My Take on Business Ownership
Is the typical 9-5 is wearing you down? Do you feel that you are stuck in a rut and not accomplishing, creating, and innovating products and/or services that bring a sense of pride and fulfillment to you? How about dealing with the office politics, micro-managing bosses, and the ghastly lady in accounting who nit picks your every move. Geeze, I can go on about that.. Perhaps I’ll write another blog and place it under the category of “VENTING.” Only kidding! Long story short, the grass is 100% greener on the business ownership and entrepreneurship side and I want to share with you the top 5 things I love most about owning and operating Kev’s Gym, LLC.1- Work is not “work”- I am passionate about helping others achieve their fitness goals, and operating a successful, ethical, and socially responsible business. Many times I will be working on a fitness plan, a workout video, or a blog and time will fly by in an instant. When you are creating something that you love, it will never be a chore.
2- You are in control- Say bye bye to the boss, because you are now your own boss. From establishing an effective company culture, managing employees, and developing/marketing your business, to designing a web site, accounting for all of your revenue and expenses, and making prudent business decisions, you are at the helm of the ship and success is 100% contingent on your ability to deliver.
3- Building Wealth- I compare developing a business to owning a home. When you own a home you can build equity, prices could appreciate, you may be able to rent a room out to a tenant, you can capitalize on various tax advantages, etc. On the other hand, when you rent, you obtain the right to occupy the space for a particular amount per month, and then when the lease ends you’re out. When you work for someone else, you’re just like the tenant who rents. You work from 9-5, get your pay check a couple times a month, but that’s pretty much it. If the employer has to downsize and you get laid off, what do you get? A couple weeks of severance and COBRA insurance (yikes). When you develop a successful business, not only do you receive your monthly pay checks, but you also have the ability to sell your business to someone else down the road.
4- The World is your Oyster- As an entrepreneur, if the opportunity doesn’t present itself, you figure out a way to create a new opportunity. In contrast, when you work for someone else, they are in control of what you do and how you advance throughout their company. No need to suck up to someone for a promotion. The promotion comes when you bust your butt and bring in your own income.
5- Nothing to Lose: Just do it. No excuses. I am currently working a full-time job, going to grad school on a part-time basis, training for a triathlon, and operating this business. If I can do it, you can definitely do it! I’ll leave you with a inspirational quote from the great Steve Jobs..
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”