The reality of starting a business…
I’ve said it before and I’ll say it again – starting a business is hard. When people think of becoming a business owner, they tend to just consider the fact that they’ll make money, and be their own boss. To most people, this sounds a dream. And whilst this is true to an extent, there’s so much hard work, so many relentless hours, along with a ton of planning and strategizing that has to go into it. Many may not consider the less enjoyable, yet essential aspects of starting a business.
If you do it right, it’s very rewarding. However, if you’re going full speed ahead with no legitimate plan or thought process on the entirety of owning a business, it’s likely your business may not survive.
I’ve been in the business industry for over 12 years now. As a multi-business owner, I’ve been through the start up process three times. You may be wondering, if it’s so hard, why keep doing it? But the reason I can is because I’ve done it so many times. I’ve been through these experiences, learnt from them – and now I know exactly the things to consider and focus on, and pitfalls that I can avoid. That’s why I started my mentoring business; because I want to help others with a similar dream create a long-term sustainable business that ensures they can live their dream life.
Do you know what your goals are? Have you got aspirations? Have you set time frames for these goals? Mapping out your goals for the next few years is incredibly important. It gives us a sense of direction and something to work towards. Take a look here for more advice on effectively setting goals, and how to take actionable steps to achieve them.
So, in reality, business is a tricky game – but can be incredibly rewarding. Let’s take a look at some of the benefits of starting a business, as well as the things that may be, let’s say, less enjoyable!
The advantages and disadvantages of starting a business…
You’re your own boss
This is one of the main things that people consider when starting a business. Being your own boss sounds like an absolute dream – and it is! Some people aren’t made to be employees, better yet; they ARE made to BE the boss. It’s definitely rewarding to have ultimate control over what happens within your business – you make the decisions.
It can be very rewarding
Success is subjective. It’s different for everyone based on what their goals may be. But at the end of the day, whatever you may be striving to achieve, being a business owner can be incredibly rewarding. I’m not just talking financially, but also personally. Whatever you consider to be reward, with hard work, perseverance, and the right support around you – you can achieve it.
You choose your hours
Being a business owner gives you the power to choose your own hours. Sure, when you’re first starting a business you may not have so much of this freedom. But as your business grows, and you start to see substantial progress, you can start scaling your business and expanding your team. Through this you gain more freedom to pick your own hours and decide when you want to work IN your business.
This is one of my favorites. The creative freedom that comes along with owning a business is great. Like I said earlier, you’re your own boss – so you get to have the final say on all decisions. This includes the creative side too! You get to choose designs, themes, the type of content that your business produces, and so much more. It’s great to have so much freedom to do exactly what you want, and bring your vision to life.
Along with the business-related benefits I’ve listed above. I’ve found that having my own businesses has done wonders for my personal growth and development. Whilst learning so much about business, you learn so much about yourself. About the things that bring you happiness, and what you aspire to be. It’s incredibly motivating to see so much personal development throughout the business journey.
Of course, I’ve already mentioned within the advantages that you get to pick your own hours. Yes, this is true – further along your business journey. However, when you’re first starting a business, the hours can be extremely tiring. Especially if you haven’t managed to expand your team, and you’re trying to take everything on yourself (which you shouldn’t do – even one more person to assist you through your journey will make a huge difference).
No guarantee of consistent income
So many people think money, money, money, when starting a business. It’s true, you will make money. But if your business isn’t sustainable, and long-term, there’s no guarantee of consistent income. In fact, this is true for any business, sustainable or not. You may even find to begin with you’re making less money than you were as an employee. Previous to being a business owner you probably had contracted hours at a fixed wage/salary. But the income you bring from your business is simply riding on how many sales or clients you bring in that month, which can massively vary.
You have to find new ways to keep yourself motivated
For some people, self-motivation is not a problem. But for others it can be very tricky to keep their head high and stay motivated, especially if your business has taken a hit, or is in recession. As your own boss, there’s no one there to tell you what to do or make sure you get things done. If you’re struggling with this yourself, my Mastermind may be good for you – we hold each other accountable at all times to make sure we’re continuously making progress and striving for the best.
The risk can be huge
The risk you take on when starting a business is huge. No one can be 100% sure that their business is going to survive, or even get off the ground in the first place. You risk it all. You risk your time and your money. Whilst this can be quite daunting, taking risks is part of being a business owner. Prove to yourself you’re not afraid to make the jump, and throw yourself into an opportunity – then you’re a real business owner.
You may have less time for yourself
When starting a business, you have to be willing to make some sacrifices – for the most part, this is your time. No one wants to be trading time for money, however at stages you may have to give up a lot of your time to see results in your business. This may reduce the amount of time you have for yourself. And yes, those hours NEED to be put into your business, you need to take action to see growth – but I still recommend blocking time out to practice self-care, and get some well deserved rest.
I’m a realist…
Many people may just shine the light on the positives of starting a business. And whilst there are so many benefits, I’m a realist. I’m not going to tell you that it’s all fun and games, or that you can think of a business idea, and be an international success by the time you wake up the next morning – that’s not how it works.
I want to highlight the real side of business – and it may seem intimidating, but that’s why I’m here. To help and support YOU on your business journey. I want to see you achieve your goals, and live the life you deserve.
I offer a lot of different services that may be helpful to you, but first, why not take a look at my online course? My step by step guide covers all the basic fundamentals of starting a business, that need to be considered and planned out, but that many often overlook.
My course includes aspects of starting a business that you have to identify, before you even start planning your business. It’s extremely beneficial and will help you ensure that your business idea is long-term and sustainable – increasing the chances of bringing home consistent income, and achieving success based on what that looks like for you.
My guide includes…
- Working out your why
- Identifying your strengths and weaknesses
- Planning your business idea
- Market research and client avatar
- Childcare advice
… and SO MUCH MORE!
The course offers flexibility to learn and progress at your own pace, in your own time. You can choose to either buy the whole course at once, or pay monthly and have the content slowly given to you – it’s all down to personal preference. Check it out, and make sure to let me know what you think on social media.
Feel the course isn’t right for you? Take a look at the other services I offer as a business mentor, and see how I can help you start your business journey – or continue to progress. You can also have a read through my other blog posts for free tips and advice. I hope to hear from you soon.