Interview (TV segment) with financial expert Louis Barajas about his book "Small Business, Big Life for Women." Barajas says many women started businesses during the recession to support families but face higher divorce and failure rates because they work longer hours and experience increased stress and health problems. He advocates designing a business that supports life (relationships/family) rather than becoming an additional burden. He also comments that startup costs can be low today because of the Internet and social media, and criticizes the federal "super committee" as stalling economic recovery and eroding public confidence, predicting electoral backlash.
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Officer RICK thank you. It's 6:16 right now.
All right, well, financial guy Louis Baragas joining us this morning. We were just shaking our heads talking about the super committee and you just can't turn to the government to try to figure it out. A lot of people are starting their own businesses. That's why you've got this book Small Business Big Life for Women. Now why women?
Well, we know that during this recession a lot of men have lost their jobs. A lot of women actually have started created their own businesses to help support the family. But the reality is when women start their businesses, there are higher divorce rates, higher failure rates. And the purpose of a business is to give you more life. I want people to really figure out how to create their own not job, but a business that can support the family and support the economy.
Why higher divorce rates when women start their own business?
Well, they're working longer hours. Everybody thinks if I start my own business I'm going to make more money and work less. But in fact they're working longer hours, they're spending less time with the family and it creates a lot of stress. In fact more stress related health problems with women when they start their businesses. So instead of doing that, I wanted to show people how to create a great life from their business. And it's a very different look at how you approach business.
And again, you're seeking this balance. Everybody's looking for balance in their life as far as their work life and their professional life time and their personal life.
When it's all said and done. I've never seen a U haul behind a hearse. Right. It's all about relationships, it's all about family, it's all about, you know, that, that and that's what's really important.
You know, you talked about the super committee and how the super committee is actually turning out to be a super failure. And you think that's going to be a big deal for any, well, not.
Only average the whole economy, they're going to stall this. They're artificially stalling the economy because of the egos. The problem is instead of giving this the solutions to be created by the politicians, they should have given it to economists or somebody who's a lot smarter than what's going on. But the egos are getting in the way and they're going to stall this. You know, they said we're out of the recession but this economy is going really slow and it's just going to take us a long time and it's going to affect like you said the psyche and the confidence of Americans.
But what's going on with our government? Isn't that just kind of a macro view of what a lot of folks out there are dealing with in their own households?
It is, but it's usually up to the leaders to actually show us what to do. And the problem is that I think people are getting really fed up with this. And I think that come the elections, we're going to see a lot of incumbents being elected out. So, you know, they're the leaders, they're supposed to be grown ups and show us what to do.
You talk about women starting their own businesses very quickly. Is that an expensive prospect or does it depend on what kind of business they're trying to start?
Well, it depends. But actually, in this day and age, not really because of the Internet, you can start your own website, you can go global through your own website, you can brand yourself through social networks like Facebook and you can brand your own pages ages. So it doesn't cost a lot of money.
Yeah, it really could spread fast. Small business, big life for women. Luis Barajas, thanks so much. Goodbye.
