Entrepreneurship is hard on many levels, but there are rewards!
Here are five reasons to love being a small-business owner:
1 It’s yours – you built it!
No matter how small or ‘unexciting’ your business may be, if it’s paying the bills, then it’s a successful business. Even if it’s a start-up, or not yet profitable, it still has the potential for you to make money. What’s important is that you had the courage and grit to do what so many others simply dream about. Every day presents a new opportunity to refocus and refine what you do.
2 You make the rules.
Yes, customers are demanding, but you are not answerable to any boss other than yourself. If you find a way to improve something or you wish to test a new product, you can go right ahead without trying to get the ‘buy-in from management’. Similarly, your time is your own and within the bounds of serving your customers, you can choose to work when it suits you – allowing you to spend time with your family or pursue a sport or even study. This is especially so the longer you have been in business, because by then you will likely have employees and processes in place, which means you do not have to be there all day, every day.
3 You can make a difference.
Small businesses can (and should) be customer-responsive by their very nature. It is easier to know your client base and to keep the proverbial finger on the pulse. Understanding what your customers want and being creative and nimble in your response to changes in the market, allows for healthier, happier relationships. There is a great satisfaction to be had in knowing that you have genuinely solved a problem and given excellent service. This is amplified when it reflects in the bottom line!
In addition, local businesses are important to communities – not only as a supplier of products and services, but as potential employers, or sponsors for community initiatives. The big boys don’t provide the school soccer team kit or plant trees in the park.
4 Change is positive.
The '20s have taught us that creativity and adaptability are crucial skills. A small business can quickly introduce new processes and products, embrace the digital revolution enthusiastically and even change business models. The remote and online ways of working and doing business are here to stay and small businesses are well-positioned to use, and profit from, technology and much of it are free or relatively inexpensive.