How to Build a Successful Family Business Without Leaving the Family Home
Every business person with children dreams about bringing them into the company and creating a legacy for them, so that they need never worry about money or be vulnerable to the whims of fickle employers.
And parents of kids who graduated in the last year into an unprecedentedly savage global financial crisis probably feel more frustration than the youngsters themselves, as they watch their talents going to waste and their expectations going into freefall.
So how can we boost our businesses, start new ones and open up a bright and prosperous future for our children? The answer is actually at the fingertips of the kids themselves as they click and tap their way through Social Networking sites, through YouTube and through Google. If the future depends on the next generation then it will also be inextricably linked to the exponential growth of the internet and how it pervades every aspect of our working and social lives. So keep it simple, Stupid, and build an Online Business!
Here are five steps that will enable you to make it happen.
Step 1: Everyone in the family will have a different take on the internet, so get around the kitchen table and map out what everybody knows, and what everybody feels and believes about it. That will be one of the most powerful and revealing discussions you will ever have.
Step 2: Figure out what you want to achieve in the long term and what you need to achieve in the short-term and write it down together with the timescales you are working to.
Step 3: Allocate tasks to get you to where you need to be, bearing in mind any existing study or work commitments. Everyone should be involved in some short term and some long term projects to keep everything balanced, focused and fair. As you climb the experience curve together you can begin to specialize, just like any work team would do. Set a time each week to get together to check progress and make any necessary adjustments. Don't skip this!
Step 4: Even if you don't need to generate a short-term income, you should have a short term strategy, as it is a cheap way to learn. Go for Affiliate Marketing - selling other people's products - and website subscriptions, much of which you can do for free. As you progress you will become familiar with the immensely powerful (and free) Competitive Analysis Tools available in Google and elsewhere.
See a competitor looking good and doing well in a sector you want to sell into? Take a look at their site traffic, customer demographics, press releases and backlinking and set up free automated alerts that tell you every time they do anything at all. For any inquisitive member of the crew this online spying is great fun as well as invaluable to your growing business.
Step 5: While you are enjoying the quick wins you will quite naturally find long term projects - your own websites - that different members of the family are drawn to and the research skills honed in Step 4 will enable you to laser focus in on them and make sure that all your efforts are right first time.
Keep in mind that passion leverages profit, so go for projects that at least one member of the family is passionate about, because that will drive the business harder, faster and more effectively than something that you do just for the money. Whether it's cookery, music, health products or rock climbing, there is so much out there to go for that there really is no need to do anything other than something you absolutely love.
The key to your family business, realizing that dream of a secure, successful future for you and your children is right there, right now at your fingertips. For the sake of the next generation don't let it slip past them. Call that meeting today.
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Article Source: http://EzineArticles.com/?expert=Barry_G_Russell
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