10 Common Problems for New Businesses


Forgetting About Family

You can find time to work and spend time with your family, too.
You can find time to work and spend time with your family, too.
© iStockphoto/AnthonyRosenberg

New businesses are a tremendous time commitment. It's not uncommon for entrepreneurs to spend every waking hour thinking about some aspect of their fledgling business. Even if they're not physically at the office, they're brainstorming about marketing ideas, worrying about bank loans and debating colors for the new sign.

While launching a new business is exciting, it's also financially stressful. Financial stress is among the top causes of divorce in the United States [source: Orr]. This is why married couples need to be equally committed to starting a new business. Even if only one spouse is an active partner in the venture, both need to believe in making sacrifices for its success.

The same is true for the entire family. A teenager might need to cut back on personal spending so his parents have more money for the business. Grandparents might need to babysit the grandkids more so that mom and dad can stay late at the store.

It's equally important, however, that the entrepreneur remembers to makes time for family and friends. These support networks are what will sustain him or her through the long hours and stressful financial times ahead.