Running business should be more than just a job

Running business should be more than just a job


KAREN BLOTNICKY | August 25, 2007 4:41 AM

WHEN RUNNING a business becomes too
taxing and frustrating, it can seem more like work than pleasure. This
kind of burnout is what leads many new

entrepreneurs to throw in the towel early, often before the business really has a chance to grow.

Entrepreneurs plan for years before taking the plunge to start their own business.

They start out with wide-eyed anticipation and loads of adrenalin. They believe that their business is totally indestructible.

The early stage of business ownership, while stressful and
challenging, is also very euphoric. Initially, one cannot understand
why they didn’t become self-employed sooner. It is the honeymoon
period, when even large gaffes can be laughed off as growing pains and
given little further thought.

entrepreneurs to throw in the towel early, often before the business really has a chance to grow.

Entrepreneurs plan for years before taking the plunge to start their own business.

They start out with wide-eyed anticipation and loads of adrenalin. They believe that their business is totally indestructible.

The early stage of business ownership, while stressful and
challenging, is also very euphoric. Initially, one cannot understand
why they didn’t become self-employed sooner. It is the honeymoon
period, when even large gaffes can be laughed off as growing pains and
given little further thought.

The problem with the honeymoon stage is that it doesn’t last
forever. And unfortunately, the honeymoon feeling doesn’t always gently
fade away; it can evaporate suddenly, leading to increased frustration.
When the honeymoon ends, entrepreneurs usually become tired and
disillusioned.

Running the business becomes less enjoyable, feeling more like a job
than a career, or a labour of love. Reality sets in, and many
entrepreneurs realize they haven’t met their sales goals as quickly as
they had hoped. The sheer logistics of running a business begin to take
their toll on one’s stamina and on their personal relationships.

When starting a business, most entrepreneurs tend to overtax
themselves by taking on too much. There is a fine line between doing
what you can handle to save money, and trying to do too much to avoid
spending as much as possible: doing the latter will lead to greater
frustration, fuelled by exhaustion.

There are things that entrepreneurs can do to make the honeymoon
last longer. There are also things they can do to avoid suffering after
the business honeymoon ends.

The first thing to do is to realize that as a potential entrepreneur, one views the world through rose-coloured glasses.

It is hard to be truly objective about a business idea and how it
should be implemented. For this reason, no one should single-handedly
create a business plan.

It is very important to get a second opinion. Make use of available
resources and seek the opinions of trusted friends and associates.

Others will not be blinded by the anticipation of owning a business
and they will be more likely to find potential problems. Such problems
will present themselves in the first few years of running a business
when the honeymoon period is over, and such problems can result in
closure of the business.

When starting a business, it is important to carefully balance the
advantages and disadvantages of taking on too much responsibility in
order to cut back starting costs. Often, the decision to take on too
much results in false economies, taking the entrepreneur away from
doing what he/she is best qualified to do, and resulting in a lack of
care and attention in many critical parts of the business.

For example, it is ultimately less expensive to hire a bookkeeper than it is to stay up all night catching up on the books.

To be successful, a business really needs to rely on more than one or two people.

The successful entrepreneur knows their strengths and weaknesses and surrounds themselves by experts, as they are needed.

There
are many types of business support services available on an hourly
basis, everything from legal and tax experts to janitorial and
maintenance firms.

Using these services will accomplish tasks much more
cost-effectively than avoiding the service entirely or trying to do it
all on one’s own.

And a last, but critical, detail for any entrepreneur is to be completely thrilled by what they are doing.

The more passion an owner has for the focus of his/her business, the more successful the enterprise will be.

An excellent example of passion in business is that shown by
entrepreneur extraordinaire Mickey MacDonald, who has gone back to his
boxing roots with his new initiative to open a boxing facility in
Halifax.

When passion evaporates from the day-to-day operation of a business, it becomes just another job.

And that is not what inspires the entrepreneurial spirit.

( kblotnicky@herald.ca)

Karen Blotnicky is president of TMC The Marketing Clinic and a professor at Mount Saint Vincent University.

>BackTrack

Leave a Reply

RSS Google Hot Trends

  • MoviePass, Jeffree Star, Robert E Lee, Taylor Swift, ...
    MoviePass Jeffree Star Robert E Lee Taylor Swift Marie Margolius Alabama senate race Jackie Christie Tiger Woods AGT Giancarlo Stanton Mel B David Mueller America S Got Talent 2017 Joe Arpaio Stephen Colbert Jimmy Fallon FC Cincinnati 25th Amendment Roberto Aguayo Lincoln Memorial Solar Eclipse Glasses Ric Flair Google Classroom Charlottesville attack