#77 – Balancing It All: Laura and Craig Davidson’s Experience Building Tag Digital Together
Introduction:
In this podcast episode, Laura and Craig, co-founders of Tag Digital, discuss the dynamics of working together as a married couple.
With nearly 14 years of experience in both their business and personal life, they explore the advantages, challenges, and the evolution of their partnership.
The conversation delves into the pros and cons of running a business as a couple, offering insights for those considering a similar path.
The episode is rich with reflections on their journey, advice for others, and anecdotes from their shared experiences.
Key Topics:
- The benefits and challenges of working with your spouse
- Evolution of motivations and roles within the business
- Balancing family life with business responsibilities
- The impact of travel and routine on their partnership
- Financial dynamics and their effect on the business relationship
- Advice for couples considering starting a business together
- Reflections on their journey and key milestones
The Benefits and Challenges of Working with Your Spouse
Craig and Laura open the discussion by highlighting both the freedom and the responsibility that comes with working together as a couple.
They emphasise the flexibility it affords them, such as being able to attend their children’s events without needing to request time off. However, they also touch on the downside of always being “on call,” even during vacations.
Craig notes that while many people are skeptical about working with their spouse, he believes that with a solid relationship and clear rules, it can be a rewarding experience.
Laura reflects on how their mutual understanding of each other’s pressures is a significant advantage, reducing the need for extensive explanations that might arise in other partnerships.
This shared understanding, combined with their aligned goals, has contributed to their success, though it requires continuous communication and honesty.
Evolution of Motivations and Roles Within the Business
As the business has grown, so have Laura and Craig’s roles and motivations. Initially, their focus was on escaping traditional jobs and enjoying the freedom of entrepreneurship.
Over time, as they matured and their responsibilities increased, their motivations shifted towards creating a sustainable business with shared goals for their family.
They discuss how they have naturally fallen into different roles, with Laura being more client-facing and Craig managing internal operations.
“You’re very good at selling a really kind of friendly, bubbly personality and your perfect face to the company. Whereas I’m much more of a kind of logical, sensible thinker.” – Craig
This division of labor has evolved organically, shaped by their personalities and strengths. While they sometimes clash due to their control-oriented nature, they have learned to respect and trust each other’s areas of expertise.
Balancing Family Life with Business Responsibilities
The couple shares their strategies for maintaining balance between their family life and business responsibilities.
With three young children, they have developed routines that allow them to be present for their kids while still managing their growing business.
Laura mentions the importance of being disciplined with their time, ensuring that they have dedicated family moments without distractions.
They admit that their work often bleeds into their personal time, but they have adapted to this by setting clear routines that work for their family.
“I can’t stand the work-life balance question. I feel like that’s really, really difficult with a young family and a growing business.” – Laura
The discussion also touches on the challenges posed by travel, with Laura often taking on more client-facing roles that require her to be away from home.
They acknowledge that this can disrupt their routine and create tension, but they have learned to manage these challenges by being selective about what they say yes to.
Financial Dynamics and Their Effect on the Business Relationship
Laura and Craig discuss how their financial decisions are made jointly, which has helped them avoid one of the most common causes of conflict in marriages—money.
“When you are both earning from the same business, from the same pot, you and I make the exact same money and we have one bank account. There’s no hiding anything.” – Craig
By sharing the same business and earnings, they have eliminated any potential financial disputes.
They also highlight the importance of having a shared vision for their financial future, which includes investments and spending habits.
This alignment has been crucial in maintaining harmony in both their personal and professional lives.
Advice for Couples Considering Starting a Business Together
Drawing from their own experiences, Laura and Craig offer practical advice for couples thinking about starting a business together.
They emphasise the importance of communication, trust, and having fun together in the business.
They also caution that while the risks might seem higher when starting a business as a couple, the benefits often outweigh the potential downsides.
“I would say just go for it because until you try it, you’re never going to know whether it’s going to work for you.” – Craig
Craig shares that having a solid relationship before embarking on a business venture is crucial, as the dynamics of the partnership will inevitably change as the business grows.
Reflections on Their Journey and Key Milestones
The podcast concludes with Laura and Craig reflecting on some of the key moments in their business journey.
They recount the excitement of achieving their first million-pound month, hosting significant events, and the pride they felt in growing their team.
“I just couldn’t believe that in one month we generated a million pounds, whereas like we went years and we wouldn’t even do that in a year.” – Laura
They also discuss the importance of learning from each experience, whether it’s hiring the right people or managing cash flow.
These milestones have not only marked the growth of their business but have also strengthened their partnership.
Conclusion
Laura and Craig’s conversation provides valuable insights into the realities of running a business as a couple.
Their journey has been filled with both challenges and triumphs, and their success has been built on a foundation of communication, trust, and shared goals.
For any couple considering a similar path, their advice is clear: approach it with a strong relationship, a willingness to learn, and a sense of fun.