Our Family Business Model

0

When asked the “where do you want to be in 5 years?” question during a job interview, I often try to answer very professionally. A quick, off-the-cuff response like “leading a team at this company” or “utilizing my best skills to achieve my sales goals.”

Do you want to know where I want to be in five years? I want to be killing it in the stock market and taking vacations to amazing places! Living in a beautiful home!

These ideas stayed dreams until my husband, and I began operationalizing our business – Our Life.

It’s true. We run life as a business.

My husband and I strategically think about our plans for the next three to five years and determine goals to help us get there.

We strategize on what we want to accomplish and have lunch multiple times throughout the year to assess progress. These lunches carve out a specific time to discuss our family plans without the conflicting priorities of life getting in the way and without feeling like we are talking about the future all the time.

We can live in the moment day-to-day because we have dedicated time to plan.

Breaking Down the Family Business Model

We divided our Family Business Model into categories that we use during our conversations throughout the year to assess our progress.

Financial Goals

How much money do we have in our accounts, and how much do we want to have saved by X date? We also look at the actions we’ll take to achieve the goals we set.

Community Goals

How and when do we want to give back to our community? How can we incorporate the kids into volunteering and teach them about giving back? This includes commitments at the kids’ schools, volunteer opportunities in our professions, and non-profit organizations we are passionate about supporting.

Domestic and Health/Wellness Goals

We love our home, but it was built in 1982, and while it has been updated throughout the years, there is continuous work to be done. This time allows us to prioritize our home improvement and renovations projects to remain on the same page. I have shown up at lunch with paint samples, don’t judge.

Additionally, I discovered Weight Watchers a couple of years ago, and we discussed how this would affect our family dinners. My husband staying connected with my personal health and wellness goals helps my success, even if weight is a personal metric that only I am tracking.

Family Engagement

Finally, my favorite topic! How are we going to stay happy as a family? We discuss vacation plans and ideas, fun activities with the kids, and date nights. Currently, we have a goal to cook as a family at least once a month, when the kids pick the recipes and even help grocery shop.

A Few Tips to Get Started

• Start small, pick one or two categories, and think about what you want to achieve in these areas in three years.

• Think about what actions you can take to achieve these goals over the next 12 months.

• Write it down! Excel is your friend, a dedicated notebook for documentation works well too, and bring these documents with you when you discuss with your spouse or family.

The magic will start happening when you begin to witness progress on your personal goals.

Download and use this printable from MALWEST Design to develop your own Family Business Model. 

Remember, goals are not Amazon Prime; they don’t happen overnight.

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here