Small Business Big Problems
Small businesses face as many challenges as large businesses, however, their resources are much more limited. It is not a secret that most small business owners have to wear many hats and make do with what they have, at a cost as high as their life.
I know this sounds dramatic, but part of the reason most people start a business is to be free and be better off than being an employee. That initial goal often drifts from the top and falls slowly to the bottom, superseded by immediate and often short sighted goals that may or may not be beneficial to the business or to the owners in the long run.
Getting overworked, losing sleep, not exercising, missing your girl’s ballet recital, your son’s baseball practice, date night with your spouse or simply not being happy are not good things. That is literally some of the things that make life worth it, but often I see folks doing them, all in the name of sacrificing for their business, which often is also suffering.
So how do you get back to the goal of becoming a free, healthy, and hopefully wealthy business owner? The short answer is to review your business plan and stop doing what doesn’t match it. Adjust it to the way your business is doing things, or better, re-do it using technology to make it more efficient.
Makes sense right? However, book definitions rarely work or look the same in real life. In reality, when businesses have gone astray from their purpose, tough decisions have to be made and swift actions have to be taken. We are talking about operation changes, employee layoffs, or even entire sections of the business slashed-out or re-started from scratch, including key employees.
Now, that sounds great if you had 100 employees, but if it is only you and your family? Can you really afford to cut them out? Can you afford the drama of doing that? Can you afford to fire yourself?
That is the dead end that most owners get stuck in. Sadly there is no answer that fits for everyone. We cannot really say one way or the other without knowing all the details that matter. Hence it is why we need to have a conversation that covers all the important points and seeks the right solution for you and your small business.
If you think your business is at a point where you don’t feel the benefits of being a business owner or not materializing all your goals, as in thinking “I don’t have enough time to disconnect” or “I was making more as an employee” give us a call.
We will analyze your whole business and see what improvements can be made to help you achieve your business and personal goals. We specialize in small businesses and know we have to make do with what we have.