There is one thing not many small business owners want to admit or talk about around the table, and you have probably thought it yourself but thought it was only you, so you kept it to yourself. It is a question we ask ourselves as owners perhaps weekly, if not during certain seasons, daily. When we are around others that have thought about going in business, we encourage them, tell them all the amazing perks of it but there is that little voice in the back of your mind that wants to tell them, don’t. Well, here I am, talking about it – is it worth it?
Being a small business owner is exhausting. You may love what you do, however when it comes working on leads, forecasting the next three months or even creating the marketing strategy it is exhausting. If you are not working in the business, you are working on the business. You perhaps started your business by just working in the business doing what you love, however that was not enough, so you began putting extra hours. Never ending thinking of work. Most business owners go into business because they want to do what they love full time and get paid to do it. However, with the extra “thoughts and duties” you must do – it is easy to forget that love for it all.
There is the financial aspect to it as well. You will probably be hitting in those savings for the first 2 years before you can really enjoy the profits your business has been making. There is no guaranteed monthly income, not knowing what the result could be at the month when all those debit orders go off, is a constant stress small business owners go through. You might have to say no to more family outings than ever before just due to not knowing the financial outcome in the beginning.
Outsiders only see the “perks” they want to see for small business owners. “You get to leave work early” – true, however I will feel guilty for leaving early and will begin to think of the amount of money I am losing if I do leave early. “You can take leave whenever you want” – true but no one is going to pay me while I am on leave. “You don’t have to answer to a boss” – a small business owner has more people to answer to than just one person. You must answer to your family, to the debit orders about to go off next week, to yourself (and that is the hardest person to answer to). If you do not have a business coach or someone keeping you accountable, yes it does not have to be done but the consequences are going to catch up.
Benefits to being a small business owner though, are defiantly rewarding.
Even though there is a financial risk in the beginning of business, with the hard work that is being put in, your financial reward will exceed any kind of money you would have made working for someone else. All that hard work you put in, you get that money in your pockets and not in some CEO who does not even know who you are. Knowing that you can finally financially benefit on your talents and skills, is worth the financial risk.
You will never learn more than when you go into business for yourself. Whether you have worked for another company before or went straight into your own business, you will learn every aspect of business. All that time finding leads, working on your marketing strategy, learning how to put together a cashflow and understanding it will benefit your knowledge. This knowledge, is not something you will ever gain for working for someone else.
That feeling when a sale comes through… a sale you worked those extra hours for or sacrificed focusing on the kids’ game for. There are no words for that feeling.
That feeling when your business was just breaking even but you forecasted & made changes and now your business is paying itself back, there are no words for that feeling. That feeling when a client has left a review personally thanking and naming you for the work you did for them, there are no words for that feeling. The moment when prospects begin to respond to marketing strategy that you put together all by yourself, there are no words for that moment.
So, is it worth it being a small business owner? Yes. It is exhausting and frustrating at moments, and it will take over your daily thoughts but that feeling you get – that indescribable amazing feeling – is worth every low. Next time you are wondering if it is worth it or not – think of that feeling, you know which one – that will give you your answer.