Dad Do you Have Time to Be an Entrepreneur?
This is a very important question to answer. And it doesn’t just apply to you as a dad.
Because inherently you know your time is your most limited resource and the way you spend that ultimately determines how happy or miserable your life is. When you look back at your life, the way you spent your time will determine whether you have regret or whether you’re at peace with the life you lived.
As a dad the question about becoming an entrepreneur has even more factors to consider.
1. What’s the minimum monthly dollar amount I need to support my wife and kids?
2. What’s the minimum amount of weekly time I will accept spending with my kids?
3. What’s the minimum amount of weekly “man” time I need to myself in order to recharge my batteries?
When you get into business, time is the biggest factor you will have to give especially in the beginning. This happens because you don’t have a lot of money to invest, in most cases, in order to start your business. This is especially true in light of these economic times
The number one reason 97% of all businesses fail within three years of being started is because they’re undercapitalized.
Now you may be independently wealthy I don’t know. But most likely you’re like me and still scratching and scraping to make that living and ultimately live your dream life with your family.
When you’re starting any new business whether it be in a network marketing company, your own website, or getting really bold and starting a bricks and mortar business you need to be realistic about the amount of time every week which is going to be required for your business to be successful.
Because the worst possible outcome would be for you to invest vast quantities of your time into your business and have it fail because you didn’t put enough or you weren’t realistic about what it was going to take in terms of time and financial investment.
You know the wife will be nagging you if this happens because she feels the failure as well.
The number one cause of divorce, and the number one cause of marital problems and marital fighting is money. Family finances cause the most grief between the parents and between the kids and parents who are fighting for the limited financial resources.
This often occurs because you have a different financial blueprint than your wife does. Perhaps you were born into a liberally freespending family that spent 100% or more of the monthly income. And maybe your wife comes from a more saver type of family that wants to keep expenses low and save a certain percentage of the monthly income.
This is the most common cause of those financial spats.
So make sure to consider all the various factors when making your decision about “do I have enough time to be an entrepreneur”.
One thing I forgot to mention is to schedule an amount of time each week which you and your wife are going to spend together just the two of you away from the kids.
This rejuvenation time is vitally important to a healthy, strong and long lasting marriage. (not that I’ve ever been married but looking at my parent’s marriage it shows).
Being an entrepreneur is extremely rewarding but the hours can be long so go into the decision with your eyes wide open and make an informed decision which is best for you and your family.