Three Essential Questions To Ask Before Starting A Family Business

Lizzio Development Group was built by three generations of the Lizzio family.  It took decades of hard work and determination to get to where we are today, so we know a few things about what it takes to run a successful family business.  A lot of people assume that running a family business will be easy, but managing a business with a family member can be trickier than it looks.  If you're thinking about starting a business with your family, make sure to ask yourself these questions.

Am I only doing this to follow a dream?

Too many people make the mistake of viewing a family business as something fun since it's always been their dream to have one.  You can have "fun" when you run your business, but succeeding should be your top priority.  It may have always been your dream to open a pizza shop in your hometown with your family, but if your hometown already has five different pizzerias your business won't do well. There's nothing wrong with following your dreams, but if your dreams could put you and your family in financial jeopardy it isn't worth it.

Do my family members want to be a part of this business?

It isn't uncommon for people to plan to have their family members help them out on business ventures before they actually see if their family members want to be a part of it.  Don't plan on having your family members work in your business before you see how they feel about it.  They may not be interested in helping you out, or they may simply not have the time to devote to a starting a business.

Can I manage my family members?

Managing your family members won't be like managing employees you aren't related to.  Some family members may resent having to take orders from you, and you may feel awkward brining work matters up because you don't want to upset them. 

Three Things To Think About Before Moving

At Custom Smart Homes we've built dozens of homes across the great state of Tennessee, and each one was unique in its own ways.  Some families want large house to fit all of their extended members and friends, and others want small homes so that they can live modestly.  Home sizes and rooms may vary but there is one thing that every soon-to-be home owner experiences: trying to figure out where they're going to build their home. 

For some people to answer is simple, but others have a more difficult time picking their lot.  When it comes to choosing a new area to live in a lot of things should factor into the decision.  When you're planning your new home, make sure to keep these things in mind when you're picking the location.

Infrastructure

Tennessee is a big state, and each town and county has their own unique features.  If you're going to be relocating you need to think honestly about your needs.  Do you need to live somewhere that has a lot of options for k-12 schooling, or are schools not very important to you because you don't have children?  Do you need to live in a town that has access to specialty medical care, or are you and your family members relatively healthy?  These are all important questions that should be answered before you choose where you'll build your home.

Entertainment/Nightlife

Is your ideal evening spent at home by yourself, or surrounded by people at a club?  If you're someone who loves to be out and loves meeting new people you should live in an urban area where it's easy to find something to do.  If you're more of a homebody you may want to consider living in a more rural area where you'll have some peace and quiet.

Jobs

A lot of people move because they have to relocate for work, but if you're not moving for a job you should consider how your new home will affect your work life.  If you're in need of a job you may want to move close to one of the many corporations that have headquarters and regional centers in the state.