Handle Your Business

Handle Your Business

Running an efficient household is a lot like running a successful business. Unfortunately, majority of people live their lives without knowing what its like to manage a business, living out their role as an “employee”. This article will describe some of the similarities between the two, so I invite you to look at it from both perspectives.

“But… Why?”-According to this article by CBSNews, 38% of the full-time employees polled live paycheck-to-paycheck. Equally as alarming, a similar percentage have yet to begin saving for their retirement. “Hey, Boss! It’s Friday, can I get my allowancenow?”

These questions may help us think a little less like an employee, and a little more like a BOSS:

Whats the Budget?

Lets start with the obvious. Success at home and the workplace will require a fair amount of financial awareness. A business that spends more than it makes is destined to close its doors, causing otherwise loyal employees to seek employment elsewhere. Even a moderately profitable business, on the other hand, can be sustainable for quite some time (assuming the partners don’t lose interest  ).

Click here if you want some help setting up your budget.

Is It Time For A Performance Review?

Performance review’s are imperative for employee and company growth. This is a great time to discuss areas of opportunity, align yourselves with each others ambitions, and put some plans in place so that you may continue to grow together. Communication is key.

Did I Mention Communication is Key?

When communication is streamlined from the top down everyone tends to benefit. “You don’t know what you don’t know”. Unfortunately, we all have been victim of falling short of expectations that we didn’t even know were in place. Perhaps even more common, we fall short of non-existent expectations… stressing ourselves out for no reason. Talking these things out can relieve some unneeded tension.

 

Executing on these points can really go a long way to build a stronger family foundation. Involving your significant-other and children in your household decisions ultimately builds a sense of union and pride. Additionally, these are invaluable life skills that our youth will gain that they will unlikely be taught elsewhere.