A family business is a wonderful and challenging endeavor for any family. There are advantages and disadvantages that all need to be considered. For our family, the advantages have far outweighed the disadvantages and we don’t regret starting Goat Milk Stuff.
We began our small family business to:
Bring Daddy Home. Our family business allows Jim to be home 24/7. This allows him to play a larger role in parenting and raising the children. He doesn’t have to spend hours commuting or working for somebody else’s business.
Strengthen the Family. Having a family business helps unite the family because we are all on the same team – that of Goat Milk Stuff. When we have a challenge or opportunity, we all pull together to meet or conquer it.
Train Up the Children. Working hard is very important to us as a family. The children are being taught that work is a part of life. They are learning the value of money and how hard they need to work to be able to purchase an item. We share the financials of the business with them and they understand how much money it takes to run a successful business.
Strengthen the Economy. According to the Small Business Administration, small businesses create 75% of the new jobs in our economy and they create more than 50% of the nonfarm gross domestic product.
Create Entrepreneurs. As the children learn that their work can produce money, they begin to get their own ideas of how to develop other new businesses.
Help Others. As our family business has grown, we’ve been able to employ other people. We can provide a family-friendly work environment that helps support other families.
Whether it's a side business that just brings in a little income, or a full-time business that supports your whole family, a small family business can help you reach your goals.