Couverture de Episode 43: 4 Reasons Marriage and business fail

Episode 43: 4 Reasons Marriage and business fail

Episode 43: 4 Reasons Marriage and business fail

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 "And because I already knew that from the beginning that if I'm taking money out of the company and I'm putting it into an apartment where I can live lavishly, there's not going to be enough money to make the company work." - Ron Lee 4 Reasons Marriage and business fail Marriages and Businesses fail for the same reasons. In this episode, Ron and Lexie discuss four of those. 1. Have the right mindset 2. Understand the changing market. 3. Build trust, transparency and communication. 4. Manage finances. Mastering these 4 can help improve your success. In this Podcast:   The importance of having the right mindset in business. Understanding the changing market is crucial for businesses. A lack of transparency and trust. Poor financial management can be detrimental to both businesses and marriages. In marriages, understanding the changing dynamics and seasons is important. The importance of having the right mindset in business   Many individuals embarking on their first business venture tend to adopt an employee mindset, focusing on superficial aspects like office furniture rather than practical and cost-effective solutions. Conversely, an entrepreneur mindset involves being resourceful and willing to bootstrap the business. The significance of understanding the ever-changing market   Whether in marriages or businesses, it is crucial to stay updated and adapt to market fluctuations. In the business realm, this entails comprehending the needs and preferences of customers and adjusting strategies accordingly. Similarly, in a marriage, it is vital to grasp and adapt to the evolving dynamics and needs of the relationship. The lack of transparency and trust, particularly in communication   Open and honest communication is essential for success in both marriages and businesses. Without transparency and trust, conflicts can arise, and important information may be withheld, leading to misunderstandings and ultimately failure. The importance of effective financial management   Proper financial management is critical for both marriages and businesses. This encompasses budgeting, expense tracking, and making informed financial decisions. Without sound financial management, both marriages and businesses can encounter financial difficulties and potential failure. In marriages, understanding the changing dynamics and seasons is important   What worked during dating may not work after marriage or when children are involved. Adapting and communicating about these changes is key. Resources Mentioned and Useful Links   Rate, review, and subscribe to this podcast on Apple Podcasts, Stitcher, Google Podcasts, and Spotify.   Practice of the Practice Network   Connect with the Married Entrepreneurs Visit the Married Entrepreneurs Website   Facebook   Email us at: Info@marriedentrepreneurspodcast.com About the Married Entrepreneurs Podcast   We have such a passion for meeting new people and helping those peeps who are crazy like us and have decided that two entrepreneurs who don’t follow the traditional path should be in business together while married to each other.   We met each other over 25 years ago and although it was not love at first sight, it is a love story for the history books.  We have navigated how to be married, which can be a feat in itself, and survived the early years of keeping the children alive; also not easy.  And we did all this while being in multiple businesses together.  When we say we have been there, we mean it. We have made poor choices in the past, struggled to make a profit, and had to learn not to listen to all those who say you can’t mix business with pleasure. Sound familiar? Want to join us on this journey?  We are unpacking what we have learned in this process and as marriage counselors by trade while also bringing on other experts who can help us all on this path to avoid failing businesses and divorce court.  Join us on the path to happily ever after and listen today.  
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