Cost vs gain: Raising kids in an entrepreneurial household?
I started my first business when my first son was about 5 months old. I earned my first free car in my network marketing business when my second was 3 weeks old. I advanced to the position of sales director the same year I had my 3rd baby. When I had my 4th, I was speaking on stages in front of hundreds of people. I waddled on stage. And I launched Amy Walker Consulting 6 weeks before my 5th son was born. My children have all been raised watching me build my business. When the older three were little, I ran that business part time. With my last two, I’ve worked pretty full time. My kids truly don’t know any other lifestyle than business.
I frequently see women place a glass ceiling on their income potential because of their families. I get it, none of us wants our families to suffer. If it came down to choosing my family or my business, family would win every time.
Can I rock your brain here for just a moment? What if the idea that my family suffers at the expense of my business was a complete lie? What if the reality was that your family suffers when you do not do your business? Because in my experience I have seen the second question to be true more often than the first.
Let’s have an honest conversation about sacrifice. Your family WILL sacrifice for you to build your business. I call these sacrifices costs and your family will pay the price. Here are some common sacrifices in my world. My kids cannot come in and talk to me whenever they feel like it. They need to wait until I am done working. I do not attend every field trip or volunteer weekly in their classes. Instead I attend one field trip per year for each kid, and attend 90% of their school functions that they are presenting or performing at. I don’t sew costumes or bake for functions. I buy stuff and often times send an assistant to buy them for me. I don’t babysit my kids on their responsibilities. They are expected to manage their own. If they are struggling with turning in homework or getting projects done, we talk about it, and we come up with a plan to improve that includes specific types of support from me, and more accountability from them. They do not have as much done for them as most of their friends their age.
Now let’s look at the benefits or the gain. My children are learning success principles in their childhood that most adults are figuring out in their 30’s and 40’s. My children understand the value of money. They see the work it takes to create it. They see that how you invest it makes a difference on how much you have in the future. They have no mental limitations on what they can or cannot do as adults. Success to them is simply a matter of deciding what they love enough to monetize. They are growing up in a structured environment where time is our greatest resource and is used wisely. For example, one Saturday a month we do a family work day. One Saturday a month we do a family fun day. One Saturday a month there is a scouting activity, and one Saturday a month we have a chill day. Saturdays are precious for us and we do not waste them. We make all decisions based on what is best for our family, not on what we can afford.
I am not claiming to be a perfect mom. I think perfect parents are about as fictional as unicorns and centaurs. I am saying that I recognize that my business is a blessing to my family. I believe in stay at home moms who have the business of raising their families. And I believe in moms running successful businesses. I do not believe in moms running struggling or small producing businesses. I find that those women pay my costs, and more. They also have the cost of financial stress, mental exhaustion from thinking about their business all the time, and guilt from knowing they could do more than they are doing. And they don’t have the gain to balance out the cost.
The key to shifting into a dynamic that provides more gain that cost for your family is to get clear on what prices you are not willing to pay. Protect the things that are essential to you. Be willing to adjust everything non-essential in order to create the results you need and want. And allow your family to see the benefits of your business!
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