Eyes Wide Open
When you go to work you are working a dream. It might be someone else's dream, or it might be yours, but it's still something someone dreamed of doing, and then made that dream come true.Whether you are dreaming of owning your own business, or are actually living that dream as a business owner right now, there is one thing that is the same: you don't want your dream to become a nightmare, which is also the reason I am writing this article. I want you to have the maximum opportunity to succeed.
Why Dream?
Have you ever asked yourself why you want to be a business owner? If not, do it now - even if you already own a business. I'll wait. Hmm, hmm, hmm, hmm...
Back? Great. I think you will gain new insight into what motivates you by conducting this exercise. Were you having trouble getting started?
There are as many reasons why someone would want to be a business owner as there are dreamers and owners. But I believe there are five reasons that are common to all of us, and I have listed them below. Take a look and see if you recognize yourself. But be careful! As Mr. Miagi said in broken English to his protégé in the movie, Karate Kid, "Daniel-san, every'ting not always as seem".
Reason 1: To gain financial independence, if not wealth.
Good for you! I have absolutely no problem with this reason. The pursuit of financial independence is an excellent motivator, and business ownership is an excellent and high percentage way to achieve it.
"Every'ting not always as seem"
Do you know how much the average small business owner makes a year in salary? About $40,000. Sure, you may hit that homerun, but there is a reasonable chance that you will just make a living. And if you are in it for the right reasons, because it's your dream to own your own small business, that will be OK.
Reason 2: To have more control of your life.
I like this one very much, and it's an absolute possibility. You will be able to focus your energy and spirit in the direction YOU want to go, rather than hitching your wagon to someone else's star. Plus, you should be able to get away to attend your children's school event. That was a big deal to me.
"Every'ting not always as seem"
• You won't have to punch a clock. BUT... you will have to work harder than you ever did when you were an employee.
• You won't have to deal with an over-bearing boss. BUT... you will have customers, prospects, and employees (believe it or not) who can be more demanding than your boss ever was.
• You can take a day off whenever you want.......Yeah, right!
President Harry Truman had that now-famous sign on his desk, "The buck stops here!" No one knows that responsibility more than a small business owner. You are responsible for everything your business does or fails to do, and that puts an enormous demand on your time.
Reason 3: Sheer ambition.
Ambition is a good thing. It provides the high octane fuel your entrepreneurial engine needs. Being goal oriented is an excellent personal business model. Positive ambition is a healthy and productive characteristic. Make sure the goals you have as a civilian (employee) are convertible to business ownership. For example, you may desire to be president of your own company because the president of the company you work for has a really cool job. Fine.
"Every'ting not always as seem"
Now you ARE the president. That's the first thing you can be in your own company. Congratulations! But remember, there are other positions that you just got promoted to, like, janitor, receptionist, courier, secretary, accountant...you get the picture.
Reason 4: Status.
It's true, owning your own business provides a certain je ne sais quoi (that's my Frazier/Niles impersonation for the day), a feeling that you have arrived. You're at the top of the heap. It may be a small heap, but it's your heap. Owning your own business definitely has the potential to deliver status.
"Every'ting not always as seem"
Status is very mercurial. (Brace yourself for a barrage of clichés, but they make the point.) In the early days especially, status will be as elusive as respect among lieutenants or honor among thieves. And when you finally gain some status, before you let it go to your head, remember this: The status gods giveth and the status gods taketh away. The marketplace WILL rain on your parade when you least expect it. Today's boy or girl wonder is tomorrow's Big Box target. Newton's law of gravity is alive and well in the marketplace.
Next time you start feeling a little full of yourself, remember one of these.
Reason 5: Ego.
In the entrepreneurial chemical brew, one of the primary active ingredients is ego. It's like ambition, but ego is more about you than your goals. In its positive form, ego manifests in pride and determination, two things you definitely need to be a successful business owner. We enjoy many things today that the development of which were driven by ego.
"Every'ting not always as seem"
As a small business owner, you will have to snatch your ego food where you can find it. On the same day that your new brochure comes out with your name and picture plastered across the cover, your best customer will change vendors. Ninety days after you landed that big contract, which is sixty days after you billed that customer, and 30 days after you paid your vendors for the material you delivered to fulfill that contract, your banker will call to ask how you are going to cover your overdraft. Cashflow issues are to a small business owner's ego what a bucket of water is to a candle flame. And there are many other predators of your ego. Ego? What ego?
Don't quit your job until you know why you are motivated to own your own business. And if you are already living your small business dream, might not be a bad idea to see if your motivations have changed. Use my list, plus make your own. But be honest with yourself.
Then do my little "Every'ting not always as seem" drill. You will need some help with this from people who has been business owners for a while. When your friends help you with the drill, listen closely and believe them. They are probably telling you something for free that came from a lesson they may still be making payments on.
Write this on a rock... Remember, the worst day working for yourself is better than the best day working for someone else. If you go into small business ownership with your eyes wide open, your dream won't become a nightmare. And whatever you do, remember that "every'ting not always as seem."
