Now that I've burst your excited entrepreneur bubble and given you a day to mull over the disadvantages to starting a business, I have some happier things to talk about! There are sooo many very successful business owners out there. Social media and modern technology help connect us to them so that we can see and hear about how they do it. How do they muster through the tough parts and come out on top? Many have quit their big corporate jobs to thrive in their own business. Some days I have to remind myself why I've chosen this path (*cough* yesterday *cough*) so that I can get past those feelings of discouragement or defeat.
Before we get into this, if you missed part 1, you can read that here.
I've found that some of the disadvantages of self employment are also the advantages!
1. It’s Inconsistent.
Because you have busy and slow seasons, you may be able to get some vacation time when others may not have it! Most people just get their summer vacation, but for the last several years I have taken a January or February trip also. One year it was a cruise, one year it was to San Diego. This year it was to Myrtle beach for business planning. Prices are lower, and most people aren't able to get away during that time.
You can schedule your own time. You're not stuck in an office from 8:00-5:00. You have a chance to run some errands during the day, or schedule lunch or coffee with a friend mid afternoon. You also decide when your day off will be. For example, my "off" day is Friday. I will usually catch up on emails or finish anything that needs to be done before the weekend, but I never work a full day on Friday. It's pretty typical for me to work most Saturdays and even some Sunday afternoons, so I don't feel bad at all about taking that Friday off!
Also with that lack of consistency, you can bet that you'll never be bored. I don't think I have ever sat at my desk just waiting for time to pass. There is always something to do or always something that comes up keep you busy.
2. It’s expensive.
Being your own boss forces you to keep your finances in check and that's an advantage. You aren't spending someone else's money anymore, it's your own! This teaches me to shop around a little bit more, figure out what I really need and really use, and buy based on that.
Over time, you end up saving a lot of money with that mindset.
3. It doesn’t have to be lonely.
It really takes being intentional, but you running your own business doesn't have to be lonely. Some days I'll be grinding at work and have something planned and almost decide to skip because I could just get so much more done if I did, but socializing is so important (for me at least). It keeps discouragement down, gives you a new perspective, and helps you learn from others. When you schedule times in for lunch with friends, or get togethers with other business owners, it keeps the lonely blues away.
Finding a co-working space to go and meet with others in the industry or similar industries can be super beneficial. It's never a bad thing to find another place to work!
4. Success will happen.
There is nothing like having a happy client. When you put in that hard work, and treat someone as a priority, they feel that, and that is what I consider success in my business. When they talk about you and your work with others, that is the topping on the cake!
I feel like I should also mention the feeling of happiness when you go to the bank to cash those checks that you worked your tail off for! After a time the number in your bank account builds up, and you remember...on the days when you feel like you work for free, it does eventually pay off. Sometimes if can pay far more than you can make at another job in the workplace.
(Photo Credit: Asterisk Photography)
I love owning a business. I haven't really known much else. For years I worked a second job so that I wouldn't have to feel the stress of it as much, but last summer I quit that and went full time! In the final post of this series, I'll share some of the things I did to set myself up for quitting my job and going full time!