The Jim Moran Institute
for Global Entrepreneurship

Main

Services
• Consulting
• Entrepreneurial Showcase
• Mentoring Program
• Youth Initiative - Junior Achievement (JA)
• Entrepreneur Roundtables
• Tip of the Month
• Contact Us

Jim Moran Institute
• Meet Jim Moran
• The JMI Staff
• Board of Advisors
• Testimonials
• Major in Entrepreneurship
• The Entrepreneurship Bootcamp for Veterans with Disabilities (EBV)

Resources


• Business Resources
• FAQs
• Related Links

How will a business affect a family?

November 20, 2005

Q - I am working at a State job that I despise. I am thinking of opening up my own business, so I can get out from under the oppressive environment at work. If I decide to quit my job, I am concerned about my income, because, although my husband does enjoy his job, my job contributes 60% to our family’s income. Also, with 3 young children, church, husband, and my creative pursuits, I hardly have time for anything else. Should I continue working for the State in the bad job I have, or quit and start my own business? Help!

It is important for aspiring entrepreneurs to measure the impact of starting a business on their families. In order to be successful at owning a business, you really need buy-in from your entire family (husband and children). They must understand the time commitment that you must make and understand what they will receive in exchange for very important time with you. One of the important benefits is getting you out of a bad position.

However, rushing to start a business to get out of a job with the State is not a good enough reason to start a business. You really need to have the passion and drive to start the business, plus the family buys in.

Your life is very full. Starting a business is not one of those things that you can do from 8 to 5, five days a week. Workdays generally run from 7 to 9, six or seven days a week, especially in the startup phase of the business. Many people enjoy, and actually relish, owning their own businesses and they do not mind the long hours. However, most new business owners do not usually have the other obligations you have. If you are looking forward to spending more quality time with your children, just flat out, do not start a business.

I just do not see many entrepreneurs with young children, because the sacrifices are just too great. Rather than starting a new business, I encourage you to talk to your boss (or bosses) at work and see if they can make the work environment better for you. Also, do some investigation into why you have such a bad job (poor colleagues, hours, etc.) and analyze them to ascertain what changes might make these factors more palatable. The more you understand your job and the real issues, the better able you will be to make the requisite changes.

Another possibility is to change jobs within the State -- Florida State University is a great place to work!

Most jobs and have their ups and their downs, so do not want to overreact to a down period. Sometimes, you just have to bite your lip and get through the bad times at work, knowing there are brighter times over the horizon.

Thanks for asking such great questions.