I’ve talked before about the ups and downs of starting your own business. There are some phenomenal ups when the business hits a new milestone or when one of your big ideas gets implemented and does exactly or even more than you expected it to. There are some super downs too, when it seems as if making another 10% is just too far away and everything you do is hardly worth the effort.
The truth of course is that even that effort which I may consider wasted at the time has taught me something and taken me further along the journey to success.
Now I’m well tuned and been at this for over two years now. Although I haven’t learnt how to cope with each side of this emotional rollercoaster, I have learnt to spot the signs and know I’m in one or the other, when its happening. This recognition in itself has helped me cope with the down times better, and really capitalise on my ups by either writing about it or by marketing the hell out of it.
However there is a realisation I have come to recently. The business is growing, but slowly. I can see the step-change in progress however am also very aware that it is likely to take longer to get to a stage where I can support the family from business profits. Tough decisions need to be made.
Firstly, I am not going to kill the business. It is doing well and moving in the right direction. Its just a matter of continuous energy, money and time. Secondly, its hard to say (and even write) but I think I’m going to jump back head first into corporate life, i.e. a 9-5, i.e. a job. In a way, this is a good thing. It will give the family and me a bit of a break from the cost-crisis at home and it will give me time (yes I said ‘time’) to look from the outside in and really map out the next stage of growing the business and more importantly what I need to do to get it there.
What are your thoughts? Have you been in this position yourself?
Latest posts by Anand (see all)
- Are you sure your home is not on the market for sale? - February 5, 2017
- How We Fail Charities - February 3, 2017
- The simple trick that helps me stay away from my smartphone - January 2, 2017
Anand you are spot on. Unless you are super wealthy or pick up low equity loss investment, set your business up, let most of it automate and then try to get some income in from somewhere else until your business generate enough money, normally most people stay in corporate life and build their business up part time.
Thanks for the comment Jay. Building a business from scratch part-time can be a long process, but I can see why people do it. I’m quite proud that I jumped head first into business, and looking back on what I’ve achieved over that time has been it has been amazing. Time to step back, refocus and replenish the reserves now!