As we mark National Small Business Week, I’m reminded of my roots as the descendant of entrepreneurs who were hardwired to embark on the journey of owning a business. I salute all those brave souls who eventually learn the enormous impact that it has on their lifestyle and how to best adapt.
Being a small business owner requires tremendous sweat equity in terms of building a client list and sales funnel, as well as understanding your product or service and how it responds to the marketplace. It starts with a novel idea that later involves securing several rounds of investment, a focus on rapid growth, a possible initial public offering, mergers or acquisition and an exit strategy.
Sometimes the business can take over your entire life when it’s still largely a solitary endeavor. It took me nearly a dozen years to come out on the other end with a staffing agency that consumed me to a point where my health and relationships began to suffer. This is the collateral damage of being a small business owner. When immersed in the daily grind of your own business operation, there will be sacrifices made along the way that result in illness or burnout.
That’s why it’s so vital to sustain your mental and physical wellbeing to best position your business for success. Growth will be tied to the equilibrium that owners bring to their lives. But it’s also about developing a vision beyond your own lens – a synergy or collaboration with employees, partners and customers that are supporting what everyone wants to achieve.
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