It’s not easy when you have a close friend, family member, or partner who decides to go down the entrepreneurship path in the hope of achieving their dreams. Yes, it’s great when they get there and everything is running smoothly but the road to the finish line is one that’s full of twists and bumps. Being successful in business does not come easy; ask any entrepreneur and they’ll tell you that it’s a rollercoaster of emotions.
Sleepless nights can become all too frequent. Money worries can take over and it’s easy to slip into the role of doing everything when it comes to operations, marketing and bookwork. That said; having a support network is often the difference between success and failure for many entrepreneurs. So, if you have a loved one who is about to embark on their own journey to business success, the following are some things you can do to help him/her achieve greatness.
Promote their Business
Step number one is to promote their business whenever you can. This can be done in a number of ways, including posting on social media, talking to others about their product/service, and even just wearing/using their products or using their services. You could offer to help them out at roadshows or networking events. Is it a local business that they’re setting up? Offer to hand out flyers or drop some business cards into stores. Doing all of this will help them reach a wider audience and achieve their goals faster.
Buy Their Product/Use Their Service
Your loved one is a risk taker, a job creator, and an innovator and he/she is going to need all the support they can get when it comes to brining in revenue. One sure way of helping is to buy their product/use their service. Even if you don’t particularly need it at the time, wouldn’t it be nice to give your vote of confidence by giving them some custom? Not only will you be helping your loved one out but you’ll also be supporting entrepreneurship and risk taking as a whole. It’s these two elements that drive innovation and economic growth in communities so it’s vitally important.
Financial Support
Returning to education to get professionally qualified is a priority for most entrepreneurs. But how can you support them without actually paying for their fees? There are so many things that you can do. First, be sure to encourage them to continue learning and expanding their skillset. Next, be the person that they turn to when they need emotional support when it comes to choosing a course and college. Spend time together looking for funding options and help them apply for specific grants, loans, and scholarships. Finally, if they need a cosigner for student loan, step up and be that person. You can help them unlock lower rates and save money over the life of their loan.
Always Be There
Some of the habits of highly effective people can be stressful. There are many demands that come with running a business. In addition to the logistical and financial concerns, business owners also have to bear the weight of responsibility for their employees and customers. This can be a lot for anyone to handle, and it can be especially challenging for those who don’t have a strong support system in place. If your loved one is running a business, there are some things you can do to provide emotional support. First, try to understand what they are going through. Take some time to learn about the challenges of running a business. This will help you be more understanding and patient when your loved one is dealing with difficult situations. Second, make yourself available when they need to vent or just need someone to talk to. Let them know that you are there for them, and offer your help however you can.
Look for Signs of Doom and Gloom
Experiencing stress is normal when running a business but things can get out of hand if stress levels peak. Your job as a supporting family member/friend is to look out for signs of doom and gloom and act on them. Is your loved one working longer hours than normal? Does he/she look physically tired? Are they irritable and snappy with you? Are they skipping meals? Do you think they’re withdrawing from people? If so, these are all indications that some extra support might be needed.