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There's no doubt about it... Owning your own business can be tough work. So, why do people decide to do it? The reason there is a lot of imagery of mountains here at BizGrips is because a mountain embodies what it feels like to own a business, and to start a business. Looking up from the foot of a mountain tends to awaken this sense of wonder deep down. Once you start climbing however, exhaustion and doubt kick in. However if you make it to the top, you can look back and say it all was worth it. Because at the top of the mountain exist the crisp mountain air, quietness, and one heck of a killer view.
So what is it like owning a business? Well it's a lot like that! Now let's dive in and talk about what it's like to own a poorly run business vs a tactical business.
What We Don't Want
The last thing we want is to be an overburdened employee. As an entrepreneur you create great things that benefit everyone, including you. When done incorrectly, running a business can make you feel like an overburdened employee.
Statistically speaking, a study performed in 2015 by Constant Contact showed 51% of business owners don't have time to focus on themselves. Now, does this really encapsulate what it's like owning a business? Partially... The process it takes to start a business is very time consuming, and at times stressful. But once the business is built, a successful business owner should work on making the business so capable that it can run without you there. And this is why the extra work and stress put in upfront is worth it because now that it's built, your business should be generating you money even while you sleep. And that gives you time to focus on yourself.
Furthermore, the same study showed that 40% of business owners didn't take vacations to see family and friends and 56% said they felt they couldn't be away from their business. Once again, this does not fully encapsulate what it's like to own a business. This does definitely define what it's like at the start of creating your business. A business done right grows and compounds over time. Remember, nothing that's worth it comes easy. Putting in more work today than anyone else is willing to put in will allow you to have tomorrow more free time and independence than anyone else can.
What We Want
On the flip side, 60% of small business owners said they love running their own business. Why? Because it allows them to pursue their passions. It's very hard to truly pursue your passions when you are working a 9 to 5 job for someone else. You don't have the ability to wake up one day, and think "I want to do this today. I think this will help people" and then go and do it. This is what it's like owning your own business. This is the joy that comes from running your own business. If you have an idea of something better to do, you can just go and do it.
Similarly, 59% of small business owners said it allows them to have the freedom to control their professional lives. When you run your own business, there is nothing you have to conform to. You set the standards. If you want to show up to work in sweatpants, you have the freedom to do that.
You see what it's really like owning your own business is having independence, the freedom to set your own hours, the freedom to pursue whatever you want, and the joy of getting to pursue something you are 100% passionate about.
What does it feel like owning your own business? As a small business owner, you are the creator of what you put out. There's a very rewarding feeling you get when you finish a project. As a small business owner, you get that feeling continually, when done the right way. If you want independence, become a small business owner, and create a business so efficient you could leave, and nothing would change. When talking about small business owners, Gail Goodman once said it's "One of the toughest jobs, but also the most rewarding." Choose your path sailor. I'll see you at the top!
Catch you on the flip,
P.S. If you are wanting to, or have ever wanted to start a business, but are lost on where to start, click here and check this out