Business Resources

Articles | Q&A | Blog Posts

Category Archives: Starting a Family Business

from-job-to-startup

Transitioning from a Job to a Startup

By | Business By The Book, Coming Up with an Idea, Planning, Self Evaluation, Starting a Family Business, Starting a Part Time Business, Starting Up | No Comments

Q: This question is related to transitioning. My husband has a job with great benefits and is making more than he ever has in his line of work, which he has been doing for 20 years. In the beginning of his career, he always wanted his own business but it just never worked out. As our oldest children are entering the teen years, going out on his own could serve many purposes: to earn income, teach the children about entrepreneurship, and develop a family business. How should we prepare for the big leap so to speak? It just seems like we should…

Read More
start-a-biz-part-3

Starting Your Business – Part 3

By | Business By The Book, Buying a Business, Buying a Franchise, Coming Up with an Idea, Planning, Self Evaluation, Starting a Family Business, Starting a Part Time Business | No Comments

In my initial post in this series I suggested a step-by-step process for launching a business. This article will focus on Step 3 – Evaluate, where you evaluate the opportunities you’ve identified. (See Part 2 of this series if you missed my explanation of Step 2 – Generate). Evaluating Opportunities – In this phase, the ideas generated in Step 2 are evaluated using the criteria established in Step 1. By using this methodical process of starting a business – and with God’s guidance – you will hopefully develop a high-quality business idea that can be pursued with confidence and enthusiasm. In this phase you want to eliminate bad…

Read More
start-a-biz-part-1

Starting Your Business – Part 1

By | Business By The Book, Planning, Self Evaluation, Starting a Family Business, Starting a Part Time Business, Starting Up | No Comments
start-a-biz-part-1

In addition to wealth generation and Kingdom impact (such as we see with the Cook’s Pest Control case), having your own business – especially a family business – can also reform the family economy and relationships. A family business can reverse the conditioning by our consumer-driven economy to spend our earnings on wood, hay, and stubble rather than invest for a future return. Further, a family business can re-integrate the family, since one of the unfortunate consequences of the industrial age has been the “disintegration” of the family as we typically go in opposite directions to work. Finally, a family working together…

Read More
start-business-with-no-money

How to Start a $400 Million Business with No Money

By | Business By The Book, Financing a Startup, Growing a Business, Organization & Strategy, Planning, Starting a Family Business | No Comments

John Cook, armed only with a healthy mix of creativity and desperation, started Cook’s Pest Control with virtually no money in 1928 on the cusp of the Great Depression. The business is still owned and operated by his family, now in its fourth generation, and has grown into the seventh largest pest control firm in the U.S. with over 1,300 employees and 32 offices. Note that while most aspiring entrepreneurs dream of financial success like the Cook family experienced, as faithful followers of Christ we also need to view business as the Cooks do: it is a means to glorify…

Read More
becoming-more-entrepreneurial-family

Tips to Becoming a More Entrepreneurial Family

By | Business By The Book, Coming Up with an Idea, Leadership, Self Evaluation, Starting a Family Business, Starting a Part Time Business, Starting Up | No Comments

Struggling to get started on a family business? Try one or more of these types to begin your journey: Start a low-cost and low-risk business to simply to teach your family about entrepreneurship such as washing cars, mowing lawns, etc. While the cost of their “tuition” is inexpensive, the value of their lessons is greater than most college courses. Start a family investment club — teach your family (or learn along with them) how to evaluate companies and their investment potential and set up a small trading account to make trades and track investment choices. Create new family games — play fun games…

Read More
legal-services-business

Ideas on How to Start a Legal Services Business

By | Business By The Book, Organization & Strategy, Outsourcing, Planning, Self Evaluation, Starting a Family Business, Starting a Part Time Business, Starting Up | No Comments

Q: I’ve had 13 years of attorney experience as a litigator with a large brand-name law firm and then as a corporate lawyer, where I just got laid off. At this point in my life, I’m interested in doing something different and would love to structure my work to have more time with my family and ministry, but I need to provide for my family. Can you suggest any ideas for me? A: You could offer your legal expertise on an hourly basis as an independent attorney. Consider building a small client base through direct selling and by posting your profile and…

Read More
info-tech-business

Ideas on How to Start an IT Services Business

By | Business By The Book, IT Outsourcing, Organization & Strategy, Planning, Self Evaluation, Starting a Family Business, Starting a Part Time Business, Starting Up, Tech, Writing a Business Plan | No Comments

Q: I am an out-of-work IT director that cannot seem to land another job. Do you have you any advice or suggestions? If I could come up with a family business that could keep us together and clothed and housed and fed, I’d be more than delighted! A: You could plug into a virtual IT support network and provide services as an independent IT support specialist or your could sell several small businesses your services as a “fractional” IT Director and manage their network, provide user support, etc. at a fraction of the cost of a full-time employee. The best opportunities for…

Read More
father-encourages-entrepreneurship

A Father Encourages Family Entrepreneurship

By | Business By The Book, Coming Up with an Idea, Leadership, Starting a Family Business, Starting a Part Time Business, Starting Up, Writing a Business Plan | No Comments

What happens when a father sits his family down and lays out a vision for entrepreneurship?  When one father I know did this with his family, the results were dramatic. First, the vision was simple: he encouraged the family to think and pray about how they could contribute to the family economy by using their God-given skills and talents. Second, the strategy was simple: work from the family home, encourage each other and find some initial customers that will pay you for whatever you can do. Within a short period of time everyone in the family had a business and…

Read More