Two weeks ago, I opened an email from an influencer (Giovanni Marsico) addressing how entrepreneurs deal with financial stress. One thing I know for sure is if finances can be stressful for an entrepreneur, they can wreak havoc on entrepreneurial relationships.
In this email, he introduced an entrepreneurial financial expert, Pam Prior. I immediately reached out to Pam to see if we could shoot the breeze about finances and the impact on relationships. Our converstation is recorded and wanted to share it with you.
I asked her the three biggest challenges I encounter with entrepreneurial couples:
1) What’s healthy when it comes to financial disclosure of the business with the spouse?
2) What’s the financial threshold that should be reinvested into the business? At what point does money start to come back into the family instead of being reinvested in the business?
3) How do we close the financial gap between an entrepreneur and spouse who doesn’t work outside the home?