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Emotions, Family & Business

Thinking about starting a business? Well before you do it, make sure you have a conversation with your family and explain to them what you’re looking to do. This is especially important if a spouse or other family member is going to provide financial support while you work to get the business up and running.
Some of the steps you want to take to get them involved include:
• Going over the business plan • Involving them with the actual business planning• Having an uninterrupted conversation explaining your plans
Here’s the reason why you want to get them involved. In operating the business you’ll need emotionally and psychologically support. If they aren’t fully on board with the idea, that’s another battle you’ll have to fight.
When you talk with new or existing business owners, they’ll all tell you that it is an emotional process starting and running a business. In many cases they’re risking time and money on an idea. A scary proposition when they’re not sure how it’ll turn out. Also, they and only other people who have the same business truly understand what’s involved.
As a financial advisor some of the business owners I’ve talked with include programmers, story book writers, lawyers and commercial cleaners. The common thread with all of them is that it’s tough on them but they wouldn’t have it any other way. They knew when they opened their doors they had to compete. They also knew that sales would be tough. However, when they started to actually run the business they got to see how tough it was.
Why? Sales on a daily basis can be physically and emotionally draining. Not ever sales pitch generates a sale. To deal with that and the idea that a family member is not supportive can be a lot for a business owner to deal with.
That potentially negative sales energy can affect short, medium and long range planning for the business. Maybe even its overall ‘s what it can affect:
• Sales presentation• Interaction with business partners• Family functions
There may be some salesmanship involved with getting family on board. Keep in mind that they love you. Also understand that for many people starting a business is a scary thing and they can’t imagine it. So because they care about you, they don’t want to see you have any potential hardship.
Here are a few suggestions on how to get your family on board with the business:
• Have them ask how they can help• Have them be able to explain your business• Avoid non supporters• Tell them not to ask how the business is doing expecting to hear the worst• Work out a schedule for life and work
Starting a business is tough enough but not having the emotional and psychological support of family and even friends can make it tougher. Do the best that you can to get them on board. If you can’t, try to minimize the effect it has on your business and family relationship.…

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Family Tips for Saving Money

Your Home Business and Your Family

When you make that decision to work from home, either as a home based business owner, or a freelancer, you must make sure your family understands, what does that means.
The fact that you’re at home all day, doesn’t mean that you’re not working and can take care of all the chores as well. You must set aside hours when you will work, and let your family know, that now it is your work time and they must not disturb you. It is perfect if you have your own room – you can close the door and let your children and spouse know that now you are busy working, but once you have done your goals for today, you will be available for chores, play and whatnot. The only difference when working for yourself from home, is that you can more or less choose the hours when you work, but do not make the mistake that people who work from home sit at the front of TV or play all day.
It is best if you explain to your family, what it is you do in front of your computer all day – because, they most likely will judge from their own experience and conclude, that you’re just playing games or browsing internet. You must make sure your family understands that the computer is your work tool, your business asset, and in front of it you’re working. Of course, if you want them to believe you, you must actually work.
Working from home, making money online is hard because of all the distractions – there are even more of them if you use your computer as a main work tool. Make a habit of not visiting social networks, news etc. while you work.
Main thing to remember is – always communicate what you’re doing with your family. This way, they can support you, and that support will carry you a long way.…

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Love Mommy

How To Invest In The Real Estate Business

Real estate is one of the industries that can be ranked as a billion-dollar industry. More people are discovering the potential in this field and investing a great deal making the industry grow in leaps and bounds in recent years. However, just like when making an investment in any industry, it is of paramount important not to do so blindly. There are several important factors you will have to consider rather than just diving in and expecting things to work in your favour.
To start with, one will be required to come up with a detailed plan on how they are expecting to make money from their investment. Since this is a dynamic industry, your plan has to be one that will still be beneficial to you in a decade and more. Carry out some basic research and figure out the expected changes in the economy and how you will be able to prepare for them. Otherwise, you may come up with a very good plan that may unfortunately prove short lived.
Although one may get a professional to help them with all the details involved in investing in the industry, it is also important to familiarise yourself with how things work. One should carry out basis research in order to understand the language of this industry in terms of terms and even laws. A prospective investor needs to know about property appreciation and depreciation. The research will also help to shed light on the actual amount one must have to venture into this industry.
It is advisable to keep aside some money to provide stability for your investment to cater for unforeseen future problems and other small problems. However, it is also important to try and formulate a business or investment plan that may be able to cater for these kinds of emergencies and also sustain your investment. For example, one may invest in residential areas to be let out. In case there are any repairs or renovations to be done in the future, the investor should be prepared well in advance.
It is good to compare prices in case you are planning to buy a piece of property. A prospective investor needs to consider the location of the property they are intending to purchase. Depending on what kind of business they want to carry out on the property. If for example they are considering building a residential area, they cannot purchase land that is near a busy highway.
From their research, they will be able to find out the needs of people looking for residential areas in that particular city and work towards providing them with the same or better. Different markets have different needs depending on their location. For example, people in different cities have varied needs and wants.
Professional help is also very important. Although the prospective investor has already carried out some research, it is necessary that they employ the help of a professional agent. The professional agents normally have experience and may end up saving the prospective investor a lot of time and money.
The real estate agents normally already have their sources in the industries that can get them the best deals and even do them favors on your behalf. A good agent will be able to keep you up to date with the on-goings in the industry.…