You already know that starting a business is an all-consuming pursuit. What you may not realize is that it will consume your family as well. Starting a business is truly a family affair. To one degree or another, everyone will have to step up and make sacrifices. Your income will decrease significantly for the foreseeable future, which means you won’t be able to afford many luxuries. Instead of leisure time, your family will probably end up putting in time on your business. You will be working for most of your kids’ childhoods.
Startups have broken up many happy homes, so set expectations from the beginning. Make sure your significant other is 100% on board, and ready to make the necessary sacrifices. Starting a business usually does one of two things: it brings you closer together or drives you apart. Make sure your relationship can withstand the stresses of a startup. Address any hesitation or trepidation up front, with an open and honest discussion. Your family’s unwavering support will be critical to overcome the challenges you’ll inevitably.