Family Is Business
Family is business. What is the definition of family? According to Webster dictionary, a family is two or more people who share goals and values. In addition, they have long-term commitments to one another and usually reside in the same dwelling place. Moreover, the members have a group of things related by common characteristics.
What is the definition of business? According to free dictionary, a business is a rightful concern or responsibility of a person and partnership. In addition, it includes a corporation engaged in commerce, manufacturing, or a service for a profit.
This is the definition we will be working with for this subject because it accurately interprets the household unit for humans. The second meaning of business interprets everything else. When looking at the two definitions of each word, they may not seem to be related to one another. However, as we explore this idea, we will see how these definitions coincide with each other. Moreover how they are woven and carried out into every fabric of our lives.
That being said when we look at our world we see corporations, businesses, and systems in place that govern our lives. Even when we speak about the Government we’re talking about people. Therefore it’s people that are carrying out various responsibilities to keep commitments, in partnerships that are engaging in some sort of commerce. And within all of these systems, corporations, businesses, and partnerships are members of a family. Further more it is the language that is used in our society that blinds us to the fact that all of these systems are run by these families. So words like the company, management, executives, government and so forth cause us to be ambiguous this fact. Therefor it surmises to say that it is families that run everything, and these families form corporations, businesses, and partnerships, etc.
Because we are not taught in school to see society in this way we become disjointed on how to structure our families. Whether our families are a two parent home or one.
Now let’s look at the minute beginnings of how this happens. Under normal circumstances, you have a single person that meet someone. They find commonalities between them and decide they like each other. They decide to become friends and form a partnership. During this partnership, they start looking at how each person is contributing to the partnership. So they began to question how much money is coming into this verbal agreement and how much each person is willing to contribute to substantiate a gain. Furthermore, both parties want whats best for the overall benefit of the partnership. And therefore will begin to discuss/question the roles each person will be responsible for. Rather so that everything involved will run smooth and efficient, right? This is all happening unconsciously by the two parties because they don’t realize that they have now formed a business. After a while, this partnership brings in another person either planned or unplanned. Now the family business has expanded with the new addition. This is similar to a business taking on a new employee. And now the training to participate in the family business begins.
In most cases, the unexpected addition to the partnership can cause a loss of resources. Or at the very least a scaling down of expenses to meet the monthly budget. So they may look for help to be able to pay for the overhead which is the house or a rented apartment. In addition to looking at their overhead, they will take into consideration the cost of their amenities which are the food, clothing and personal items. In comparison a company may get an advance or line of credit for the same reasons, except letterhead paper, a banner or store front sign are the amenities for a company. Also Read
You see every household want to have monies left over for extra activities, pleasures, and investments. A company wants to get into profit for the same reasons. When there is more money going out for just the survival means of living, and not much coming in the household family business the Owner-Parent has to then look for how it can sustain itself. He/she will have to look for opportunities to procure more resources. Consequently, if this is not accomplished the business structure will struggle to have no gains what so ever and may go out of business or file bankruptcy.
Let’s take a look at a few definitions of certain everyday words to give you an understanding of why the family is a business. But first let’s consider the purpose of both entities so as to give ourselves a premise for examining these definitions.
Consider that the purpose of a business is to profit. And the means by which this is done is to provide a service and or product that people need or want. Which in turn solves a problem.
The purpose of a family is to profit. And the means by which we do this is to provide a service or product that the members need, and want. Which in turn solves a problem. We can now see the similarities in the two business dynamics. Moreover, we can draw the conclusion that for every building we see in our society it is some sort of business in operation. And behind those businesses are families in which it all started in the family household.
In my completion of this writing here are some everyday words being spoken without knowledge of their true business nature. In order to provide clarity, I will categorize each one as it pertains to the two businesses respectively.
Bond: In short – A binding agreement; a covenant-as in the company agrees to put the investor in the first position and pay them for a certain amount of time in the future.
Consideration: Something of value given by both parties that induce them to enter into the agreement to exchange mutual performances.
Partners: Two or more people united or associated with another who share goals and values to one another that are in an activity or sphere of common interest
Bond: an attractive uniting force that holds together -as in bonding with your children, Parents agree to take care of them, provide, protect and guide them until a certain amount of time.
Consideration: Regards, Esteem, a matter weighed or taken into account when formulating an opinion or plan-As in all members knowing the agreed upon roles they perform to contribute to the household