Teach your children the value of entrepreneurship while funding those unexpected expenses that invariably crop up.
One of the most important lessons that we can teach our children is how to build wealth. Wealth building is an important part of creating a legacy for multiple generations and the sooner our children learn this lesson, the more options they will have in taking care of themselves and others. The Bible tells us in Proverbs that a good man leaves an inheritance for his children's children. This requires us to be intentional in providing for our children while teaching them how to handle money. Developing a family business, along with projects to earn additional income (side hustles), provides a vehicle to teach life lessons. These life lessons and skills form the foundation of our Family Finish philosophy in raising a family. Here are 4 tips to begin your family side hustle.
Use What You Have
Many families start a business using debt. This is not an approach that we recommend. Starting a business with debt creates undue stress and strain and limits future possibilities.There are several businesses that can be started with some ingenuity, a computer, and items that are already laying around your house. For example, rather than having a yard sale to declutter your house, consider starting an eBay store to start resale business. Many families have toys and books that are taking precious real estate in the house and waiting to be sold to someone else to get better use. The Balance Everyday recommends several categories of items that can be used to kickstart a resale business. Reselling a few items to get started will help you get your feet wet and could provide extra cash to take a family trip or buy clothes for the school year.
Do Some Research
The internet is full of sites that recommend potential side hustles that your family can participate in. Here are a couple of links that are worth reviewing as you start to formulate side hustles ideas.
When you review the links, think of the skills that you have, your excitement about the ideas that you see, and demand for the services that you want to offer.
Take a Trip
When getting ideas for your family business, change your environment to stimulate creativity and inspiration. Research has show a link between international travel and creativity. While this may not be possible for everyone, varying routines is possible. Go a different way to work. Try taking the bus instead of driving to go on a family outing. Sometimes all that is necessary for a creative boost is a change of scenery
Get Your Mind Right
When starting something new, it is easy to talk yourself out of it. To ensure that you stick to your new approach to teaching your family life lessons, nurture yourself and your idea on reflecting on why you are doing this in the first place. Each family has a purpose and a plan and this endeavor is an extension of that plan. Once you share your ideas with others, discover who your boosters, neutral supporters and detractors are. Spend time with your boosters to ensure that you have the support to build your confidence. These shouldn't just be yes people. These should be people who will be honest with you by telling you the truth not just what you want to hear. They should have experience in doing what you want to do or know someone who can help. This will help you overcome obstacles and commit when things become difficult. All great businesses start with an insight and a thought. You can do this for you have been created unto good works. This business is the beginning of what God has in store for you and your family.
Comments