Business Partnership as a Couple

We have discussed the ups and downs of business partnerships here and hopefully you have an insight into what makes for a successful business partnership. But have you considered a business partnership with your life partner?

Jo Ann and Bob Shirilla of Poland, OH have been married for 39 years, most of which they were working in two very different industries. Jo Ann, 62, ran and operated a gift shop while Bob, 64, spent 30 years in the information technology field.

Jo Ann knows what kind of flexibility working for yourself can provide, as her time in charge of the shop afforded her the chance to care for the couples’ two daughters. But when their children grew up and finished college, the two decided to retire. The rest was history.

Jo Ann closed her store but had plenty of leftover gift shop inventory so Bob used his tech-savvy to help her set up an e-commerce website. Bob tells Forbes he was “neither financially nor emotionally ready to fully retire,” and with their daughters out of college, they felt a financial risk was in the cards. So Keepsakes Etc. became an online personalized gift shop that fulfilled both of their desires to only semi-retire. Things were going so well the couple has even expanded to a second website and a much larger inventory. Their second website, Simply Bags, sells backpacks, totes and fashionable bags for everyone.

The couple’s success might have something to do with the complementary skills they’re able to offer to the business. Bob is in charge of business processes, internet marketing and technical difficulties while Jo Ann runs operations and merchandising. But since opposites don’t always attract, Jo Anna and Bob make sure to do their respective work in different locations to ease any potential tension.

While it might seem like the two are busy, they’re not so busy that they’re missing their retirement. The stores offer the Shirillas a much-appreciated flexibility in hours. They’re able to travel together all around the country reaping the full benefits of no longer having to punch a clock. They’re having such a great time that even though Jo Ann warns against the potential financial risks of going into business for yourself, she offers that her only regret is that “I wish we would have done this earlier.”

_________________________

If you’re a late-life entrepreneur seeking help with a new or existing business, Prime Strategies can offer the necessary guidance and expertise to help you reach your goals.