Exemple

The Stress For Me Would Be NOT Owning My Business

I was sitting having lunch yesterday around a bunch of executives. This group of high ranking employees and business owners were talking about several companies in their industry that had gone out of business over the last year and what caused their eventual demise. While some were based on the economy or stiff competition, there was one company that apparently had bad business management from the top due to the inability to run an efficient business by the owner. During this conversation, one of the business owners said something that really hit home with me as I was eavesdropping on their conversation…

I don’t think he could handle the stresses of owning his own business. For me, the stress would be not owning my business.

I guess they saw my ears perk up because after that line I was invited into the conversation.

The Stresses Of Business Ownership

I think a lot of people have the misconceived idea that owning your own business (online or not) is just a walk in the park as you go towards the friendly oasis of palm trees and pools of money (there’s an old school Duck Tales reference for you). Like a horse with blinders, they see all of the positive aspects with business ownership without taking into consideration what goes on behind closed doors.

What they do not see is all of the back end management that goes into running a successful business. Especially for online entrepreneurs, we are now wearing all of the hats of the business. We are inventory control, production (content or physical goods), engineering (coming up with ideas), accounting, management and owner all in one day. The juggling of all of these hats at one time can get the best of any entrepreneur with a great idea. The trick is to balance time between all tasks to run an efficient and profitable business over time. Remember, you are setting your self up for life…not just next week.

The Stresses Of The 9 To 5

On the flipside, the stresses of the 9 to 5 can be overwhelming as 99.9% of us already know. You have bosses that you are accountable to, your paycheck is determined by someone else, you often have to go along with ideas and plans that you completely disagree with, bad decisions by other workers can directly affect your livelyhood…the list goes on and on.

But…most of the general public puts up with these stresses to gain the security, repeatability and low responsibility rate that goes with being an employee. In the big scheme of things, going into work from 8-5, doing your job and then heading home is just good enough to provide for the family and live a happy life.

The Entrepreneur Mindset

For me, the stresses of not owning my business far out weigh the stresses involved with running it. When I started oneninety8 and all of my blogs, I started them with the goal of taking this show full time. The stresses of having to go along with decisions I didn’t agree with and relying on someone else’s opinion of me to drive my income were stresses that I could no longer bear. The entrepreneurs mindset is one that is willing to make the sacrifices in their life to gain the pot of gold at the end of the rainbow.

When I want a raise…I work harder on new ideas.

When I want to take a vacation…I take one.

When build up new assets…I am setting up my future.

This is the life I wanted. Living the 8-5 life is one that was stressing me out to the point that I was not sleeping, not eating well and adding all of that up to shorten my life over time. Owning my business…for me…is not about working only 2 hours a day and making millions…it is about having the ability to fully control my future and watch my ideas grow into something I can be proud of. It is about accepting the personal responsibility for my future and not relying on others to hand me what I want in life.

Every employee thinks they are underpaid and under appreciated because you are. It is the companies job to get your skills and productivity for the lowest price they can while it is your job to try to squeeze out the highest wage. This conflicting set of goals creates an environment where you have to either be promoted internally or change jobs to increase your income over time. When you own your business, that goal is under your control…and that comes with certain new responsibilities.

You can keep the grind for a paycheck every week. While that might create a less stressed, happy life for others…that just isn’t for me.

Image by Truthout.org

10 thoughts on “The Stress For Me Would Be NOT Owning My Business

  • Black Seo Guy

    Yes there is stress Robb..but nothing beat being able to control your own income and productivity..I love it.

    “Black Seo Guy “Signing Off”

  • Keith Bloemendaal

    I started my first biz at 23yrs old (16yrs ago) and have been on a mission to continue working for myself ever since! I think knowing that I control my destiny is the single biggest feature for me…

    • Robb Sutton

      Keep on rockin’ it Keith! Looking forward to your new release.

  • Linda

    I owned my own business for ten years then decided that the demands of ownership were just too much. I decided to become an “employee.” I am now back to being a “business owner”-lol. I realized that I was working just as hard to line someone else’s pocket 🙁

  • Michael Van Osch

    Hey Robb – as a coach for men I’m finding that more and more men are making the move to become entrepreneurs as they find the corporate gigs not only stressful but now totally unreliable as well. More men (and women) are realizing the need to take control of the trajectory of their lives and running your own business is one of the biggest ways to do that. Good article, thanks. Michael

  • Allan Douglas

    Great post Rob, and right on target.

    I know many people know have tried to open a business on the premise that it would be easy: the fellow who opened a restaurant because he liked the idea of strolling through he dining room chatting with the patrons about their meals, and the fellow who opened a store because he thought it would be simply ordering in great stuff and watching the cash register fill up as customers flocked in to get it, for example. In the small town I live near I’ve watched several small building change hands a dozen times in the past ten years as new “businesses” open up mostly on enthusiasm and fold a few months later when the capital is used up because the sales did take off like a race horse from the starting gate.

    Even an on-line business needs more than enthusiasm; especially enthusiasm for an early retirement to wealth and leisure.

    I’ve been full time self-employed for… oh, golly… I guess it’s been 15 years or so now. I’m not rich, but I’m happy. The thought of having to go back to working for someone else is very depressing for me. I suppose I could do it if I had to, but I wouldn’t like it much. And they may not like me very much… having been an independent for so long, I’m probably not much good at taking orders from others anymore!

  • Allan Douglas

    Great post Rob, and right on target.

    I know many people know have tried to open a business on the premise that it would be easy: the fellow who opened a restaurant because he liked the idea of strolling through he dining room chatting with the patrons about their meals, and the fellow who opened a store because he thought it would be simply ordering in great stuff and watching the cash register fill up as customers flocked in to get it, for example. In the small town I live near I’ve watched several small building change hands a dozen times in the past ten years as new “businesses” open up mostly on enthusiasm and fold a few months later when the capital is used up because the sales did take off like a race horse from the starting gate.

    Even an on-line business needs more than enthusiasm; especially enthusiasm for an early retirement to wealth and leisure.

    I’ve been full time self-employed for… oh, golly… I guess it’s been 15 years or so now. I’m not rich, but I’m happy. The thought of having to go back to working for someone else is very depressing for me. I suppose I could do it if I had to, but I wouldn’t like it much. And they may not like me very much… having been an independent for so long, I’m probably not much good at taking orders from others anymore!

  • Paul Burton

    Having watched many dozens of colleagues over the years try and fail to build their own business, it does take a special mindset to succeed on your own.

    I can relate 100% to the comment above … The thought of not owning my business is the only nightmare that shakes me.

  • Entrepinoybank

    I thin, owning and running a business will give more satisfaction especially when it is successful than being and employee for the rest of our life.

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