Should you start a business with your spouse?

Start at the very beginning
Can you start a new romance and a business with someone at the same time?

Perhaps you're not yet married and you're interested in starting a business with your new boyfriend or girlfriend. While experts are a touch wary about this--you're still just getting to know that person, after all--they do offer some tips. "Be sure to create as structured and formal arrangements as you would with any business partner," says Alicia Fortinberry of Fortinberry-Murray Consulting, a coaching business that specializes in helping people build solid relationships within a business setting. "This is especially important because you don't know each other that well, and your finances are probably separate." She and her husband and business partner, Bob Murray, point to the importance of developing trust, a clear business plan and specific job descriptions.

Proceed cautiously, says Linda Miles, co-author of The New Marriage: Transcending the Happily Ever After Myth. "Consider the infatuation factor," she says. "Set up your partnership in stages, if possible, to evolve as your relationship and level of commitment change." She likens starting a business with a new romantic partner to a connect-the-dots picture: If there are 500 dots, you might be seeing only 15 when you start, so build in safeguards. And like any good business plan, she says, "View your business and your relationship as growing machines that you learn to repair efficiently. And share a sense of humor."

Keep in mind, though, that the relationship might not last forever. "Hope for the best and plan for the worst," says Miles. "Clearly define role expectations, as well as how a partner can opt out." Set formal, legal agreements in writing detailing how the business will be divided if you break up or want to opt out of the business for any reason. Also, have a contingency plan in place in the event your new romantic partner falls short of his or her business obligations.

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