Episode 57: Working with Your Spouse
Today, I’m excited to talk to Amy & Adam Fazackerley, Co-Founders of Lay-n-Go, a company that designs and manufactures innovative organizational solutions for life, play, and travel.
I’ve interviewed them both individually, so if you haven’t listened to those episodes, add them to your playlist!
But today we’re doing something different - and talking to them about what it’s like to work with your spouse day in, day out.
Welcome, Adam & Amy!
In this episode…
Instead of the speed round, they start out with a few either / or questions. Both Amy and Adam both feel it is easier to work with their spouse than anyone else in the family! They have very distinct strengths and weaknesses, which, perhaps is part of the secret. Adam laughs as he shared his weakness is he is always in trouble and Amy’s strength is she is forgiving. Amy shared a true benefit in being founders together is the ability to work things together versus another founder who hops in his or her car and drives away.
Together, they run their business a different way. They are lifestyle based, work hard, and always want what is best for their family. However, it isn’t always smooth, and days do not always start out with having breakfast casually. What is really important is really understanding the other person. For Amy, balance is really important to each of them.
Stephanie wanted to know if they feel as though they are working more than an average person because they work together. Both, Amy and Adam, stated yes and that is the nature of the base. They both agree their kids have been a pretty cool part of the journey. Making best use of their time, such as in the car, it very important. They’re very focused and intentional on what they want their business to be.
After ten years in business, the number one question is where do they want to be in five years or ten years and what do they want it to look like? What they do fall back on is the trust they have in each other.
One of the other things they like to do is give back by teaching the next generation about the things they went through in starting and running their business. Together they are very active in extracurricular entrepreneurship things. Working with other people is what makes them tick.
Other than a shared vision, there are other parts of working together that have contributed to their success. They include communication, trust, and really looking at going back to the strengths. Adam feels understanding those hot spots is ultra-important. For instance, if there is friction, Amy does not want any part of that. It isn’t always as easy as a line down the middle.
When it comes to other founders, there are certain things they should look for, but there are also those they should avoid. Adam shares that a lot of times the teams that come to them are paired up, but if they’re not, just remember you are picking a partner so find someone who has the strengths where you may lack. If there are issues between partners, they like to push for resolutions that are fair.
Amy shares that it is important to stick with what you love, what will get you out of bed every day and stick with that. It shouldn’t feel like work. Just look at what drives and motivates you.
Before involving a family member in your business, there are some questions that need to be asked of yourself. Such as, “What do you want out of this?” In fact, that should be a mutual question. If everyone wants success and progression, it’s a pretty good start. If you are going to involve family, figure out ways they will help build the business but also do it in the family role. They do consider their friends as their family as well. For them, their friends also started as their first focus groups.
On the flip side, everyone needs to make sure it is working for those involved. Keeping open lines of communication are so important, family or not.
They close with one piece of advice for others who are going to work with family, and that is to just have fun and move on. Also, give one another enough slack to make mistakes, forgive and learn.
Resources Mentioned in this Episode
- LinkedIn Profile : https://www.linkedin.com/in/adamfazackerley/
UUNET : https://en.wikipedia.org/wiki/UUNET
Fortify.vc : https://www.crunchbase.com/organization/fortify-ventures
Lay-n-Go : www.layngo.com
PATENT 9,0984,459 (July 2015) : https://patents.google.com/patent/US9084459
PATENT 10,016,036 (July 2018) : https://patents.google.com/patent/US10016036 - PATENT 10,561,213 (February 2020) : https://patents.google.com/patent/US10561213B2
- Finance-Ability
- Stephanie Sims
- Stephanie Sims LinkedIn
Sponsor for this episode...
Finance-Ability is a boutique consulting firm dedicated to helping business owners and startups find their best options for growth funding. Founded by financial strategist and transaction expert Stephanie Sims, Finance-Ability can help any business owner identify the right funding partners and get through fundraising as painlessly as possible.
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