Entrepreneurship and Their Personal Environment:
The Effects That New Business Ownership has on Families.
The ambitions of new entrepreneurs can sometimes have a much more lasting effect than that of business success. The commitments of a new entrepreneur and the involvement of not only time and capital, but the lack of attention that is involved toward personal commitments can have a lasting and sometimes damaging effect on their personal relationships. Many of these personal relationships and commitments that are often damaged are in relation to the entrepreneur’s personal environment, in some cases, this is especially the case when the new entrepreneur is a parent or a spouse.
However, the secret side of the wanted title of entrepreneur that resonates with many who aspire to be their own boss or seek out that dream of financial autonomy, never hear of the many who have suffered financial ruin, anxiety, and damaged personal relationships that are beyond repair. Although, as many new entrepreneurs have evolved from trial and era, many new aspiring entrepreneurs are valuing not only their personal relationships but the time and effort that it has taken them to build those personal relationships.
Undoubtedly, the personal relationships still remain at risk during the times of family unity, solidarity, and when the entrepreneur must refrain from being an entrepreneur and return to their role as a parent or spouse. Additionally, the task of taking on the role of an entrepreneur should be noted that it is not a singular event when it is performed among families.
The financial aspect that must be taken into account should not be limited to, just that of the aspiring entrepreneur, but that of the spouse or domestic partner that could be affected by the outcome of any positive or negatives from a new business startup. However, it is also important for a new entrepreneur to gain a clear, concise support system, and it is advised that they approach the individuals that may be affected by their decisions of new business ownership, as a potential investor.
This can help develop the new entrepreneur’s personal relationships, allowing either their spouse or domestic partner with the ability to not only voice their opinion but also possibly help the new entrepreneur gain success through equal partnership. Furthermore, it will be vital if there is a formed partnership among a spouse or domestic partner, that both of the new entrepreneur parties realize the value of their personal relationships and maintain their personal environmental roles.
Subsequently, it will be imperative that if a formed partnership is indeed formed between two entrepreneurs in one family, it should be judiciously weighed if minor children are present. The outline of a formed partnership by two entrepreneurs should also remain equal in both aspects of their personal and professional environment. However, if the spouse or domestic partner’s viewpoint is different than that of the aspiring entrepreneur, their opinion should be valued and weighed without reproach.
The need for an individual to seek out entrepreneurship should never supersede that of the opinion or viewpoint of a lasting personal relationship. While it may be a long-term goal to reach business ownership for many aspiring entrepreneurs, often personal relationships and minor children often fall victim to the absent parent syndrome, all the while, the parent is still in the home.
The demand for the entrepreneur’s time is commonly overlooked by the very ambitious aspiring entrepreneur, as well as the failure to accept the fact that their relationships are failing. Although the most ambitious entrepreneur is not required to forego their aspirations of business ownership, their personal environment is demanding equal time from them as well as accountability if the new business venture is beginning to falter.
While minor children are usually the largest supporters or voiceless among families who have family members that are aspiring entrepreneurs; it is also these relationships that are also largely damaged by the absentee of either the entrepreneur or that of a working parent, who is the unconditional support system for the aspiring entrepreneur.
However, it is the responsibility of the heads of the family to not only ensure that their aspirations for business ownership are tangible and within a realistic scope of financial planning and business planning, it is also their duty as parents to ensure that the needs of the minor children are present. The aspiring entrepreneur, spouse, or domestic partner should collectively work toward one common goal, sustaining a support system for any minor children to ensure that they receive all proponents of proper growth, whether it is emotional or financial opportunities.
The role of the entrepreneur is not limited to just that of the entrepreneurial and business growth, but it should be noted that the entrepreneur will dedicate more time and resources away from their personal environment. The new aspiring entrepreneur should prioritize their personal obligations just as their business obligations. While in order to gain better insight and development of their personal relationships it is advised that any new entrepreneurs set a working calendar to maintain any personal events, prioritized them and ensure that the entrepreneur has maintained all commitments.
This will ensure proper emotional development for the minor children that may be involved in the new entrepreneur’s personal environment; as well as ensuring the emotional growth of the spouse or domestic partners relationship. While according to the Kauffman Foundation the new entrepreneur field is still a heavily male-driven industry, but only at 64.5 percent. (Guillies, 2017)
Although the new female entrepreneur is on the rise, it is not a noteworthy subject to detail about an entrepreneur’s abilities through gender, as a scale of measurement or merit. While, mothers and entrepreneurs which will have a correlating link according to the author, does have a cause of concern from an absentee parent perspective. This perception is only due to the facts of the bonding during conception that leads up to childbirth, which enables the mother to have a stronger bond with the infant up to the child’s development.
Furthermore, in today’s climate and ever-changing business community, entrepreneurship is, and should not be limited to a specific gender. Although, the evolution of business has shown many of today’s business community leaders that not only female entrepreneurs can compete on the very same platform as their male counterparts, but a female insurgence of excellence among top business leaders have shown the business community how irrelevant gender specification is in the business community.
The new aspiring entrepreneur should, in fact, consider what cause and effect their ambitions for business ownership success are worth. The new entrepreneur should gain insight through evaluating their decision of business ownership; as it has a direct correlating link toward ensuring their own personal success, as well as ensuring that they maintain healthy personal relationships beyond the scope of the business sector.
In conclusion, the gender, race, or sexual preference should have no bearing on their measure of success, but to what end will the aspirations of the new entrepreneur go, before realizing that the time for business ownership as a whole, may not be a viable solution for them in this current economic market. Finally, with the acceptance of equal pay, with female counterparts still being disputed among the business community. Many in the business community could speculate that this is one of the key elements to the evolution and successful rise of the female entrepreneur and their success beyond the title of homemaker and housewife.
Anthony Morgan
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