3 Brutal Truths About Starting Your Own Business
Are you unhappy with your job?
Do you dream of starting your own business?
Wouldn’t it be nice?
Being your own boss.
Setting your own schedule.
Getting paid what you’re worth.
We tend to romanticize what we don’t have. Looking in from the outside, all we see is the glamour.
Let’s talk about the brutal truth of these three commonly held beliefs about starting a business.
Hear George & Mary-Lynn talk about the 3 brutal truths on The BIGG Success Show! Click a player to listen.
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Be your own boss
No more working for “the man.” No longer having to put up with the bull. Not answering to anybody.
The fact is you will answer to more people than ever:
To start, every single one of your customers is your boss.
Sure, it’s different. Sure, if you have enough customers, you can afford to fire one now and then.
But if you want to be a BIGG success in your small business, you better get really good at serving your customers.
Your financiers are your boss. It’s the golden rule: He or she who has the gold makes the rules! They will likely set parameters within which you must operate.
Of course, if you don’t need outside funding, you won’t have to worry about these bosses.
As a small business owner, you will answer to governmental entities at the local, state and federal levels. Once you hire your first employee, the requirements will escalate. Certain businesses are more regulated than others but every small business deals with government.
Employees as your boss? Are we nuts? Stick with us for just a minute.
If you believe in servant leadership, you may think of your employees as your boss even though it obviously isn’t the case.
We believe that it’s the leader’s job to make it as easy as practically and financially possible for each and every employee to do his or her job.
Set your own schedule
Can you picture it? Rolling into work late. Taking a long lunch. Leaving the office early. Afternoons on the golf course. Long vacations. What a life!
What a lie!
The reality is that, when you first start your business, you will probably work more than you ever have in your life.
You’ll have to, unless you have a lot of money to pay for help. But then, you’ll be flowing red and you’ll feel even more stress to reach break-even.
Of course, once your business is a BIGG success, you may be able to back down on the time you spend on it. But that will take years, if not decades.
Get paid what you’re worth
Finally, you will be compensated for your effort. Your true value will be valued. You can set your own pay.
The truth is not quite so pretty. You may not be able to afford to pay yourself as much as you make now.
Of course, in time, you better make more money. But you have to plant in order to harvest.
You will invest both time and money. You deserve to be compensated fairly for both.
But it won’t likely happen right away. Chances are, you will subsidize your business for a period of time. (Unless, of course, you raise more money. In that case, see the discussion above about financiers and the golden rule.)
If you no longer want to be an entrepreneur, great! We’ve accomplished something here today. You’ll be spared the financial and emotional costs of starting your own business.
If after reading all this, you still have that feeling in your gut – you just have to do it; you cannot accept not trying; you have to start your own business.
Great! We’ve accomplished something here today. You’re ready to start your own business with your eyes wide open. It leads to BIGG success!
If you aren’t sure how to get started, shoot us an e-mail at firstname.lastname@example.org or leave a voice message at 877.988.BIGG(2444). Tell us what you’re thinking about. Maybe we can help.
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