Learn How Family and Friends Can Help Start Your Business

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Learn How Family and Friends Can Help Start Your Business
23 Nov 2021
5 min read
TWN In-Focus

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When it comes to starting a business, seeking support from friends and family seems farfetched, as you don't want to look incapable! This blog, however, uncovers some key insights that can show you how you can take your business to new heights with the help of your loved ones and make new ideas shine for yourself as a business! #ThinkWithNiche

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Starting a business with your loved ones’ support can play a differentiating role in your ultimate success! Sure, there are ways you can make it all alone, but the possibility of succeeding is significantly more when you have the support of the ones’ that matter to you the most.

Here’s the list of steps that can help you learn how family and friends can help start your business:

Startup Business

Startup Business is nothing short of running a marathon on a dehydrated body! You need fluids to reach the finish line, and your friends and family might just be that to you and your business. Being too proud and not mustering the courage to ask them won’t do any good! They are there to support, so why not ask it!

Word of Mouth

Believe in what you are trying to sell, or nobody else will! Word of mouth is only effective when you sound convincing. When you plan to start your business, it is only wise to first pitch it in front of your family and friends and take their honest feedback.

New Ideas

Most people make the common mistake of exhausting themselves while thinking of ways to start their business alone. However, brainstorming ideas with others (especially your family) can be valuable as they are the immediate customers and offer insights about products and new business ideas that you might otherwise oversee.

Also Read: Rising Start Up Trend In India

Educate them about Your Startup business

If you smell skepticism from your close ones, there is a good chance it can be due to their limited knowledge of how you’ll be carrying out your business operations (meaning). Inform them about your target industry and what you’ll accomplish by starting your business in that industry vertical. What unique qualities do you possess, or what novel ideas do you plan to implement to provide you the coveted edge over your competitors?  Ensure you clear their doubts as precisely as you can while not only educating them but also demonstrating your proficiency.

Tell Them Explicitly the Kind of Assistance You Need

Some people just crave the peace of mind that their family and friends will offer them sorely needed encouragement and moral support. Some might need physical aid in setting up a retail space. Others might need financial help or even a hand in spreading out the word of mouth about their brand. Inform your dearests what exactly you need and how it would help your business. It’s often the case that family and friends wish to reach out and help, but they don’t know just how!

Put Their Referrals first

Did your uncle refer his friend from his departmental store? Is your newest customer your best buddy’s flatmate? Make referrals Know what is referral marketingcoming directly from your family and friends as a top priority. Consider them as VIP clients! When your referrals feel important and well-attended because they know the business owner, more often than not, they are eager to market and promote your business among their family members and friends, and give you even more referrals.

Go Over and Above Their Expectations

Discover ways, both small and big, to eclipse the expectations of your family members and friends. They are essentially your most important brand ambassadors, so make efforts to precisely represent their worth, both in your personal and professional life. Never take their support (or anyone’s support for that matter) for granted! No one’s under any obligation to help you just because you are related to them in some way or the other. Your efforts to demonstrate their value won’t go unnoticed, and it also has a tint of satisfaction knowing you did right by those about whom you care!

Appreciate Their Help

There are ample ways in which you can extend gratitude! Although, the chief thing is to be utterly sincere. Plan a fine evening for them, take them out for dinner, make a thoughtful toast, send over a gift-basket having all their favorite things, or even get down to write a thank you note or letter telling how essentially their support means not only to your business but also to you!

Never Forget- Relationships Come First

Ensure that whatever you do, you never let business affect your relationships. There can be instances where you feel disappointed that someone has not helped you in a way you had expected, but you have to remember not everyone can help you in a myriad of ways!

Also Read: How To Validate Your Start-Up Idea To Save Time And Money

What Are The Major Take Backs from This Article?

Having the support of family and friends is something we all desire when it comes to making big decisions, such as starting a business. All you have to do is be informative, valiant in asking for support, and willing to return the favor! Here’s an interesting article for you- seven businesses that were founded by good friends!