Monday, June 15, 2015

20 Reasons to Start a Family Business

The best way to build wealth and leave a legacy is to grow a family business. Think of all of the family businesses whose products, services, and generosity you benefit from on a daily basis. Your family name can be added to the history books for creating a better society and uplifting others out of poverty. Here are 20 reasons to start your family business today:

1.Build wealth for generations to come.

 The wealth you generate in your lifetime can benefit future generations. Reinvest a portion of your profits back into your business, your community and other investment vehicles, such as real estate, to ensure future wealth.

2.Transfer family values.

 Business presents many opportunities to make choices that promote or contradict your family values. You'll have a great supply of teachable moments to share how and why you make decisions.

3. Grow as a leader.

 Building a family business demands leading others. You will have to grow as a leader if you want to succeed.

4. Make history.

Your family name will be remembered because of your contribution to the economy of your community.

5. Strengthen inter-generational bonds.

Grandparents can work alongside grandchildren in a family business and they can share their culture, experiences and knowledge along the way.
Read more about becoming a family business

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