How to find ideas for a family business

One of the main reasons for failures in business can be called a lack of passion for your business.
Especially if it concerns the idea of a family business.

After all, people get tired and exhausted from constant periods of ups and downs.
Therefore, in order for your start to be successful, you need to choose the area where you will be really interested.
And not just interesting, but you should “burn” with your idea.
Only then a series of failures will not affect your mood and well-being in any way.

It is much easier to choose a niche in business if the decision is made by one person.
In this case, you just need to understand what brings you pleasure, remember your hobbies and hobbies.
But what if you want to create a family business and even pass it on to your children?
After all, everyone will work. How to take into account their wishes?

Oddly enough, but often the interests can coincide even with people who are completely different in character.
For example, the husband works in the construction industry, has engineering skills and loves his job very much, and the wife is fond of decor.
Why wouldn’t such a couple combine their skills?
Together they can open an enterprise for the production of garden tiles or paving stones with an interesting design.

The husband is a lawyer and the wife is an accountant, they can easily open a consulting agency.
And for example, such different professions as a pastry chef and a doctor – to establish the production of environmentally friendly sweets or cottage cheese desserts with dried fruits.

Weaknesses of the family business and their elimination

Psychologists and financiers often say that a family business is a fragile and unstable vessel.
However, we see many successful examples.
Then how did they manage to get around all the sharp corners and keep the family business?
After all, many experts believe that family ties interfere with building a strong joint business.
The main reason is the distribution of roles and the clarification of relations: who is right, who is to blame.
This takes a lot of time and effort, and sometimes leads to the disintegration of the family.

But that’s what experts think.
However, history tells us the opposite…
Businesses built jointly by husband and wife are the most durable and competitive.

If the family has the right approaches to the organization of time, roles and responsibilities, then such a business is growing very quickly and gaining momentum.

After all, where there is a strong rear, where you are understood and supported, things go faster and more successfully.
Spouses will always find a way to support each other if one of them does not have enough enthusiasm.
Business is a really complex business that requires knowledge and responsibility for making right and wrong decisions.

And indeed, those who decided to open their own business have a hard time at first.
The support and understanding of the closest people play a huge role.
If all decisions are made together and support each other, then this will be an excellent foundation for the development of a family business.

Family business ideas and niche selection

Often, those families who have decided to leave large companies and go to free bread, do not understand where to start and what to do about it.
Without a doubt, you need to start with analysis and planning.
Such a plan includes:

• Drafting business ideas;
• Choice of direction and analysis of development prospects;
• Development of a business plan;
• Search for partners and suppliers

It is useless to look for family business ideas somewhere on the Internet, it is useless to listen to the arguments of relatives and friends.
None of these ideas will become truly “their own” or brilliant and inspiring.
Do you think it’s useless to reinvent the wheel? Not at all.

After all, only an idea invented by you personally will make you move faster to the goal than imposed from somewhere outside.
Always take into account the fact that the business, which should become a family business, will go to your children and grandchildren.
Therefore, you need to consider ideas together with your “other half”.

Another thing you need to pay special attention to is the choice of business direction and analysis of development prospects.
To find out your chances of success, you need to do an analysis of competitors and partners:

• Is there a demand for similar goods and services;
• Your percentage of market presence in the future;
• What will be your USP (unique trade offer)

For example, if you dream of launching a textile manufacturing company in Ivanovo, then most likely your business will not go smoothly during the year.
Large production facilities have already occupied their niches in this direction and are unlikely to give way to newcomers.
Therefore, it is a unique trade offer that will guarantee your success (of course, if there is a demand for this product).

And most importantly…
The old planning schemes have not been working for a long time.
Sad statistics tell us that only one startup out of ten remains afloat.
To get into this one percent successful, make a plan for the development of your business in advance.
Think over and calculate all the necessary investments.
Learn how to write a good business plan, without which none of the investors will entrust their money to you.

Transferring family differences to business and vice versa

Imagine that after a quarrel with your spouse you still have a whole day to spend together, processing orders or producing products.

In a family business, misunderstandings and quarrels over trifles often arise, after which you still have to work together and spend a lot of time together.
After all, you can’t stop processing orders and selling products.
In this situation, the desire to “pinch” each other is greater than ever, especially if the business is also experiencing a wave of failures.
This whole situation can provoke unnecessary family conflicts, up to divorce.
Do you need it?

To avoid such destructive relationships, it is necessary to strictly define the boundaries: where personal relationships are, and where business begins.

Determine in advance who will be the executor and who will be the director of the family business.
After all, it so often happens that during the struggle of ambitions, the desire for power, the spouses forget about who will just work.
Therefore, determine your roles in the family business in advance.

If one of the spouses or children will be subordinate to you, please respect their work.
A sense of superiority will humiliate family members, which will undoubtedly bring discord into your relationship.
Never allow such behavior!

Always consult and listen to the opinion of the family.
However, remember that endless discussions can simply “blur” the creative approach to the main issues of running a family business.
At the same time, other people with management skills and experience can help you advance and reach a new level of success.
So don’t be afraid to hire people and delegate important things to them.

Never forget about personal growth.
After all, any business requires a competent approach.
You should always keep up with the changes happening around you.
After all, from the moment you registered as an entrepreneur, all responsibility for what is happening falls on your shoulders.
Family business and negative emotions in the family are incompatible.
For the successful advancement of affairs, such emotions should be avoided and eliminated at the first slightest manifestations.