Family Business: What to Consider When Starting a Business With Your Loved Ones

Businessman holding a family-like figureFamily businesses dominate the American market. Around 90% of U.S. businesses are family-owned, according to the U.S. Census Bureau.  These companies are also responsible for employing over 60% of the country’s workforce, according to a recent report by business mentor providers SCORE. In fact, a lot of big companies like Wal-Mart, Comcast, and even Ford are family-owned. 

Starting a business with your partner, or even your whole family, is challenging as it is fun. On the one hand, it’s a dream come true to earn while spending every minute with your loved ones. On another, there’s also the occasional arguments ranging from doing the dishes to who should really be in charge. However, creating and running a successful company means that you can leave a fruitful legacy behind to your partner or children. 

Whether you’re starting a restaurant business or capitalizing on an opportunity for a commercial cleaning business, here’s what you need to consider when starting a company with your loved ones. 

The Roles

One of the first hot-button topics you’ll discuss with your loved ones is each member’s role in the business. Of course, you don’t want anyone to feel like they’ve been given an unfair assignment. This may lead to in-fighting that can bring down your business it even opens. To avoid this, make your assignment process formal and organized. 

Interview everyone involved and ask them about their strengths and skills. Once that’s done, take your time in assigning each person to a role. You may need your spouse or another senior partner to help you out with this. Once you’re done with assignments, gather everyone and make the announcement. Make sure to be clear about each role you assign your members. Create definite limits to what they can do or manage.

The Boundaries

Disputing businesspeopleWhen you’re running a company, whether you’re with family, friends, or business partners, you can never truly avoid conflict and misunderstanding. As such, you should draw clear boundaries between work and home. An easy-to-understand rule is to never discuss family matters at work and avoid talking about work when at home unless there’s an emergency. This way, you don’t get distracted by personal problems while in the field, and you can relax once you finally get to sit on the couch.

Thinking of an Out

While it’s sad to think of an exit plan, it’s essential for any family business. You don’t want your family to be in hot water after spending all your savings on an investment that just didn’t work. Take your time in drafting one and decide whether you want to sell the company or transfer it to a successor. You should also ask your accountant or financial advisor on the best way to cut your losses.

Creating a family business is thrilling and difficult at the same time. You will encounter challenges like personal arguments taking up work hours (and vice versa) and the occasional financial hiccups. To survive through thick and thin, you need to be transparent and precise about everything — from roles to your business’ exit plan. The biggest reward isn’t that your company finds success, it’s that you reached that success with your loved ones.

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Positive Displacement Flow Meter Options

It is well known that you cannot manage anything you cannot measure. A flow meter is thus essential for all residential and industrial machines. It measures the mass or volume of a liquid or gas and is also called the flow indicator, liquid meter, flow gauge or flow rate sensor based on its industry.

Irrespective of its sector and name, the flow meter will improve the accuracy, resolution and precision of your machine. With most residential and industrial machines now running on electricity, electronic flow meters are essential to ensure the current will not harm your machine.

Other than the meters for regulating current flow, positive displacement meters are used in most industrial applications dealing with fluids. These are volumetric measuring instruments that will measure the precise volume flow of your machine with each revolution of its internal components.

Here are the types of positive displacement flow meters that might suit your application.

Reciprocating Piston Meters

These are at times called oscillating piston flow meters and come in multiple, single, rotary and double-acting flow meter varieties. Each piston in these flow meters will be magnetically or mechanically operated to fill cylinders with fluid then discharge it.

Every stroke is equal to a specific fluid measurement. Reciprocating piston meters are used for oil metering and residential water service applications where they water along with fine sand and dirt.

Oval Gear Meters

These comprise oval-shaped gears with close-fitting synchronized teeth. The rotation of the gear shafts will generate a fixed liquid amount through the meter. Monitoring the shaft rotations will enable you to calculate the liquid flow rate.

Oval gear meters are entirely accurate since the slippage between their gears, and their housing is minimal. The process fluid’s lubricating properties determine the turndown ratio of your flow meter.

