June 6, 2012
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Family comes first, its a known fact. At the end you find comfort either in your parents, partner or children. Whoever is close, you want to share everything with them from your achievements. You trust them on your life and would like to see them with you when you reach the top.
At the same time you don’t want to bring hardship to them. As an entrepreneur you always want to take risk. You can put everything on the line while chasing your dream. But can you see your family going through ruff time?
This is one of the sad factors why startups fail. There are a lot of things that can disrupt a entrepreneur’s personal life. Illness, death of a family member, divorce, relationship trouble, and problems with a child are just a few of the many issues that can affect a person’s mindset. When things like this occur, moments of clarity are replaced by stress and anxiety.
Tough times should be counted before you hit the road. Security, security and security are three things you can do to take care of those anxious moments. Have at least one year’s pay saved up. Or have a steady income from some property or family business. This can take care of medical bills, food and stay for you and family. This is best for you to concentrate on business strategies.
If this steady income is kept for family, entrepreneurs can startup nil. Having nothing left for business and raising the bar from ground zero. Because VC’s and Angels are interested in your business plan and will invest there. They would rather escape while you face a serious threat and is in dire need for money for family security.
Be the best judge and head of the family and take wise decisions.