I recently read a story on Reddit that every entrepreneur should see
(especially if you believe working your arse off = quick success)
Anyway here it goes:
“I recently joined a “breakfast club” type of group for entrepreneurs in my local area. They supposedly provide a support group for entrepreneurs and also help with networking and general sharing of knowledge. The first few meetings I wasn’t speaking that much and just observing, they are a very driven and energetic group, I like their vibe. I’d say about 95% of them are founders of companies who want to go the startup route and are focusing on getting investors and not profitability. I have no qualms about that, it’s not my preferred way personally but I don’t really mind and am open to different perspectives.
Today is the first time I sort of shared how I run my business. The things I shared include how I’m not really looking for supersonic growth, but more like a stable growth. The first thing that they asked me was which seed round am I in, and I said I’m self-funding my business and I’m really not looking for investors.
Everyone seemed kinda incredulous about that.
I shared that in my previous business, I had business partners who invested huge amounts of money and dealing with them drove me to burnout. I had a successful exit there and was able to buy a house and save some more. I don’t like supersonic growth because I’m scared that my mental health may be compromised. I overdosed on meds when I was in that previous business because of the stress, the millions of money at stake for just one single human error, so I can’t go through that again.
In my business now, I’m actively choosing not to go that route again. My business is profitable. I have enough money to fund the business for a year and keep my 2 staff on even without new clients, I’m spending more on marketing and focusing on creating internal systems and productizing my services. I no longer work as long as I did before when I was in my previous business. I still work maybe extra 5 hours in the weekends but that’s it, I enjoy my weekends now with some foster cats that I have and with my SO.
However I think this doesn’t mean that I’m lazy. When I am working on my business, I AM ON. LASER FOCUSED. I’m still learning ways to get more clients and expand my business but my goal is for the expansion to not be super explosive, but more of a stable growth.
When I got home, someone from the group who I’ve become quite close to said that they’re talking about me in some different group chats and calling me lazy because I’m not working every day including weekends and because I don’t live and breath my business’ expansion. It kinda hurt me because I’m definitely not lazy and it’s so discouraging hearing this from entrepreneurs who are supposedly going through the same things that I am.
I understand that there are some business owners out there who are aiming for fast expansion, to be a unicorn, to have that billion dollar valuation and that’s fine. But it’s just not me. And just because it’s not me doesn’t mean I’m lazy.
My business journey now is definitely more difficult than what I had with my previous business with partners IN A GOOD WAY because now I have to figure out the business registration and the tax filings and bookeepings and stuff like that when before, my investors already had the back office team to deal with all those things. But it’s definitely difficult in a good way because it’s exciting and I’m learning a lot. Every time I spend on something related to business registration I get that adrenaline rush as if telling me wow this is legit I’m really running my business on my own with no partners to help me or tell me what to do. It’s exhilarating.
I don’t want my business to enslave me. I want to have this business to get enough money so that when I want to take a day off, I can. When I need to go to a school event with my future kids, I can without asking anyone. Just want a good life for the future family.
I’m never going back to that entrepreneur group again. I’m just really sad with how they reacted. :(“A lesson learned from Reddit
In fact, I believe if Gary Vee joined this “breakfast club”, he would have been the MVP of the group killing himself because he’s hustling his arse off.
I have to concur with this fellow business owner that he doesn’t want his business to “enslave” him because I have been there, done that…and it’s horrendous.
I remembered when I first bought my marketing agency for several months and then my first daughter was born. I was with my wife in my hospital. On the 2nd day, the previous owner whom I employed to keep things rolling informed me that the Director of Sales was leaving.
Welcome to the chaotic world of being an entrepreneur!
I was holding my 24-hour-old daughter while on the phone with my employee, aka “the previous owner”, to find a solution to keep clients from leaving.
Long story short, the “previous owner” agreed to step up the role to become my sales guy while we find a new replacement.
After my wife was discharged, I went home with her but my mind couldn’t stop thinking about work, the agency, and the team. I continued to burn midnight oil to prepare proposals, review invoices, and launch marketing campaigns.
I am sure folks from the “breakfast club” would have been proud of me.
But it sucks big time.
Just like any first-time mother, my wife struggles to pump milk and sacrifices a lot so that I can focus on work. I resent myself for not being there with her (e.g. I was there with her by my mind was somewhere else).
Anyway, knowing what I know now, I believe with all my heart that the cost of killing yourself for business is not worth it.
That’s why I believe in living my L.I.F.E™ (Lucrative, Innovative, Fun, and Easy) business and no longer have an S.O.S.™ business (Struggling, Obnoxious, and Stressful).
Money comes and goes. But what’s left is who you are and what you become.
Hustling to the point of burning out is happening to entrepreneurs at all levels more than you think.
Don’t be the hustling-burning-midnight-oil guy.
If you don’t want your business to enslave me so that you can take a day off or hang out with your family without asking anyone, you can check out my app called uSpenduWin to help you instantly increase sales and retain customers with blockchain lottery.
Go here: http://uSpenduWin.com