Veins of Steel

For 22 years, I have owned my own business. It's been easy. It's been hard. It's been a blessing; there's been some bumps. So it goes with being at the helm of your own gig.

When you are a sole proprietor, as I have elected to be, you're it. You are the CEO, the rainmaker, gatekeeper, negotiator, public relations master, sales closer, business manager, administrator, technical guru, trash dumper, branding baron, bookkeeper, customer relations king, chief complaint controller, operations officer, entrepreneur extraordinaire, compliance director, accounting auditor, collection agent, health insurance financier, creative genius, environmental expert, advertising and marketing mogul, savvy spokesperson -- yup, you're in charge. You get to do it all! If you want help, you find it; you pay for it. Sometimes the help works out; sometimes you don't get what you paid for. And yes, on occasion - not often, thankfully - you don't even get paid by your customer! Reminds me of a tee-shirt I saw the other day -- And I Got Up For This?

Seriously, I've heard some troubling, heartbreaking stories lately -- from the man who'd invested all of his "retirement money" into a business that didn't make it, closed his doors, "nothing to show for it." And from the woman who thought it would be "fun" and "exciting" to own her own business, only to discover it was "tougher than she had imagined" and went out and found a "real job" -- her words. And from the small business owner whose company is now on the verge of collapse, his inheritance "down the tube." And the dueling business partners declaring bankruptcy because of "chemistry conflicts." Story after story.

There is much conversation about how glorious and gratifying it is to own your own business, to be your own boss, to have the American Dream. I agree! You bet! I love it -- a huge raving fan of it, and I would encourage you, if that's what is in your heart, to go for it.

There is a somber reality, however, often overlooked, or underestimated, or in some cases, discounted, and not discussed at all, until it's too late. Being in business for yourself is fiercely, intensely competitive. It's hard. It's difficult. It's challenging. It's crazy. Even lonely, if you don't stay connected. Maybe you'll hatch an idea and voila, you'll be an overnight success and become a millionaire. I hope so! According to statistics, though, that may not happen.

If you are thinking about starting a small business, buying a business, whatever your dream, consider doing so with "eyes wide open." Take a sip of Reality. Be smart. Heads up, especially in today's business climate. Do your due diligence. Rally resources to help you succeed.

For starters, contact your local Small Business Development Center; you can find the one nearest you on this national list. Further, check out The United States Small Business Administration, another valuable resource. Tap into the Service Corps of Retired Executives (SCORE), counselors to America's Small Business.

If you do not have an accountant, banker, or legal counsel, consider engaging such services. If you are a writer, or an inventor, find a good attorney in patent law, IT law, trademark law, copyright law, and/or intellectual property law.

As one of my mentors taught me about running your own show: 1. you need to have veins of steel and 2. remember that it's much easier to get into something than it is to get out of it.

posted by: billiesucher

Comments

[Deb]

Billie, as always, you've hit the mark! Look before you leap, and know that just as in the corporate world there are real challenges -- and no one to pay sick leave, vacation, or even give you a lunch break.

I've been a solopreneur for almost 20 years and it's been the most gratifying, stressful, HARD 24/7 work I've ever done (and I was in retail management before this gig -- and THAT was tough!). Burn out, frustration, exhaustion, and operations / finance issues all come with the package when you run your own show.

BUT so do immense satisfaction, personal and intellectual growth, courage, creative license, wonderful colleague and customer relationships, hard-won and cherished independence, and moments of sheer ecstasy when I hear a client landed that dream job. I can't imagine having a boss again, no matter how hard I have to work.

Deb Dib, the CEO Coach
"Unabashedly passionate about helping visionary, gutsy, fun leaders with a conscience build great careers, mold great companies, and even change the world a bit!"

[billiesucher]

"and moments of sheer ecstasy when I hear a client landed the dream job."

Exactly -- perfect words to describe what really matters and keeps me going in this business! Thanks Deb! Counting the days till Thursday, too! : - )
billiesucher