Wednesday, February 1, 2012
12:14 pm mst
Got the business owner blues? Is being a business owner tougher than you expected?
What business owner hasn't, at one time or another, said to him(her)self - What was
I thinking??? I must have been out of my mind to do this!!!
You buy a business or start one from scratch
for many reasons:
- you want to be your own boss
- you want to be more in control of your
- you think you have what it takes to run a profitable business
- you look forward
to enjoying some perks (more income, more time, ...)
Then, after you're in, commited, you realize that you're putting
in more hours than you ever used to, your debt has increased due to start up costs, your taxes are higher, and that being
profitable most likely will be reached later rather than sooner. One evening after a very long day, you sit on the edge of
your bed with your head in your hands and ask yourself, 'what was I thinking!!!'
Well, hang on to that dream of
yours; it's in you for a reason. Sure, your vision is tougher in 'real life' than you expected, but that doesn't it's time
to bail. It means you just have to get crystal clear on your vision and then get super organized in your office. It also means
you need to learn time management, people management, and self-management.
Self-management can be a big
challenge for many. You think you need to be everything to everyone one. You try to do it all yourself. You feel
pulled in a dozen different directions (probably because you are). Here are a couple of self-management tips:
1. Be realistic about what is feasible/doable. Making ridiculous expectations of yourself
will only lead to frustration and anxiety.
2. Regardless of how much work there is to
do, you still have a human body that has physical needs for rest, exercise, and rejuvenation. You can push yourself
hard for x period of time, but you can't do that indefinitely. If you do that, your body will at some point give out on you;
you will get sick or diseased.
3. Make sure you stay connected to the aspects of the
job that drew you to ownership. For example: If you opened a service business because you enjoyed customer contact,
then make sure you still make time to interact with customers. If you started an orthopedic office because you like doing
surgery, make sure you still do a few surgeries now and then.
4. Get some support.
Connect with other business owners who might share similar challenges. Hire a coach to help you make time for yourself. Hire
help, when you can, for job responsibilities that you don't need to do yourself (e.g. - administrative, bookkeeping,
You're not crazy to doubt your ownership goals. You just need to step back, reconnect to your vision,
give yourself a well-deserved break, and create a support-system of peers or other professionals who can help support you
along your journey.
(If you have never used a coach before, why not give it a try, see what it's like.
I offer a complimentary session that focuses on 'you'.)