Image: Rick Obst
Mumpreneurs hear one sentence all the time: “business is bad for the family!” Do horror stories of families getting ripped apart exist? Of course. Does it mean the same will happen to you and your loved ones? No, not at all. There are pros and cons and they need your full, undivided attention seen as you are glue holding everyone together. But, even if issues do raise their head, mums can find the solutions which should keep both parties running on an even keel. To show you how here are four reasons family and business do mix. Let’s go!
Relationships Come First
So, you’re in business with your other half and everything is going smoothly. Sorry to burst the bubble, but it may not stay that way for the long-term. In the beginning, there is a honeymoon period and reality begins to set in and cause small rifts. It’s nothing a rock solid relationship can’t handle, but it’s essential to maintain perspective all the same. For instance, never let the company come in between you and your loved one. When arguments do occur, remember that the important thing is coming to a compromise. Some couples even like to write a “clause” into a contract for extra security.
Don’t Take It Home
When a disagreement does happen, please don’t hold a grudge. At least, don’t do it at home when there is a different atmosphere. Yes, it’s hard to separate business from pleasure as a family because you’re intertwined. It is doable, though, as long as there is a line in the sand. As a rule, it’s savvy to agree never to take a problem outside of the office. That way, the house becomes a haven and a retreat. And, it may help you think of answers to questions because there is no pressure or tension.
Families aren’t in business together and still pay the price. Why? It’s because a decision impacts everyone from a financial point of view. Consider taking out a loan to create a new business. Should the agreement sour, there is a chance the family may lose the house. Homelessness is a heavy price to pay for kids that had nothing to do with the company in the first place. The good news is that unsecured credit cards for fair credit can help. In fact, any loan that isn’t “secured” is an advantage as bankruptcy will wipe out the balance. It’s a last resort, but at least it’s an effective contingency plan.
Another thing mums have difficulty with is spending less time at home. As the boss, you have to set an example for everyone else to follow. But, you can do this by working from nine to five and being productive during work hours. To eliminate overtime, you should use outsourcing companies. Thanks to the low costs, outsourcing is just as cheap as doing a task in-house but without the time wastage. Customer service and marketing are two examples yet there are plenty more.
What do you think – can mums mix a family with a business?