Nutating-Disk Meters

These mark the most commonly used positive displacement flow meters, particularly in residential water applications. They comprise a movable disc positioned along a concentric sphere inside round side-walled units.

Nutating disc meters range from 2-5/8 inches in size and will handle fluid pressure ranges of 150-300psig. Their calibration will vary based on its fluid’s viscosity.

Rotary Vane Meters

Rotary Vane Meter

These are available in different configurations though they all work based on the same principle. They have evenly divided rotating impellers and at least two compartments in the chamber. The impellers’ rotations will be counted then documented in volumetric units.

Rotary vane meters are generally used in the petroleum sector and support maximum temperatures of 3500 F and pressures of 1000psig.

Roots Flow Meters

These closely resemble oval gear flow meters. They have two-lobed impellers that will revolve in the opposite direction within a single body housing. The peanut-shaped gears in root flow meters will emit a specified fluid volume with each rotation into the chamber.

The above positive displacement flow meters have a high turndown and are quite accurate. Moreover, they can be used for corrosive, dirty, and very viscous fluids and will no need no straight runs for optimal fluid flow.

These flow meters are however more costly and more cumbersome compared to other flowmeter variants like the magnetic, orifice plate and vortex.

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Plumbing: When to DIY and When to Call an Expert

The average home has an extensive plumbing network. Just think of how many items in your home require plumbing. There is maybe one faucet for the kitchen sink, another faucet for the bathroom, and yet another outside near your garden or shed. Add toilets, showers, and baths to the mix and you have a comprehensive plumbing system that supplies water throughout your home, among other areas.

However, at one point or another, something is bound to go wrong. One of your faucets may start leaking or simply not work at all. An underground pipe might burst and cause damage to your entire property. These are problems that need immediate fixing – but who should fix them? Can you fix them yourself or should you call a professional?

When to Do It Yourself

There is a host of plumbing jobs that you can tackle with confidence. One such job is a leaky faucet. Repairing a leaky faucet is easy once you know what type of faucet you have. There are four kinds of faucets: cartridge, disc, compression, and ball type. Of these four faucet types, only the compression faucet relies on rubber washers. If your compression faucet is leaking, then the washer is to blame – you will have to replace it. Make sure that you have the right size when buying a new one. If you have one of the other three faucet types, then you have to replace the O-ring or neoprene seal.

Another easy plumbing job is unclogging a drain. Who hasn’t encountered a clogged drain at least once in their life? If you haven’t, then you’re lucky. Still, knowing how to de-clog a clogged drain should be on your list of things to know. There are many reasons a drain could be clogged. One of them is hair, which can bind with grease and cause large blockages in your drain system. The best fix for this is to make sure that it doesn’t happen in the first place: put guards over your drains to catch hair and other debris – and ensure that you clean these guards regularly. However, if your drain is already clogged, the easiest fix would be to pour boiling water down the drain.

When to Call an Expert

contractor checking the sinkNo matter how handy you are, there are jobs that you really should not try to fix yourself. An example would be replacing any pipework. It may look like an easy and straightforward process, but you’d be wrong – make the smallest mistake and you’ll be starting over from the beginning, or even worsen the problem. The job could quickly spiral out of your control.

This is when you call in the plumbing experts. They’ll come in vans armed with flatbed toolboxes containing all the gear and equipment for the job. With the right tools, as well as experience and knowledge, experts can quickly and easily do the job.

It’s good to know how to fix things around the house, especially when it comes to plumbing. However, as systems and homes become more sophisticated, it’s best to call the professionals if you’re not sure you can tackle a job yourself.

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You Have Them: Four Qualities of Successful Businesspeople

When you want to achieve glory and financial success, starting a business is one of the best paths to take. You get to do what you want. You get to work on your passion. And you get to be your boss. And your chances of achieving your goals increase when you have a trusty partner to work with. However, it should be noted that doing business is a challenge. The road to success is paved with obstacles, which may even bend your spirit. But if you want it, you will always find a way.

Successful businesspeople have a lot of common denominators. They have almost the same set of qualities that sets them apart from the crowd. And these are the qualities that you might even have—all you need to do is to awaken them. You have to hone them. Be inspired by some successful businesspeople, such as Richard Branson, Bill Gates, and Steve Jobs. Look at their characteristics and use these traits as your foundations.

