Going
Entrepreneurial

Building my business around my life

A Clear Understaning of Your Boundaries

Each person has a starting point in understanding how their family household runs:

• Who contributes financial income to the household?
• Who contributes caretaking responsibility?
• How many dependents are in the household and what special needs does each have?

Those needs are going to determine how much time and energy you will be able to contribute to your entrepreneurial venture.

Even though the entrepreneurial venture may be primarily run by you, invariably the entire household will be affected by it. Therefore, it is wise to begin conversations early to determine whether the household is able to support you in this new entrepreneurial venture.

How Can You Build Your Business Around Your Needs?

Your daily rhythm defines where you are, on a given day, and how you live your life. It is important to note how much of that time will be spent on your entrepreneurial venture (it does not necessarily need to be 100% of a traditional 40 hour work week). For example, you may note:

• Where will you do your entrepreneurial work (geographically) and how does that impact your home life?
• How can you "start small" by minimizing your expenses for the venture start-up while earning income?
• What unique talents, skills, and experience can you capitalize to supplement your income?

The type of business you choose will also affect the type of work-effort required. For example:

• Private tutoring, translation services (minimal start-up capital required)
• Independent consulting (often requires travel)
• Running a restaurant/ catering business (regular monthly costs to pay vendors, lease)
• Running a landscaping business (physical labor)