For centuries, leaders around the world have desired to see their offspring follow in their footsteps. Whether monarchs or business executives, they shared a common hope that the next generation would successfully assume the mantle of leadership. In a monarchy, an objective assessment of an heir’s competence would be considered offensive. Unfortunately, some families adopt […]
Family
3 Ways to Make Your Franchise a Family Business
You can’t choose your family, but if you’re a franchise owner you can choose whether or not they are involved with your business! In fact, 43 percent of small businesses are family businesses according to the National Federation of Independent Businesses. If you are looking to bring your family into the franchise fray, here are some of […]
Mompreneurs: Franchising and Child Rearing Can Coexist
Often, work-life balance is treated as a myth. But it’s possible. Franchising is one way a supermom can also be the boss. One of the biggest perks of becoming a franchisee is the freedom. Many franchisees set their own hours, work from home or have their kids work in the business. Franchisees can set their […]
The Resurgence of the Family Business
Could you imagine working day-to-day with you son or daughter? Would your father or mother make a good salesperson? Have you ever considered investing in your family’s future by owning a business together? That’s right, the family-owned business is seeing a resurgence. Though popular 2-3 generations ago, the idea of working with family members lost […]
9 Fantastic Family Business Ideas That Are Easier Than You Thought
Who says you can’t mix business and family? Even though our families may drive us crazy from time to time, especially the no-filter uncle at Thanksgiving, there are plenty of business owners who have created startups with their families in charge. While coming together to act as one family may be easy, finding the perfect […]
Could You Have Created a “Dirty Cap Table”?
Oh, I know. When you started the business, you took investments from friends and family in small amounts just to get you started. Of course, that worked at the time. But… Enter the need for larger investments When you seek professional investors, whether organized angels or venture capitalists, one of the early questions you are asked […]
8 Smart Tips to Soliciting Friends and Family Funding
It’s great to start with a big dream as you contemplate a new business, but finding the money you need takes more than dreaming. As an advisor to young entrepreneurs, I find that many are a bit naïve about how the investment process really works. For example, I just read an otherwise impressive business plan […]
Remaining On-Track and Focused in Your Home Office
While working from your home office has its advantages, it can be one of the most challenging work environments you’ll ever face. People complain all the time about the noise levels and distractions in their open-plan office, but they don’t understand how difficult it is to accomplish day-to-day work tasks while also cooking, cleaning, taking […]
Top 6 Benefits of Working with Family
Given the right conditions, an enterprise where you’re working alongside family can work spectacularly well. And these kinds of business can often generate a truly special atmosphere which is hard to create in any other way. Equally, this same scenario can sometimes throw up some unique problems of its own. So to help you decide […]
The Essential Guide to Family Member Loans
Family loans are loans between relatives and family members. For some, borrowing money from a relative is a better option than taking a loan from a bank. With family loans, the borrower is not restricted to use the funds for a particular purpose, the rates and terms are typically better, and since family members know […]
