By O.L./Sway Buckley
Every couple is different.
Different capacities.
Different talents.
Different personalities.
So on and so forth.
But over the last several years, we've observed a few similarities while equipping married couples to retire one spouse to work in the business full time. This can have many different looks based on the goals and lowest-hanging fruit opportunities. If you desire to retire your spouse to work together in the business, this list will be super helpful in your preparation season.
1️⃣ First, understand that there is more than one way to reach a desired goal. It's essential to be flexible with the method while staying focused on the goal. Sometimes we see a glimpse of someone else's path and automatically assume that (because the only way we've been exposed to) it's the only path that works. This is an essential foundation because otherwise, you can find yourself frustrated and trying to force a path that might not be the best fit.
2️⃣ Next up, create a plan that transfers your skillset to a new role(s) you can cover in the business that will generate growth and increase profitability (that's the key). The new plan you two create must show how additional internal support will ultimately impact the bottom line. That's the part many overlook.
3️⃣ Lastly, for today, know your numbers. In order to retire, that doesn't mean that you'll need to replace your income to transition. But instead, understand you'll need to replace your expenses. This often makes couples smile when they realize they are closer than they thought to their goal. There will likely be new expectations around the home budget for a season. But if you're willing to work together through the stretching seasons, it'll be worth it on the other side.
💥 Bonus: Sustainable growth takes time and consistency. One of the main tools we use throughout the year to remain consistent is a Quarterly Marriedpreneur Meeting. This focuses on increasing the business revenue and, more importantly, supports our marriage instead of straining it. We're doing a free training sharing our Q2 Marriedpreneur Meeting template. If this would be helpful for you, save your spot for the training right here.
Here's to living purposefully, powerfully, and profitably in sync,
O.L. & Sway
O.L. is a former banker turned real estate consultant and entrepreneur. Sway is a former CEO of a staffing firm she started on her dorm room floor to pay for college. Together they co-own Marriedpreneur Life Consultancy, equipping married entrepreneur couples with high-level systems to scale without strain. They're the co-hosts of The Marriedprenuer Life Podcast, which was praised as one of Wedding Wire's top relationship podcasts. Learn more at MarriedpreneurLife.com.