It's All About Business™

For many people, starting a business is the fulfillment of their dreams. But sometimes starting a business can be the realization of their nightmares. I’m writing this post to help you fulfill your dreams — and avoid the nightmares.

I recently read an article by Marshall Goldsmith about Why Coaching Clients Give Up. He said clients give up because

It’s harder than they thought it would be,
It takes too long,
Ownership,
Distraction,
Rewards, and
Maintenance.

I agree with Dr. Goldsmith’s list. And I believe the same issues he lists for coaching also apply to starting a business. So I will use his list to explain.

Running my business is harder than I thought it would be.
You are correct. Running a business is hard work. You may have thought it would be easy. If it was easy, everyone would do it; and be successful at it.

Ask yourself if you are willing to work hard enough to own your own business.

It’s taking longer than I planned.
Studies have shown it usually takes 9 years to become an “overnight success.”

Ask yourself if you are willing to put in the time it takes to own your own business.

I started my own business and failed but it wasn’t my fault.
Too many business owners refuse to take ownership — responsibility for everything that happens in their business. I touched on this in a previous post. Everything we do as business owners (good and bad) is our “fault.”

Ask yourself if you are willing to take ownership of everything that happens in your business.

I’m busy right now. I’ll get to that problem tomorrow.
When you own a business, distractions happen every day. Problems arise, every day. Being the owner means it’s up to you to deal with the distractions.

Right now there are programs on television showing various businesses and the problems they face every day. In a recent episode the owner got upset when his employees stood around because a machine broke down. The question he needed to answer is “Who is responsible for seeing that your machines are in working order?” The answer is, “You — the owner.”

Ask yourself if you are willing and able to deal with every distraction and problem in your business without delay.

I started my business to make money and be able to enjoy it.
The rewards of owning your own business are often intangible. And often take years to be realized.

Like Dr. Goldsmith, I often hear clients say “Why am I working so hard? I didn’t make any more money anyway, so why am I killing myself?”

Ask yourself if you are willing and able to put off gratification until your business rewards you (if ever).

My business is going great! Now I can coast and enjoy the ride.
Wrong. Owning your own business is a process you must maintain. Your business is either growing or dying. It can’t stand still; and neither can its owner — you.

Ask yourself if you are willing to maintain the growth of your business.

_______________________________________________________

If you want to start your own business, go into it with your eyes open. It will be hard work and take a lot of time. It will be your responsibility to take care of everything that happens in your business — good and bad. You may not see immediate rewards, and even when good things happen it will be up to you to maintain the activities that created those good things.

Starting your business is the fulfillment of your dreams. Every day will bring new challenges — and opportunities. Read and study the posts in this blog. Read and study and get the help you need. Ask questions and keep asking questions. Then starting your business won’t be the realization of a nightmare.

Thanks,
Larry

Your comments are always welcome. Please let me know.