5-29 * Wisdom from Carol Farrar
Hello, WomanUP!® Community!
Sara Sutachan shared the latest updates on the "Best Practices Guidelines".
Following her update, we had a WomanUP!® WaveMaking Wisdom chat with Carol Farrar, Broker/Owner of 1850 Realty.
Have you ever thought about going into business with your spouse/partner?
Carol will be sharing her story around working with her hubby, Eric. Hear how they find JOY in working together and ways to make your journey a bit smoother through the lessons she's learned along the way! Click the image below to watch the replay.
Prefer to watch it on YouTube? Click here.
5-29 Wisdom Segment Show Notes:
Carol Farrar is a fierce female who launched her Real Estate Brokerage, 1850 Realty, in 2013 after deciding she could create an environment that supported her personally & professionally. Carol balances her 15-year career in Real Estate while raising her 3yr old son alongside her husband who has also been her business partner for the past 6 years. Carol served as the President of her local Realtor Association in 2018 while undertaking a complete home renovation & watching her son take his first steps between moving boxes. Carol has been a dedicated volunteer at the state level, having served as the CAR YPN Chair in 2017 while being pregnant with her first child. Today, Carol will share how she loves working with her husband & how they ended up on this path. Please welcome, Carol Farrar.
This week's topic: Working with Your Spouse and Loving It!
1: How did you decide to work with your husband? Did he want to do it?
We’ve been together for 17 years (I don’t feel that old) and he worked with his family business which helped support me in getting a start in Real Estate. Initially as a mortgage loan officer then turned Realtor. As my career developed, we had opposite schedules. I worked weekends and he was out the door before 7am & not home until after 7pm on weekdays. The lack of time off together was wearing on us. We finally decided our future needed to look different & that meant a BIG change, for us.. He was excited but also intimated, so was I if I am being honest. I built a strong business but would it be enough to sustain us financially? It was adulting goals like no other! As they say, if your goals don’t scare you, they aren’t big enough!
2: What was the defining moment in your business partnership?
Having a baby changed EVERYTHING! I wear the Sales & Marketing hat while Eric is focused on compliance & operations. We had built a team that left us high & dry when I was 7ms pregnant. It rocked our world but from that moment we knew that we are stronger together and the love we have for our baby strengthened our bond, both in our marriage & our business. The time we contributed to helping others grow their business to only leave us while we were most vulnerable led us to shifting our attention back on us, creating a life that allowed for flexibility & freedom but more importantly, happiness.
3: What’s your advice to someone who’s thinking of taking the partnership plunge?
Define your role quickly & early into the business partnership. We knew that working together would be challenging since we both are strong-willed people. The saving grace was finding an outlet outside of our business. While Eric was getting his license, he threw himself into volunteering for the Sheriff’s Department and today is a sworn volunteer deputy. As for me, I dedicated time to the local & state association. Now, we focus on spending more time at home with our son which means carving out weekly date nights. Even though you work together, you have to make time for each other outside of business & home hours. The hard part is NOT talking about work or the baby so we talk about our dreams & goals and I try not to overwhelm him with all of my inspired ideas for our functional farmhouse.
4: Extra thoughts, wisdom, or stories to share?
Give each other grace. We are only human and expanding from your comfort zone is harder than it sounds. Being respectful of one another and being intentional about personal time both with family & alone is what helps the daily flow. I always say if it’s not on the calendar it doesn’t exist. Flexibility is necessary but so is dedicated time to a task.
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