How to Support a Loved One Who Wants to Start Their Own Business

Deciding to be your own boss is a notoriously big step. Starting a business is a risky process – but if a friend, family member or partner is planning to follow this route, there’s a lot that you can do to provide valuable help and support. In this article, we’ll reveal a few of the little things you can do to boost your loved one’s chances of success.

Make Yourself Available

One of the best ways in which you can be of help to someone building a business is to make them aware that you are there for them. Pushiness or over-eagerness may actually serve to pile more pressure on them, as they may feel obliged to actively look for ways in which you can help. Instead, simply remind them that your door is always open and your resources are at their disposal if or when they are needed. Of course, you need to be prepared to follow up on that offer when required.

Volunteer for Menial Tasks

Whether it’s stuffing envelopes or painting office walls, there may be some drudge work that is getting in the way of the business’s important central tasks. If you can take some of these tasks off your loved one’s hands, you may help to reduce their stress levels and enable them to focus on more pressing work.

Help Them to Achieve Qualifications

Individuals who are planning to start a business might consider studying for additional qualifications in order to bolster their skills and appeal to investors. If you are their significant other – or even their parent or guardian – you might agree to take on additional work to support them while they study, or to tackle more of the household chores to free up some of their time. There are simpler ways to help them too – why not become a cosigner for their private student loan to help them get the financial support they need for their studies? After all, undergraduate student loans can not only open the door to more job opportunities, but higher pay in the long run.

Spread the Word

Marketing is an exceptionally valuable resource. In order to successfully promote a new business, expenses related to advertising and promotion can be significant. That’s why even small actions – such as sharing links on social media – can be a great help to the owner of a new business. Each time you mention that business; you’re improving its chances. Try to think about anyone you know who may find your loved-one’s services useful. The more well-connected they are, the better.

Be Patient

Starting a company is stressful. In most cases, a business owner will be doing the work of multiple people for a number of months to get the brand off the ground. This means long hours and lots of pressure. If you want to help, be ready to listen to their gripes, complaints and frustrations. Be prepared to proofread documents and respond proactively to their requests for advice. Understand that you may not be able to spend a great amount of quality time with them for the foreseeable future. Eventually, this tumultuous period will end. In the meantime, though, the best thing you can do is have patience. Try to work out what they need from you at any given time. Do they want your assistance or do they just need to offload? Remember that unsolicited advice can often be more of a hindrance than a help. Wait for them to tell you what they require before you start rushing in trying to fix things. If you can provide a little calm for them, they may find these difficult times slightly easier.

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