but only a few can successfully monetize it.
By the way, you can also start dating black women, and who knows, maybe you will also become good business partners.
2. Tom Hanks and Rita Wilson
Tom Hanks and Rita Wilson’s production company made many famous films. For example, the movie The Outcast is the brainchild of the famous couple’s production company.
In 1998, co-founder and producer Gary Getzman signed an exclusive deal with HBO, and Hanks and Wilson’s production company expanded and made top-notch films.
3. Jin Suk and Do Won Chang
While working at a gas station, Won Chang noticed that the best cars are driven by businessmen from the fashion industry. He took a job in a clothing store to find out more about the business.
Three years after arriving in America, Jin Suk and Do Won Chang saved up $11,000 and ran their store Forever 21. In the first year, their sales were $700,000. Thirty years later, the chain has grown to 790 stores in 49 countries.
The fortune of the spouses is estimated at $2.6 billion. And Forever 21 is still a family business.
4. Julia and Kevin Hartz
They met at a friend’s wedding and quickly realized that they could become excellent partners not only in life but also in business. As a result, they were engaged in organizing their own wedding ceremony and creating their own company Eventbrite.
Julia later admitted in an interview that before meeting her husband, she didn’t even suspect that she had an entrepreneurial drive. Julia and Kevin ran an online platform for event planning, promotion, and ticket sales in 2006.
More than 2 million events a year, over 500 employees, and an annual turnover of more than $5 billion – these are the current indicators of Eventbrite.
5. Lisa and Brian Sugar
Lisa started publishing her food posts in 2005, and, in six months, she got a million readers a month. The audience grew, so the couple left their jobs to develop the site. Now PopSugar is an Internet resource with 2.5 billion views per month.
Lisa and Brian share responsibilities: he is concerned with the financial side and she writes content. They trust each other’s opinion, and the couple jokes that the hottest family disputes arise not over the business but over the dinner menu.
6. Jada Pinkett Smith and Will Smith
Jada and Will met while auditioning for the role in The Fresh Prince of Bel-Air. The actress didn’t manage to act there, but she became a good friend of Will Smith.
Over the years, their relationship has grown into something more: in 1997, they got married, and now they are raising talented children. The couple also ran their production company and acted together in films.
7. Nina and Tim Zagat
Nina and Tim met while studying at Yale University. Lovers of good food, Nina and Tim asked opinions of friends and acquaintances about Parisian restaurants.
Back in America, they began compiling a guide to New York restaurants. Sometime later, they founded the restaurant guide Zagat, which remains one of the top restaurant ratings along with Michelin.
8. Cass and Michael Leserow
Cass and Michael are serial entrepreneurs. Their most successful family venture is Buddy Media, a social media marketing company. In 2012, it was bought by the developer of CRM systems Salesforce.com for a solid $ 745 million.
In 20 years of marriage, the couple produced three startups and three children. Honorable list of achievements! Commenting on family business successes, Michael Leserow says: “Choose people whose strengths compensate for your weaknesses as co-founders of your new company.
My wife and I complement each other perfectly. We are like Tom and Jerry. I focus on ideas, investments, sales, strategic planning, and she deals with finance, HR, marketing. “
9. Ben Falcone and Melissa McCarthy
The hearts of these two talents are connected forever. Both of them are comedic actors, and he is always happy to play along with her in joint work and in business. The couple is engaged in the production of films.
In their production center, they help many directors to make their dreams come true. The corporation was founded in 2013. The company has released a huge number of films, where Melissa herself mainly performs the main role.
10. Debi Mazar and Gabriel Korkos
Actress Debi Mazar and the chef got down to business by opening their own TV cafe on the cooking channel. They published a cookbook, opened a luxury restaurant in Brooklyn.
11. Bill and Juliana Rancic
The famous couple has been happily married for over 10 years, owning their entertainment and media businesses. This does not prevent them from being involved in co-ownership in other corporations of mutual friends.
12. Kim Kardashian and Kanye West
Recently, there has been discord in this couple. The public is interested in how they will divide the property in the event of a divorce. For this couple, the business is their union.
They both attract public attention with scandalous stories, earning millions of dollars on this. For their joint appearance on the covers of press, print, TV shows, they demand fabulous fees.
How Do You Build a Successful Couple Business With Your Partner?
Of course, there is always a risk of losing not only business but also relationships. Therefore, in theory, you need to agree on everything “on the shore”. Very few people discuss this in advance.
It is difficult to predict with a partner what will happen if you break up. The main advantage of a family business is its high involvement. Many tasks can be solved not only during working hours but also at home. Or, it happens, some interesting ideas come to your mind, for example, in the evening — and you can immediately discuss it.
A huge plus is that you can take risks and take global steps because there is a person next to you whom you trust 100 percent and who supports you.
What advice should you keep in time? Firstly, each of the spouses should have areas of responsibility and duties in the company. Two people should identify their strengths, and each has its own direction. You should not distract each other or interfere, even if you go hand in hand.
Secondly, everyone should have a personal space. You can introduce some interesting habits like coming home or commuting to work separately. It really “invigorates” the relationship.
Joint business is very convenient — there is someone to consult with and criticize your decisions. The best option is when your business partner is your significant other because you are on the same side of the barricades.
If you manage to follow a certain work-life balance and separate professional and personal issues, your union will be unbeatable. Business troubles should not affect family relationships. In this case, even if people get divorced, they can continue to do business together.
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I am Adeyemi Adetilewa, a media consultant, entrepreneur, husband, and father. Founder and Editor-In-Chief of Ideas Plus Business Magazine, online business resources for entrepreneurs. I help brands share unique and impactful stories through the use of public relations, advertising, and online marketing. My work has been featured on the Huffington Post, Thrive Global, Addicted2Success, Hackernoon, The Good Men Project, and other publications.