When you’re starting out in the world of entrepreneurship it can seem like the world is your oyster. Everywhere you look there seem to be opportunities. There’s scope for funding, coaching and mentoring and more free advice online than you know what to do with. You set about creating your own small business with gusto, securing the funding and building the infrastructure of your small business by sinking your money into capital investments. The next thing you know your business is up and running, and you should feel on top of the world but something… isn’t quite right.
When entrepreneurship isn’t what you were expecting…
Nobody expects entrepreneurship to be an easy ride, but all the small business blogs talk about how liberating it is and the sense of purpose that people enjoy when they dedicate themselves to a business they’re passionate about. The trouble is that passion, however fervent, can fade and when that happens it can be hard to rekindle that flame in a way that allows your business to continue to grow and prosper. You may be seriously considering cutting your losses and selling the business while you’re still turning a profit, but you’re worried about the transition back to salaried employment. You may feel that it’s a personal defeat giving up on what you thought was your dream and going back to work for “the man”. This feeling is not uncommon, but there are many entrepreneurs who find themselves much happier when going back to salaried work…
Your money is yours again
You may be pleasantly surprised when you carry out a business valuation and realize just how much of your own net worth you can get back upon selling your business. When you get this money back you can no longer feel guilty about spending it in yourself and your family rather than reinvesting it back into the business.
You no longer live by your productivity
Entrepreneurs and freelancers face a constant battle to squeeze every drop of productivity out of a day and often chronically beat themselves up about it when a day is not as productive as it could be. Going back to salaried work, your livelihood is no longer quite so dependent on your productivity.
You have leadership once again
It’s often billed as a dream come true to no longer have a boss to answer to, but there’s a valid place for leadership in business, and even extremely resourceful people struggle to flourish without it. For all the coaching and support out there, entrepreneurs are still trying to make it as best they can on their own, rather than under the direct tutelage of someone who’s been in their shoes and in whose shoes they can one day walk.
You can sleep easier at night
When your livelihood is inextricably tied to the fate of your business, it can be difficult to find peace of mind during a particularly difficult month. While employees always face the risk of redundancy or the companies they work for going out of business the risk is greatly reduced and redundant employees are usually compensated.