It is widely believed that when couples start a business together, it has a great risk of being disastrous. There is an old cliché that mixing business and pleasure is not a smart option. These views are based on real-life examples of celebrity couples who started businesses that ended badly. On example is Tidal, a music streaming service that was set up by Jay-Z and Beyonce. It was launched in 2014 in Norway, and it initially received an overwhelmingly positive response. However, it soon collapsed and is now under Norwegian legal investigation. Another example is that of Bruce Willis and Demi Moore. They were stakeholders in Planet Bollywood, which filed for bankruptcy twice.
Amongst couple-owned businesses, some perform phenomenally well. However, these success stories get lost among the failures. Emmy’s Organics is a couple-owned business run by Samantha Abrams and Ian Gaffney. Based in Ithaca, New York, it has been operating successfully since 2009. Brooklinen by Rich and Vicki Fulop is another example of a great company run by a married couple. These exemplary couple-owned businesses inspire entrepreneurial couples all over the country who may be skeptical of mixing business with married life. Raj Properties is owned by a married Telugu couple, and they hope that their growing California-based real estate firm can motivate other couples who want to make their vision a reality.
Two People From Different Professional Backgrounds Establish Raj Properties
The world believes that married couples often cannot succeed in the corporate sector together. Jhansi Reddy and Dr. Rajender Reddy took the bold step of starting a business in a completely new and unfamiliar sector, and succeeded as a couple. Jhansi Reddy was born in Choppakatlapalem (Khammam District) in Telangana, India. She and her mother came to the United States in 1977 after the death of her father. Jhansi Reddy married Dr. Rajender Reddy in August 1982, and subsequently worked as a pharmacy technician in New Jersey while her husband was pursuing his residency. Jhansi entered the banking sector an year later and took several accounting and finance courses. After Jhansi spent four years in the banking sector and managing her husband’s medical practice, she and Rajender co-founded Raj Properties in Berkeley, California.
Taking Raj Properties Towards Success
Being from different professional backgrounds and as parents of three children, Jhansi and Rajender faced challenges in setting up their real estate firm in California. However, they maintained a healthy balance between their careers, business, and family life as they built Raj Properties into one of the most successful small businesses in California.
Shared Vision
The main reason Jhansi and Rajender were able to successfully manage their real estate business was because they shared a common vision. They always ensured that they were on the same page in regards to their business plan, and supported one another as they made their shared vision a reality.
Division of Responsibilities
When a husband and wife run a business together, sometimes they both attempt to be involved in every part of the business. This might seem like a smart approach, but it can lead a business towards downfall. The reason is because both spouses cannot be good at everything; they must complement one another. Each spouse has unique strengths and capabilities that can prove beneficial for the business in different ways. Jhansi and Rajender divide their business responsibilities based on their respective strengths and interests. While Rajender manages the off-site aspects of the business, Jhansi manages operations in the office.
Positive Attitude and Support
Raj Properties has grown from just 32 rental units in Berkeley to more than 1000 rental units all over Northern and Central California. Jhansi and Rajender have supported each other unconditionally throughout their journey. During the initial stage of their business, Jhansi wanted to focus predominantly on family. Rajender respected her decision, and they temporarily handed over management responsibilities to Reddy Realty for almost five years. In 1996, Jhansi and Rajender resumed managing their company and worked hard to take their business to new heights.
As they rapidly grew their business, they worked together through the challenges of entrepreneurship. Their mutual respect and partnership enabled Raj Properties to become one of the most successful small businesses in California. Jhansi and Rajender hope that their success story will be an inspiration to many others.
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