Be honest with yourself: why are you in business? What drove you to run your own business… and most importantly, is business ownership the right path for you?
It’s only natural that you’ll experience the occasional low in your business. Whether it’s a financial crisis or simply a feeling of tiredness, the occasional dip is part and parcel of a business owner’s life.
One of the most common complaints I hear from business owners big and small is a constant sense of dissatisfaction or unhappiness with their businesses.
Whether it’s a financial crisis or simply a feeling of tiredness, you just don’t feel at home at your business, and nothing you do is changing that.
For many business owners, this can be a sign of mismatch between what you want from your life and your business’ place in everything. Do you find yourself nodding in agreement with any of these common reasons for going it alone? If so, it might be time to reconsider your position.
Fortunately, there’s good news: a chat with a small business coach might be just what you need to turn things around!
#1: You’re motivated solely by cold, hard cash
Money can’t buy you happiness. While there’s disagreement as to whether this is actually true, one thing money can buy you is TIME.
One of the biggest mistakes I see business owners make is focusing entirely on the MONEY. Yes, money is important… but should it be the driving force, the sole motivator?
When you break it down, money is just paper – it’s meaningless by itself. Money’s power comes from what it can get you – it’s up to you to decide what money can do for you. Whether it’s a world-spanning holiday, an early retirement or dream house, money makes all of that possible.
In my experience, money is a means to an end, nothing more. Your business shouldn’t be solely about money – it should be about enabling your dreams and goals.
For that, you’ll need TIME. And you can’t get more time for yourself without MONEY – how else will you implement new systems or hire additional staff to ease your workload?
The best business owners are the ones that recognise this. If you think of money as a tool for your actual life goals, you’re already well-ahead of a lot of your fellow business owners.
A business owner coach can help you create coherent, achievable plans for achieving your ideal life, especially if your current goals are money for money’s sake.
#2: You want to work fewer hours
Everybody wants to work fewer hours. One of the fantasies many prospective business owners hold onto is that they’ll be working less hours by opening their own business.
And assuming everything goes well, you will be! TIME is the ultimate sign of a successful business owner, which is why I focus so much on getting you more time as a business owner coach.
Notice how I specified successful business owners.
That’s because while getting more time for yourself is the dream of most business owners, in practice it can take a LOT of work to reach that point, especially towards the beginning.
And worse, as your business grows and thrives, many business owners get into the habit of always being on call and never mentally clocking out.
Some business owners suffer from something approaching Stockholm Syndrome – in fact, working in the trenches alongside their staff is worn almost as a badge of honour by many small business owners.
The reality of business ownership is that oftentimes, it gets worse before it gets better.
Quite frankly, anyone starting a business with the expectation that they’ll be working fewer hours immediately might be in need of a reality check – or a small business coach such as myself!
#3 You thought the grass would be greener
We can all relate to this one: you’re sick of your current job and you’re looking for something that’s “better”.
It’s an admirable goal. In my opinion, you should always be striving for better in all aspects of your life.
However, the decision to start your own business is one that requires more thought than just “my job is terrible, so starting my own business must be better”.
My mantra as a business owner coach is that your business should help you live your dream lifestyle – that should be the reason to start your own business.
You have certain goals or a specific lifestyle, and working a 9-to-5 doesn’t give you the freedom to chase that life. That’s when owning your own business is the right course of action to take.
Leaving a job you hate is the right decision. On the other hand, immediately leaping into business ownership just because you’re fed-up with your current position is incredibly short-sighted.
Before starting your own business, always consider your life goals and where your new business fits into the equation – if at all!
#4: You’re only here because you “have to be”
Maybe you started your business because you needed the money desperately. Perhaps it’s a family business you were obligated to look after. It could even be a business opportunity you “had to” take, lest it disappear forever.
Whatever the actual reason, the only reason you’re still running your business is because you feel obliged to.
In my opinion, you should never feel forced to turn up to work. If you’re only at your business because you have to be, it’s not business ownership any more – it’s a job, only with a different name!
Ideally, you should own a business because it helps you fulfil your dreams and reach where you want to take your life – long story short, your business should serve YOU.
Needless to say, staying at your business out of obligation and not because it fits with your life goals is the complete antithesis of that!
#5: You have no clue what you’re doing
Running a business can be tough – especially if you’ve never done it before!
The underlying problem with a lot of business owners is that they simply don’t know what they’re doing.
I’ve seen it countless times: whether they’re not familiar with the intricacies of running a business or (in the worst-case scenario) they just don’t know all that much about what they’re selling.
In many cases, the sense of lethargy and tedium many business owners experience is the result of simply being out of your depth.
Whether you own a small business or a large one, your systems and processes benefit from constant improvement – sometimes however, you need an outsider’s perspective. Why not talk to a business coach?
Need help getting your business back on track? Call The Bruce!
Cutting your losses and running is the nuclear option – what else can you do before then to turn your business around?
My answer? “Get help!”
In many cases, a small business coach can help you turn your business around and get it working for you.
By helping you refine your processes, refocus on what you want out of your life and create actionable plans to turn your business around, I help business owners pull themselves out of the pits they’ve (unintentionally or otherwise) dug themselves into.
And I’m pleased to say, I’ve helped countless business owners get more out of their business at the same time!