Family Matters: Easing the Transition to a Home Business
Ask any would-be entrepeneur why he or she wants to start a home
based business and you'll get a wide variety of replies.
Regardless of the reason, there's one thing for certain:
starting a home business doesn't just affect you, the
entrepreneur; it also affects your family.
The change in lifestyle that comes with a home business requires
adaptation from the entrepreneur as well as his or her spouse
and children. So before you jump into the world of home
business, have a frank discussion with your family about issues
such as:
__How Will You Separate Business and Family?
Home businesses are particularly difficult to manage because
they're just steps away from family life. You need to be able to
concentrate fully on your business, yet when you spend time with
the family you shouldn't be distracted by business matters -- or
worse, tempted to go do 'just a little work.' Some things you
can do to help keep business and family separate include:
* Set 'office hours'. This is the time where you focus on your
business without having to worry about the family.
* Take time out for yourself. No one can work all the time, and
you'll burn out if you try. Set aside some 'personal time' to
exercise, read, or do something else you love.
* Take a guilt-free day off with the family. Yes, an entire day
away from the business! You'll feel more refreshed and better
able to concentrate on the business afterwards.
* Get organized and stay focused! The less time you have to
spend searching for email, papers, etc., the more time you'll
have to actually perform productive work. This will free up time
so that you can do other things.
__Will Family Members Contribute to the Business?
Come to a clear understanding about what your spouse will or
will not do. For example, you may ask for help during unexpected
busy periods but not on a regular basis. Or you might agree that
it's okay for your spouse to send or read business mail, but
that you are the only one who answers the phone.
It's best to set this straight from the beginning. Don't assume
that your spouse is willing to help out. Likewise, don't assume
that you'll have complete independence because "it's YOUR
business". Come to an agreement -- it will help to lessen the
stress for everyone.
__How Will You Handle the Financing of Your Business?
Money is almost always a big issue with families. A home
business, particularly in the startup phase, is going to require
funding. Your family may have become accustomed to a certain
level of 'comfort' when it comes to luxuries such as dining out,
recreation, spending money, and so on. Will any of this need to
change, and if so, what?
There are many ways to finance a home business, including:
* Use income earned from your 'day job'. Many people continue
to work their regular jobs in order to fund their home
businesses. It is only until their home businesses are producing
a reasonable income that they have the option to quit their jobs.
* Finance your business with savings. If your savings were to
be used for another purpose (for example, a family vacation or
buying a home), how much of it are you willing to 'sacrifice'
for your business, even if it's meant to be a 'temporary' loan?
* Help from family and friends. Consider the possible impact on
your personal relationships. Borrowing money from loved ones can
lead to significant stress... for example, what do you do if
someone suddenly needs or wants their money back and you aren't
in the position to provide it? What happens if your business
fails and you are unable to pay back loans?
* Other sources such as loans, grants, lines of credit, and
more. You can find a good list of options at the US Small
Business Administration website: http://www.sba.gov/financing/
Discuss the options with your family to find something
acceptable. You may also want to discuss it with a certified
financial planner, who can also help you to develop a
contingency plan for emergencies.
__What Is the Impact on Normal Household Activity?
Businesses require a great deal of time and effort -- and that
goes double for the startup phase! While you work to get your
business off the ground, how will daily household tasks be
handled? Will your spouse and children help out more?
It's not just the chores that need to be done, though. What
happens if you work a day job and can only work on your business
in the evenings -- when the family normally watches TV? If you
aren't able to concentrate with the noise, you will have to
discuss alternate arrangements with your family.
__Managing the Children.
Young children in particular will require some thought. Are they
allowed to answer the phones, and if so, do you teach them how
to do so? How do you handle children who are home while you're
working on your business?
There is no easy answer to this... every child has his own
personality! One option is to hire a trusted babysitter to care
for the children while you work. Your children will be safe and
you will be free to concentrate.
Another alternative is to give your children several "tasks" -
throughout the day, they are expected to do various things, such
as read a book, draw a picture, etc. Be sure to schedule breaks
and 'playtime'!
If you have the flexibility to do so, you could also work during
the kids' naptime, when they're at regular outside activities
(team sports, music lessons, etc) or while they're at school.
__How Will Business 'Emergencies' Be Handled?
Every so often business emergencies will arise. Whether it's a
sudden big order that needs immediate processing, or you
discover an error that must be fixed right away, you will be
absorbed in your business with little time for anything else.
Will family members be expected to take over certain tasks that
are normally yours? Will they help you with your business during
these times, ie. stapling, sorting, packaging, running chores,
etc? Again, come to an understanding about what is expected from
each member of the family during emergencies.
__Schedule 'Family Time'.
Someone once told me, 'My home business gives me the flexibility
to work any 20 hours per day I like!'
It's all too easy to get caught up in your business. Your family
still needs and wants to see you, though, and if you spend all
your time rushing off to do yet another business task, they may
end up resenting you.
If you have a hard time getting away from the "office", try
scheduling certain times of the day or a day each week where you
spend time with your family. During this time, business doesn't
exist -- your family has your full attention.
Many people start home businesses for family reasons... so don't
get into the situation where you are forced to choose between
your business and your family! The much-welcomed support of your
family can be a tremendous help.