Family, Success, and Sacrifice

Posted by George Cloutier on 02/16/10 | (1) Comments

Not being able to provide financially for your family, meet your payroll on Friday, or pay your screaming vendors are all very genuine concerns for any business owner. My way of thinking is a kick in the fanny to make real profits.

My rules are tough and each individual business owner is absolutely free to make his or her own choices about family issues, making a profit, sweat equity, denial, pay only for performance, and fear as a motivator, etc.

Obviously, you have to respect, love, and provide for your family. However, there are essential and regular conflicts between “quality of family life” and making a profit in the majority of cases. You can’t avoid these conflicts.

From .(JavaScript must be enabled to view this email address) on March 09, 2010

This almost sounds as if there is a “choice” between one way of life and another (business vs. family).  Yes….they do conflict sometimes but depending on the type of business you run, the family you have and the issue at hand the resolution may not require sacrifice.

There are two types of business I see out there:
1 - Lifestyle
2 - Growth

A lifestyle business is one where you make “enough” money to sustain the lifestyle you enjoy.  In a lifestyle business none of these direct (such as micromanaged) are embraced.  Its about flexibility and freedom first and profitability second….unless of course the lifestyle changes then profitability may move temporarily to the top.

Growth is much different and more inline with your appoach.  Its not about making friends, living a lifestyle or making people feel warm and fuzzy each day.  Its about delivering to the top and bottom lines.  However, I would suggest that unhappy employees make unhappy products and services so again there needs to be a certain amount of balance, but the concentration is on growing the business and you are either on the train and understand that as a guiding priciple or not.