Business Ownership Doesn’t Have to Rule Your Life

stressed-1280x853I really liked this article by Brigette Hyacinth  read full article here in which she warns against letting your job rule your life. I am reminded of the many clients we have that want to start a business but are afraid it will also “Rule Their Life” by requiring too much of their time to operate.  And, frankly, I would agree that owning a business that rules your life doesn’t seem to be a much better circumstance than having a job that does the same thing.

In thinking about most of our clients, many of them are transitioning corporate professionals that have reached a tipping point in their career.  They realize that even though business ownership takes work, especially at start up, it may be a more satisfying and ultimately safer path to travel than corporate employment……. where the chance for being laid off again is very real.

Now, it is true that any business you start will most likely require a significant amount of time up front to implement systems, find the right initial employees and get sales headed upwards.    That said, I offer the following:

Over the 25 years we have been in business, I have found that most of our clients want two things when they make the leap into business ownership……they want control and they want balance in their life; time for the family, friends, vacations, etc.  They want other things too: independence, fulfillment, less business travel, no layoffs, community connection and more.  But it is primarily control and balance that they seek.  For those clients, our goal is to help them find a business they can build by implementing the right systems and hiring the right employees.   With these two things in place, and after some hard work to get it up and running, (and it always takes hard work to get it up and running) a business owner can begin to back away from the day to day operations and, as the saying goes “work on the business and not in the business.”  The good news is that there are many business and franchise concepts that are capable of growing to a point where they can offer the owner the control and balance they seek…….and often can’t find in the corporate world.

My feeling has always been that best business someone can own is a one that can grow and operate without the owner’s constant involvement in the daily operations.  Find such a business that is capable of providing growing and consistent income and building equity to leverage future expansion options or retirement options, and you have your control and life balance.

In his book, The E Myth (Revisted), Michael Gerber succinctly sums much of what I have said here.  “Once you recognize that the purpose of your life is not to serve your business, but that the primary purpose of your business is to serve your life, you can then go to work on your business, rather than in it, with a full understanding of why it is absolutely necessary for you to do so.”

Here is the good news.  If you are serious about business ownership and are willing to perform the proper due diligence and research, you can find a business that won’t “Rule your life”.

It is true!  Your job should not rule your life.  And, if you choose business ownership, then your business shouldn’t rule your life either.

Franchise Acumen

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