While most of the college graduates wish to do something for themselves, there’s always an expectation-pressure from the family, which stops them from doing so. Here’s why family support is important for setting up a business.
Most of the final-years in college prefer joining corporations once they graduate.
While most of them wish to do something for themselves, there’s always an expectation-pressure from the family, which stops them from doing so.
This is a common scenario.
Most entrepreneurs are very excited about their business ideas.
But family encouragement is far from getting approved, as they fear failure of the newly launched enterprise. While on one hand, most entrepreneurs are adults and need to decide what they want for themselves, becoming an entrepreneur can be emotionally draining and time consuming. It can turn into a stressful situation for the entrepreneur and the family.
Here’s why family support is important for setting up a business.
There are people whom you call your loved ones, and there are people whom you need not explain everything to. They know what you’re going through and tell you the best way to come out of a bad situation. You know you are safe when they’re there with you. What else do you require on emotional grounds to build an enterprise? You get started when you know they’ve got your back, as simple as that.
Married or Bachelor, you cannot deny that at some point of time, you do require your family resources to be used for your business. And for that, the family might have to give up on things like entertainment, vacations, dining out regularly or luxury shopping. No matter how rich or poor you are, if the family is supportive of your business, there will be some point where it adjusts the expenses involved in your business.
You’re doing it for them
When asked about the best win in a newly set up business, an entrepreneur’s reply was, My wife’s support. She not only tolerated my involvement in the start-up, but actively supported and rooted for me, because she believed that what I’m doing, is at the end of day, for our good. Only if the family is supportive of your idea, will your business prosper. There’s no second thought to how much does a start-up expect from you? As a founder, you’re supposed to handle everything. Right from funding to hiring to logistics and what-not. Without the family’s support, there’s no way you can launch a start-up and have a healthy personal life, at the same time.
You celebrate with them
No matter how big or small is your achievement, the only people you wish to celebrate it with is your family. There’s no other side to setting up an enterprise, if you don’t have people to share your success with and who take pride in telling the world what you mean to them.
As a newly setup business and family requires an equal level of commitment, it is important that you set benchmarks for your new business.
Because in a start-up you always will have to make sure that you are working ‘on’ your business and not ‘in’ your business.