Juggling so many responsibilities.
If that sums up your life right now congratulations! You're the proud parent of a bouncing baby business?
There was a time when I thought that having a family and setting up and running a business we're complete opposites. I've since realised how wrong I was. They have more in common than I would ever have thought. Here are fifteen examples to be going on with
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1 Conception be it the beginning of a business concept or of a new human life, it might be something you've been trying for for ages, or it can happen out of the blue; it can be a wonderful moment, or a non-event; but even if it's the last thing on your mind and indistinguishable at the time from plenty of similar moments, one thing is sure you'll realise the significance of this one before too long!
2 Pregnancy the period between conception and birth, when the seed of the original idea is blossoming into a fully fledged concept, you can find yourself on a rollercoaster ride. Sometimes you're excited and can't wait for the birth and sometimes you wonder who's damn fool idea was this?!
3 The birth bearing a baby business is considerably less physically painful than delivering a baby human (for us girls anyway!) but it can hurt like he'll in other ways, including financially and the bad news for you boys is, if it's your business, you can't get your partner to go through the agony for you! The most they can do is hold your hand and mop your fevered brow. For a woman, the big advantage of making a business with your partner, as against making a little person, is that you both really do go through the birth together on equal terms.
Once it's here, your brand new business is likely to take over your life. Before it was born, you might have made bold statements about how it was going to have to fit in with you, not the other way around but, trust me, as young as it is, it has other ideas
For it to thrive, it needs:
4 Investment even before it's born, there are expenses. You can keep them to a minimum but if cash is really tight, you'd better start calling in favours and blagging freebies!
5 Food and guess what? Its a fussy little bugger it will only eat money. Obviously, you can't pick that up in the Sainsburys baby aisle even Waitrose don't sell it! No, the only source of this particular baby food is sales and marketing.
6 To be kept clean you have to stay on top of the admin and the more the baby eats, the more it, er, generates. Neglect it and you end up with one he'll of a nappy to change! The good news is that there are options which allow you to outsource the whole nappy thing from changing to disposal. You can do the same thing with human babies, of course. Its called employing a nanny and it's expensive! The commercial equivalent is a lot more affordable.
7 Clothes if this child is going to be seen in public, it must be properly dressed. The branding has to be right but be warned: just like a human baby, a business grows out of it's clothes. It doesn't happen as fast which is just as well, because a new logo generally costs several times more than a new pair of kids shoes. but just bear in mind that what fits your newborn probably won't work for your toddler and may well look ridiculous on your adolescent.
8 Discipline like any child, it needs boundaries so firm, consistent management is a must.
9 Nurturing at the beginning, a young business needs a lot of input to develop it. Physical growth increased turnover, comfortable profits and healthy cash flow are all fantastic signs like the steady weight gain of a new baby; but there's more to growth than getting bigger. There's also getting stronger, bolder, wiser and sharper and all that takes good strategic development. That doesn't stop as the business grows up it just changes like the transition from teaching your baby shapes and colours, to helping your pre-teen son or daughter with their unintelligible maths homework!
10 Other people it's possible to be a single parent of a business, but it's hard work going it alone. Its much easier to have someone to share the highs and lows and help make the big decisions. If you do decide to fly solo, you will need a strong support network. Friends and family are great, but best of all are other people in a similar position especially if their kids are a bit older than yours and they've already met and overcome some of the challenges you're likely to have to deal with. Also, if you try to bring up your business in splendid isolation, it'll end up detached from the real world and unable to function in it. Yes, really social interaction is as important for a commercial child as it is for the human equivalent!
11 Guidance especially as your infant gets bigger and more adventurous, you need to be several steps ahead with eyes in some unusual parts of your anatomy! to stop it getting into trouble, and to help it discover what it's capable of so some planning is essential. That said, try not to fall into the pushy or over-protective parent trap, of wanting to plan out your childs life down to the last detail. Be prepared for the fact that, whatever expectations you may have when it arrives, it might well confound them and grow up to be something completely different. Like any new parent, you'll probably want to maintain absolute control, to protect it from the big, bad world for as long as possible; but we all have to go out into that world at some point and just as relatives, friends, the neighborhood you live in, schools and so on help to shape a growing child, , , outside influences like changing consumer behavior, new technology, and changes in the economic climate will have an impact on what your growing business becomes. As long as it grows up to fulfill it's potential whatever that potential may be that's all that really matters.
12 Tolerance mistakes will happen. To begin with, the buck starts and stops with you. Later, as your business takes on more of a life of it's own, there are likely to be other people in the equation, such as staff. Although the ultimate responsibility is still yours I'm afraid! What matters is that everyone knows that mistakes have consequences and that they're turned into a learning experience for all concerned.
13 Realism when your baby wakes you up in the middle of the night demanding to be fed (if you don't get those nights when you're wrestling with where to find more customers, how to pay a bill etc, I'd love to know your secret!), you might think: Never mind. In a few years, all this will be different. Don't kid yourself! When a baby grows into a toddler, the toddler grows into a schoolchild, the schoolchild becomes a teenager and even when that teenager becomes a young adult it doesn't challenge it's parents less the challenges just change. Its no different when you're bringing up a business.
14 Time if you can't be there in person, you need to make sure that someone else is and that they're capable of putting the time in because without that, nothing else can happen. The downside of having someone else look after your child for long periods is, of course, that whilst your name is on the birth certificate and your offspring shares your DNA, because it was born of your original idea and you worked to establish it, the closest long term bond will be with the primary carer. They will become the face of the business and the one who will really be due the lions share of the credit for it's success.
15 Love if you don't love what you do, or what you're thinking of doing, with a passion, don't do it because you won't give it all the other things I've talked about, with the consistency and in the quantities it needs to survive and thrive. It needs you to be there when it needs you, and not just when you want to. It will demand sacrifices from you in my own experience, nothing prepared me for how much it would ask of me!
So why do it? Because next to bringing another human being into the world and raising them to make a real contribution, raising your own business is one of the most rewarding things you can do.
Also, unlike a flesh and blood child, it'll never ask to borrow the car and if you play your cards right and put the work in, it will eventually keep you in the style to which you'd like to become accustomed!
Like human children, you can of course have more than one but if you're tempted to bring them up together, be careful. Its a great idea in theory and extremely tough going in practice.
Speaking of which sorry! Got to run now my pre-schooler is asking questions and the baby is screaming to be fed!
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Invaluable Sources
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Posted in Business Post Date 02/08/2018