What Do You Love About Owning a Business?

Do you love being in charge of your own life as a business owner? You’re in good company. A whopping 96 percent of small business owners (SBOs) in the U.S. feel that control and flexibility is the best part of owning their own businesses, according to the TD Bank Small Business Month Survey.
 
Small business owners also love talking to clients and customers, the survey says. More than two-thirds (68 percent) report that’s their favorite part of running a business, while 40 percent love fulfilling product orders or providing services, and one-fourth love selling and setting appointments.

OK, so what do small business owners hate? Not surprisingly (to me, anyway), bookkeeping tops the list. Although 15 percent listed bookkeeping as their favorite small business task, they were far outweighed by the 46 percent who say it’s their most-hated chore. Marketing and banking/finances tied for second-most-hated tasks (22 percent each).
 
As a small business owner, you put in long hours. Almost half of those surveyed work more than 40 hours per week, and 40 percent work between 40 and 60 hours. When you’re devoting that much time to your business, wouldn’t it be nice to enjoy what you’re doing?

How can you do more of what you love and less of what you hate on a daily basis? Try these three tips:

1.    Choose a business you enjoy.

If you’re still working on your business idea, it’s important to pick something you’re passionate about. This is the number-one advice I hear from small business owners. Burning the midnight oil getting your company off the ground is a lot easier if you love what you’re doing!

2.    Get help.

If at all possible, outsource, hire employees or find a business partner who loves doing what you hate to do. If you hate selling, you’re going to be in trouble, since sales is key to any business’s success. If you can’t afford to hire inside salespeople, options include hiring an independent sales rep who is willing to work on commission or finding a partner who’s good at sales so you can focus on what you do best. On a really tight budget? Enlist family and friends to help out until you can afford to outsource.'

3.    Learn to love it.

When you don’t know how to do something well, you’re probably not going to enjoy doing it. Fortunately, there are many ways to learn the ropes of everything from social media to management to bookkeeping and accounting. Adult education or community college courses, online webinars and courses, or industry association seminars are just a few.

One of the best ways to get educated about all aspects of running your business is to work with a mentor at SCORE. SCORE mentors can teach you everything you need to know—and if you still don’t like accounting, they can help you find someone in your community to handle it for you. Visit www.score.org to get matched with a mentor today.
 

 

Rieva Lesonsky
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