Whether you are pondering on starting a cookie business or a tech one, here are some of the qualities you ought to keep in mind:

They are passionate

It has always been said that passion makes a business work. And it is, especially if the cause you are working on really matters for you. Passion is somewhat your raw fuel, which you will turn into an inspiration that will make your business work. Sometimes, the willingness to make things work happens when you are focused on the prize—so you ought to keep your eyes on the prize so that you will remain inspired.

They are visionaries

Businesspeople do not just think of their short-term wins and comforts. They are looking to make things last a long time. They are looking to leave a legacy or something that will change the way people view the world. This is evident among businesspeople and marketing leaders, such as Bill Gates, Steve Jobs, and Larry Page and Sergey Brin.

business people making plans

They network well

Businesspeople do not just stay within their shell. The world is their oyster, so they make the most of it by networking. They recognize the fact that they cannot always do things on their own. They need to find people who will complement their skills. They have to find someone who will become their mentor. With all these motivations, businesspeople are encouraged and inspired to become good at networking—that’s how they will be able to find the right people to help them.

They are unstoppable

There will always be challenges, and some of them can even break your will and drive. But successful businesspeople do not let these things crush them. They have this enthusiasm to take revenge on failures. They want to prove their naysayers wrong. They are unstoppable.

Being a businessperson requires you to develop a set of qualities and traits that will help you further your cause. Take inspiration from some of the contemporary visionaries and commit yourself to self-development and improvement. You can always find a venue where your idea can flourish alongside your qualities.

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Focus on These Ranking Signals to Get Ahead

seo icons on a laptop's screenThe ranking of your website matters because it may make or break your brand. If you are not on the first page, you won’t get as many clicks and fewer possibilities to convert. There are factors that will affect the rank of your site, know what these are and pour your resources on them to get the results you want.

An SEO consultant from Salt Lake City cites the following ranking signals to take note of when creating an online marketing campaign.

Click-Through Rate

The click-throughs your site gets is a strong and relevant ranking signal that you should integrate into your campaigns. Use Google’s Analytics to determine which pages get the highest traffic. Once you identify these, work on its calls-to-action to improve your conversions.

If the CTR is too low, you might have to change and re-write its meta descriptions and title tags.

Search Intention Sync

When a user browses the Internet, they have definite intentions that are along the sales funnel. They might be searching in general for a product or a solution to their problem, or already have something in mind and need a bit more convincing. If your page is relevant to their intent, Google will rank it higher.

Keywords play a role in identifying the behavior of a potential customer. If they input specific brands or places, you can get a glimpse of what they want. One of the ways to help you understand the thought process of a person is by inputting queries in Google and review the results.

The results that come out will lead you to an answer about their intentions.

Content is King and Queen

Algorithms and intentions change over time, but one thing will remain the same, content is still the king and queen of search. The videos, articles, podcasts and others you publish are the reasons people click on your links and browse your pages.

Focus on topics that your audience wants and needs. Build authority and an expert voice in your niche to draw leaders you can collaborate with. Authoritativeness entices people to listen to you and increases the likelihood of conversion.

Detailed is the Way to Go

Google is increasingly favoring longer posts; the search engine wants comprehensiveness from websites. When you make content, make sure it contains most of the information a visitor needs. Include details such as contact information, addresses, solutions, answers and others.

Use TF-IDF analysis to determine the frequency of particular search terms on the pages of your competition’s websites. This enables you to identify relevant keywords and concepts.

Bounce Rate and Time on Site

Closeup on businessman holding a card with CTA CALL TO ACTION message

These two signals are byproducts of user experience, and Google values them when it ranks websites. Create content and include calls-to-action that lengthens the browsing of a visitor. Keep them engaged throughout their experience so that they click the links that lead deeper into your website.

Tease them with snippets or topics that make them want to learn more about it.

When planning a campaign, consider these search signals; these can improve your ranking and get you more satisfied customers. Consult with your team to determine the metrics that enable you to identify intent and the types of content that works.

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