Most people embark on business ownership having at least a vague notion that it will involve a lot of hard work. Although, often the apparent ‘pros’ overshadow the ‘cons’ (I will get to choose my own hours; I will be more available for more kids; I can take holidays whenever I want).
Anyone with a modicum of success will provide you with another perspective: running a business also requires sacrifice. Perhaps the ‘failure’ rate of small business (i.e. the number who don’t make it past two years) is linked to a failure to underestimate the price business owners pay to reach their goals.
Depending on the nature of your business, you may, initially at least, have to say goodbye to your social life as you knew it. Restaurant and café owners (with their night and weekend working hours) can attest to this, as can bakers (with their early morning starts), as well as anyone with a deadline. Some of your friends won’t stand by you, but hopefully you’ll have some great friends who are still there when you come up for air!
As my business has grown, my TV and movie watching hours have shrunk. This is in part because spare time is often used to catch up on business tasks, or because I am exhausted from a busy week and can’t stay awake! Although perhaps not a great sacrifice, it’s certainly a change.
You will have to sacrifice comfort: meaning that in business, you should be constantly learning and facing new challenges. If you are not, it probable means your business is stagnating. If you are, it is a good thing, but it can be mentally exhausting! In our technology-rich, fast-paced society, so many things change quickly and in order to keep progressing, you cannot be content to stay in your comfort zone. This doesn’t mean purposely setting yourself difficult challenges! But it does mean keeping yourself informed about your industry and business in general, and being on the lookout for opportunities to improve and do what you do even better than before.
Michelle Grice writes a weekly column for business women in The Western Weekender
