The Family First Entrepreneur

As business professionals, it’s important that we keep our priorities straight. A term I like to use to describe this is the “Family First Entrepreneur.” These three words came from a brainstorming session I had while on a road trip. I was trying to come up with a “simple idea” that cut to the marrow of how I see myself as a person. When I voiced the words, “Family First Entrepreneur,” I realized I had created a statement that was simple enough and powerful enough to create a movement.

A Family First Entrepreneur is someone with an entrepreneurial mindset who keeps his or her family first.

As we look more deeply into this definition, we must acknowledge that when business people put their families first, those two elements—business and family—affect one another in profound ways. For example, when I want time with my kids, that choice relates to and has a direct effect on the time I spend on business and other endeavors.

Family First Entrepreneurs make business choices based on the potential impact they will have on their families first, and on business profitability second.

People who align with this principle realize that their families’ ability to function properly also affects their businesses. There is nothing like family trauma to make a day at work both unbearable and unproductive. They realize they need a healthy marriage and family life to be their best while producing a living. At the same time, making a good living is part of keeping your family healthy and safe, so a successful business is one of the best gifts you can give to the people who depend on you. Family First Entrepreneurs need a healthy work-life balance, because the two are so interconnected.

Lastly, Family First Entrepreneurs have an attitude about wealth creation that puts the goal of building wealth for the enhancement of their family first, and for material possessions second.

Whether you’re an empty nester, a single person, or have chosen not to have children, you still have a “family.” If you are someone who puts your family first, who wants work-life balance, and who would enjoy creating wealth entrepreneurially, I welcome you.

Now that you know what a Family First Entrepreneur is, here are the Top 5 ways to implement this into your life.

1. Kids spell love T-I-M-E. Make certain that there are times in your days and weeks that are sacred. Gather around the breakfast and dinner table every day. Slot times in the evenings where all phones and computers are off. Save the weekends for the people who matter more than money.

2. Find a way to make the home office a reality. Do whatever it takes, as it allows for you to stay more engaged with the people you love throughout your work day.

3. Let business associates know that you are a Family First Entrepreneur. It will make your choices and priorities already anticipated. Don’t expect people to know that you put your family first—tell them from the get-go.

4. Plan your future income streams around the goal of remaining family first. Don’t go into a business where you will have to travel 200 days a year. Plan your business to scale around a brand or idea; not you. If you are the business, the business will own you.

5. Family First Entrepreneurs must have more financial options, than obligations. Time has to be bought. Take control of your time by engineering a lifestyle that sets you up to have a surplus of income and investments. Entrepreneurs are good at growing their income, but the truly wealthy Family First Entrepreneurs know the principal of the sage statement: It’s not about how much you make—it’s about how much you save and invest.

Studies have shown that the best way to affect change is to change how people think. When you adopt the title of Family First Entrepreneur, it changes how you think and how you approach day to day decisions. It becomes a filter to run decisions through. It’s as simple as asking yourself, “What would a Family First Entrepreneur do?”