How Starting a Small Business Benefits your Family

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As a business owner, you are constantly thinking about how the decisions you make benefit your business, employees, team, income and personal career.

But, how often to you consider how your small business benefits your family?

Chances are that one of the reasons you started your business was to benefit your family, even if you were simply thinking about providing for them financially. But, financial benefits aren’t the only things your small business can bring to your family.

Real Freedom of Money

Beyond the ability to provide for your family, starting a small business brings you real freedom of money. By this I mean freedom to give yourself a raise by growing your business, freedom to earn a little extra during the holidays or to save for a family vacation and freedom to give yourself a bonus when you need one.

When you are in charge of the projects you bring in, you bring real freedom of money to your family. This brings financial security, peace of mind and the ability to live a life that doesn’t require you to live paycheck to paycheck.

With your own business, you can also create passive income streams, so you can work less and earn more. With this kind of income, you won’t be trading hours for money, so you can actually earn an income while you’re spending time with your family.

Complete Control over your Time

As a small business owner, you’ll also have complete control over your time. You can choose your work hours, decide when your office is open, set meeting schedules and even take time off for vacations or special family events. This is one of the biggest reasons I started my own business.

We have been able to travel the world, as well as give back because of my own home businesses based on residual income streams. Without these recurring income streams, I would still be trading all my time for dollars.  My mission now after several years of living a freedom lifestyle is to teach others how they can also create financial freedom and time freedom.

This translates into huge benefits for your family. Imagine a job that allows you to attend your kids’ sports events, take a long weekend for some valuable family time or take a day off whenever you need to be home for a sick child. You can’t put a price on family time, and by starting your own business you’ll enjoy this invaluable perk.

Ability to take your Career Anywhere

When you work for someone else, your career is dependent on that business. You can only get promotions when they are available or if you meet specific requirements. Your responsibilities are dictated to you depending on your job description.

But, when you start your own small business, you have control over your career advancement. You can choose to make shifts in your career path and take on the responsibilities that play to your strengths and will make you and your business more successful.

The ability to do this will help you provide for your family and gain more time to spend with them, as you can choose paths that are best for you and your family.

Ultimate Freedom Lifestyle

Having complete freedom of time and money brings the ultimate freedom lifestyle. It allows you to live the life you’ve always dreamed of, without being bogged down with financial worries. It allows you to spend time with your family when they need you or just when you need some quality time together.

You won’t be a slave to your office and you won’t be living paycheck to paycheck. Your business will work for you, instead of the other way around. This approach is healthier for your work life and personal life balance. It will allow you to spend your time where it matters the most, even if that means you’ll be at your office one day and with your family the next.

Control over your Financial and Professional Future

Finally, having control over your financial and professional future is a major benefit of owning a small business. When you work for someone else, your fate is in his or her hands. In most cases, you don’t have complete job security and you are limited in the amount you can earn.

On the other hand, with your small business you can control your direction. You can choose how to grow your business so you’ll continue to have ultimate freedom of time and money now and in your future.

This brings immense peace of mind and means that you’ll be able to more fully plan for your family’s future. You’ll know you will be able to provide for them and you’ll also know that you will have freedom of time, so you can be there when they need you.

I firmly believe that starting a small business is beneficial to families. Through my own experience, I have found that I’ve been able to achieve what I consider the ultimate freedom lifestyle, which benefits me and my family.

If you are interested in learning how you can make this dream a reality, contact me. I’m a business coach and help all kinds of leaders start their business, succeed at network marketing and increase their income.

About the author 

Deborah MacDonald

After almost 25 years as an entrepreneur, I continue to grow my business, my passive income streams and my wealth. And now I mentor others on their wealth journeys by teaching them how to fund their own freedom lifestyle.

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