021: Running A Business With Your Spouse
How Do You Deal With
Deep Dive
Why did Jennifer and Michael decide to start a business together?
They wanted to create a product that would be regularly consumed and better the lives of others, and they felt they worked well together as a team, complementing each other's strengths.
What challenges did Jennifer and Michael face when starting their business?
They almost lost their house, struggled with barely enough money to eat, and faced financial stress that led to near foreclosure. They also dealt with the pressure of not wanting to take a nine-to-five job and the stress of running a business with limited funds.
What is the name of Jennifer and Michael's business, and what does it sell?
Their business is called His and Her Bar, and it sells the world's first aphrodisiac snack bar made with all-natural superfoods.
How did Jennifer and Michael meet?
They met on the beach in Jacksonville, Florida, where Michael used his friend's daughter as bait to start a conversation with Jennifer.
What was the lowest point for Jennifer and Michael financially?
Jennifer had to ask her aunt for $10 to get gas money to attend an event, which she felt was one of the lowest moments of their financial struggles.
What advice do Jennifer and Michael have for couples considering starting a business together?
They emphasize the importance of communication, playing to each other's strengths, and not being afraid to go through tough times together. They also suggest keeping the business sacred between the two partners and not seeking outside opinions too early.
What are the key ingredients in His and Her Bar?
The bar contains seven ingredients: maca, cashews, almonds, vanilla, dates, chocolate, and a hint of cayenne.
How did Jennifer and Michael manage their financial crisis?
They sold their house at full price, which allowed them to pay off their mortgage and start fresh. They also worked hard to keep their business afloat despite the financial stress.
What is the significance of the name 'Foreplay' for their snack bar?
The name 'Foreplay' represents the beginning of their brand and is inspired by the idea of doing something different, similar to how Elon Musk names his Tesla models with letters instead of years.
What strengths do Jennifer and Michael bring to their business partnership?
Jennifer is strong in social media, marketing, and vision, while Michael excels in numbers, nutrition facts, and precise measurements for their product. They also both enjoy creating video content and cold-calling together.
- Overcame near-foreclosure and financial struggles.
- Built a successful business together as a couple.
- Emphasize the importance of resilience, teamwork, and clear communication.
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