How You Can Get Your Family on Board with Your Start Up

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Many people have great ideas they wish could be turned into a business. However, not as many people actually make the attempt to turn those ideas into a reality because something holds them back.

Sometimes the thing holding them back could be a lack of money. Other times it may simply be because they just don’t have the time. Still others don’t follow through due to a lack of support structure in their personal lives.

But there are ways to get your family on board with your start up, even when you feel they are skeptical and not supportive that you will succeed.

1. Success Breeds Success

One thing that can help get your family on board with your start up is if you are already successful in the job you currently hold. You can point out that success and remind them that you will also be successful in your start up.

In addition, when you are at the top of your game in the job you have now, you will have more confidence to take on a new project or business. Success breeds success is a quote many live by and you can too.

It means one success makes you feel good. But it also leads to additional success because you work that much harder to succeed and get that feeling again.

2. Have Funding in Place

When you already have funding in place to start your new venture it can build the confidence level of your family. Rather than feeling uncertain about how this will affect them financially they may feel more secure about it.

You can get your family on board with your start up if you line up money from savings, investors, or other sources. A loan should be a last resort because your family may view it as a risk that puts their current lifestyle as well as yours in jeopardy.

Because of the high rate of business failure their concerns are well founded. Household bills must be paid and can only be slashed so far to help fund your start up.

To get your family behind you, figure out financing before you approach them. With your finances in order and money to start a new business or entrepreneurship your family will be more likely to support you.

3. Discuss Benefits

Another way to get your family on board with your start up is to point out the benefits to everyone. The business can provide a greater income potential for all, as well as being a great investment opportunity. In addition, it may be possible to enjoy a more flexible work schedule.

For example, it might be possible to have a staff member run a storefront business for you so you can attend your child’s school play or frequent ball games. The current job you hold may not allow for those absences.

A greater income potential may be possible as well with your start up. Of course, it may not happen immediately as it could take time for your business to reach full income potential. Point out that with patience and hard work it might be possible to enjoy luxuries you currently can’t afford.

Depending on the type of business you are starting, you could end up with a family business you pass on to your children. Find out if your family has interest in the business and if they would be willing to carry on after you pass it on to them.

As you can see there are a few ways you can get your family on board with your start up so you can turn your great ideas into a successful business. Work to be successful in your current occupation, get your finances in order, and talk to your family about the potential rewards of business ownership.

Source: B2C