When I was preparing to get married, I noticed that my wife and I often visited TheKnot.com. Little did I know that the founders of TheKnot were actually married to each other. In fact, Carley Roney and David Liu have been married for 20 years and has been in business together for 18 years.
TheKnot was renamed to the XO Group and the company was co-founded by the Roney and Liu in 1996. Liu said that 80% of women that are planning a wedding join the website. When talking about the complicated aspect of running a business together and being married to each other at the same time, the two suggest “Don’t try this at home.”
“Cofounding a company with a spouse is really hard,” said Liu. “The rate of failure for startups is so high that you kind of attach your marriage to a business that has unpredictable outcomes.”
“As a married couple in business together you will experience highs that most couples will never experience. When you close a big deal or IPO with your spouse it’s extraordinary. But some of the lows can be unbelievably dark. Deeper and darker than other couples will likely experience. Marriage is tough as it is. To add the unpredictability of a business is really hard. You have to really make sure you’re ready for the ups and downs,” added Liu.
Carley Roney said that they are big supporters of married couples with startups and has personally invested in them. She said that couples that run companies together are talking strategy at more hours of the day than anyone else. “When they’re brushing their teeth and pillow talk?it’s all strategy.”
Liu added that if your spouse is not actually working with you, there is a chance that it could wind up in divorce because of the lack of understanding and intensity in running a company. “The passion for the business steals the attention and time.”
[Source: BusinessInsider] [Image Credit: XO Group]