Show notes from podcast episode 78.
Having support on the home front is critical. In this episode of the podcast Nick talks with his wife Michelle about the struggles along the way and how they were able to overcome the unique lifestyle that is entrepreneurship.
A few key takeaways:
#1 – Communication
Being on the same page on a day to day basis about feelings is important. If you let them fester and build up without talking them out it only gets worse and builds more stress. Keeping your family in the dark when it comes to risk, planning, goals and more isn’t fair to anyone.
#2 – Expectations
When expectations are unknowingly or unfairly put on one another its a recipe for disaster. Communicate what is expected, the plan and how each party can be held accountable and both people can feel good about the roles and division of labor.
#3 – Aligned goals and eagerness to sacrifice to achieve them.
Building a business is a family sacrifice. Everyone suffers initially. You’ll miss time with your wife. You’ll miss time with your kids. But its all about achieving the goal of financial and time freedom 3 or 5 years from now. You MUST have everyone on board and supportive of those goals. If one party is not on the same page it will be impossible to deal with the stress of business while also managing stress and resentment in the household.
#4 – Confiding / advice / blind spot recognition
My wife is great at spotting when things just aren’t right. She can walk into a room and feel tension and more often than not predict the parties involved and why. She’s an excellent person to lean on for advice because she knows me so well. She knows what I’m good at but more importantly she knows my blindspots. She knows what information I could be missing or ignoring when I’m about to make a big decision. She helps me identify and avoid the blind spots that could cause catastrophe.