Divorce Attorney Scott J. Stadler

    • 10 APR 19
    How Entrepreneurship can Lead to Divorce

    How Entrepreneurship can Lead to Divorce

    Even if you do not have a rigorous daily schedule, carrying on a romantic relationship can be difficult. If you are an entrepreneur trying to run a business and also have a successful relationship, you are bound to fall short. Either your marriage is going to fail or your business is—or maybe even both.

    A business requires a lot of time on your part. So does a relationship. If you only spend a few hours a day running your business, it is likely not going to succeed. Business owners put in 12-hour days for a reason.

    The same goes for a relationship. You cannot expect your significant other to be happy that you see him or her only once a week. When people are in a relationship, they expect attention from their partner. Without spending time together, your relationship will never move forward. In fact, it can even deteriorate and lead to a messy divorce.

    Entrepreneurs get divorced at a high rate. Even Jeff Bezos, the CEO of Amazon, is divorcing his wife of 25 years. With more than $100 billion at stake, it is expected to be the biggest divorce ever.

    Let us think about the most common reasons for divorce. They include neglect, lack of communication, financial problems, and having different goals. Being married to an entrepreneur can encompass all four of these issues. A business, particularly a new one that is not yet established, is bound to have financial problems. The goal of the entrepreneur will be to grow the business, while the spouse will likely have other goals in mind. Neglect and lack of communication are all too common in marriages involving a business. The entrepreneur is often too busy working to communicate with his or her spouse. The spouse feels neglected and the marriage eventually breaks down.

    Why do Divorces Happen Among Entrepreneurs?

    Marriages require a lot of hard work. However, many people think they can simply coast by with just the bare minimum of effort. This is not true at all. Even if you have been married for several decades, your marriage is going to need ongoing maintenance. There is no way around it. Gray divorces are on the rise for a reason. If you neglect your marriage at this point, your partner will get frustrated and move on.

    For some reason, opposites attract. Entrepreneurs take risks by nature, and they are naturally attracted to those who do not take risks. Right off the bat, this combination does not make for a successful marriage. Entrepreneurs would do well to partner up with like-minded individuals who share their risky behavior. That way, the two will better understand each other.

    An entrepreneur is investing money into his or her business. This is itself is a risk that can lead to many an argument. The more cautious spouse will be overwhelmed with the behavior of the entrepreneur. After all, entrepreneurs will have to deal with many undesirable situations, such as high credit lines, missed payments, and collection calls. The couple’s home or vehicles may be used as collateral for loans. This can be a frightening situation for many, but it is just part of an entrepreneur’s job. Nobody is successful without some degree of risk, and if the spouse cannot understand this concept, then the marriage is doomed.

    It is helpful for entrepreneurs to understand the concept of balance. When a business is brand new, it is easy for entrepreneurs to get so caught up in it that they neglect their other responsibilities and priorities. It is important for them to set aside time for their significant other, children, and other responsibilities. Those who are in relationships with entrepreneurs should do their best to support their partners without nagging or reacting negatively.

    It is also important to understand that entrepreneurs often go through a wide range of emotions. They may be ecstatic one day, scared the next, and angry the next. Businesses have a way of doing this to people. After all, they change from day to day. You never know what to expect when you run your own business. It can be frustrating for a partner to see their loved one go through a wide range of emotions, but it is to be expected.

    The spouse of a business owner will often not receive the attention he or she requires in the relationship. The business will take up all of the entrepreneur’s focus, along with the people required to make the business profitable such as employees, shareholders, customers, and vendors. This is just something that the spouse of an entrepreneur will have to accept. It is not an easy thing to do, but it is better in the long run to be supportive. As a partner of an entrepreneur, you will have a love-hate relationship with the business. However, you do have a choice, so make sure you understand what running a business entails before jumping into a relationship or marriage with a business owner.

    Seek Legal Help

    Divorce can happen to entrepreneurs of all ages. Maybe they are just starting a new business or have been running their company for decades. Both marriages and businesses require a lot of time and attention, and sometimes it is difficult to do both successfully.

    If you are an entrepreneur seeking divorce, there are many things you need to consider. Discuss your concerns with Palm Beach divorce attorney Scott J. Stadler. He can assess your situation and help you protect your business during this difficult time. Schedule a consultation by calling (954) 346-6464.