Wanna Be Your Own Boss? Consider This Before You Take the Leap!

I work with many entrepreneurs and small business owners, and it’s often an inspiring and exciting journey for my clients. Owning your own business offers many advantages—like setting your own work hours, focusing on what truly matters to you, enjoying increased flexibility, less dependence on an external organization or manager, and the potential for greater financial rewards.

However, business ownership comes with challenges, including financial unpredictability, a heightened sense of responsibility, anxiety about business fluctuations, and the added labor involved in what I call the “work around work.”

What is the “work around work”?

The “work around work” refers to all the tasks required to maintain a business that are not directly related to its main product or service. These include bookkeeping, networking, billing, marketing, hiring, managing and firing staff, administrative tasks, and decision-making. In my experience, these tasks are often the first to be neglected, as most people prefer to focus on the core offering of their business.

But when the “work around work” is ignored, it can quickly lead to increased anxiety. Why? Because when the underlying infrastructure of a business becomes unstable, it eventually disrupts operations and leads to profit loss.

My Recommendation

I typically advise my clients to dedicate at least four hours a week to the “work around work” to keep their business running smoothly. This practice can prevent unnecessary stress and interruptions.

Whether you work for yourself or for an organization, it’s important to recognize all the types of labor involved in sustaining your work. With this understanding, you can make an informed decision about whether to remain an employee or take the leap into entrepreneurship, setting yourself up for long-term success.