Small Business Finance News
Balancing Business And Family To Achieve Small Business Success
Written by Jenna Weiner
Striking the balance of business and pleasure is a debated issue among entrepreneurs.
The National Federation of Independent Business' index of small business optimism has been historically low for nearly 15 months. With the outlook so glum for many SMB owners, it may be good news for entrepreneurs that one small business expert offers some tips on how to make a small businesses grow. Still, the advice he offers may be slightly less good news.
According to George Cloutier, founder of American Management Services, small business owners who really want to achieve financial success should prioritize their business above personal life and family. In Entrepreneur magazine, Cloutier made clear that whether in a period of economic boom or recession, an entrepreneur's first love should be business.
The business mogul admits this is not a popular opinion to unleash in the entrepreneurial world - particularly with Valentine's Day right around the corner. Still, he says family phone calls should be taken only in case of emergency, and clients should be the ones on speed dial.
For Cloutier, this devotion to work is an ultimate kind of love. It offers family financial security and, he writes, "the best thing you can do for them is to create the legacy of a business that is thriving and financially sound."
This may not be appealing for many entrepreneurs. It may come as good news for small business owners that many disagree with Cloutier. Experts at GigaOm say the myth that entrepreneurs must sacrifice personal life for business can actually kill a startup business.
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