What No One Tells You About Being Your Own Boss

Thinking about diving into the world of small-business ownership? You’ll be off to a good start if you first consider some of the tough lessons many business owners learn early on.

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There are plenty of perks to running your own business — the autonomy, the control, the ability to spend your days in a field you’re passionate about. But there are also some very real hardships. When you’re an entrepreneur, everything is ultimately on your shoulders. You can delegate and you can team build, but at the end of the day, the failure or success of the company comes down to you. That can be daunting.

Take some encouragement in the fact that you’re not alone. All business owners feel overwhelmed sometimes, and all business owners learn some tough lessons they wish someone had told them before.

Here are a few examples — tough but important realities that every business owner (or aspiring business owner) should know.

Your business is not a unique and special snowflake. It’s important to home in on a value proposition for your business — something that sets you apart from your competition, whether it’s speed, customer service, subject matter expertise, or affordability. Ultimately, you’re not the only drain cleaner in town, though. You’re always going to be in competition with companies fairly similar to your own, and it’s important to recognize that.

Not everyone is going to love your business. And actually, that’s OK. You don’t want to find yourself in the position where you’re trying to sell to everyone because that basically means you’re selling to nobody. Find “your people” — the audience that does like and need what you do.

You’re going to make mistakes. We all do. And in some cases, those mistakes may even be expensive. Don’t beat yourself up about them, but also be sure to learn from them. Always ask: How can we avoid this problem the next time around?

In a new business, you need to say "yes." Anytime you have the opportunity to take on a project or serve a customer, you should do so — especially at first. You can get more selective later on, but new ventures just don’t have the luxury of turning down opportunities, even unpleasant ones.

Your most valuable asset is the goodwill of your customers. The thing that’s ultimately going to keep your business afloat — and bring in new referrals — is the integrity with which you serve your clients. Earn their trust and keep it. Nothing matters more to your ongoing success.

You can’t do everything yourself. Yes, you’re ultimately the one who’s responsible, but that doesn’t mean you can physically handle every single task on your own. It’s absolutely vital to hire people who you can trust to do a good job and then to delegate to them. 

Outsourcing can be a lifesaver. Again, this is especially true for newer businesses, where hiring full-time employees can be expensive but outsourcing for one-time projects can be comparatively affordable.

Cash rules everything. Finally, every business needs to have cash on hand. Without it, you can’t make payroll, which means you don’t have a team. The uncollected money from a job you just finished doesn’t matter. What matters is actual money in the bank.

These are only some of the things business owners learn as they go. By recognizing them early on, you have a head start in your small-business success. 

About the Author

Amanda E. Clark is the president and editor-in-chief of Grammar Chic, a full-service professional writing company. She is a published ghostwriter and editor, and she's currently under contract with literary agencies in Malibu, California and Dublin. Since founding Grammar Chic in 2008, Clark, along with her team of skilled professional writers, has offered expertise to clients in the creative, business and academic fields. The company accepts a wide range of projects; often engages in content and social media marketing; and drafts resumes, press releases, web content, marketing materials and ghostwritten creative pieces. Contact Clark at www.grammarchic.net.



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