Owning your own business comes with a lot of perks.
From the extra income to the freedom to live life on your terms, it’s no wonder why so many people dream of it.
While being a business owner is certainly worth pursuing, there are some things that most books, podcasts, and videos simply don’t teach us.
This is where I’ll be sharing 3 major aspects of owning a business that no one tells you.
Hi, my name is Mei Pak, and I help makers, artists, and designers make a living by selling their handmade products online.
There are a lot of so-called online business gurus out there, and many of them will tell you that owning a business is all glitz, glamour, and passive income.
1. The Stress
We’ve probably all seen the Instagram ads from people who claim they make seven figures by working just an hour a week!
But here’s the first thing that no one tells you about owning a business: it’s stressful!
As a business owner, you’re the only one responsible for its success–especially in the beginning.
That means you’ll take on the role of:
- Head of Marketing
- Lead Salesperson
- And much more
Not only does this place added responsibility on your shoulders, it means that your income is directly related to your performance.
As you can probably guess, the pressure to perform is very real.
Instead of performing for your boss, as you would in a “regular” job, you’re performing for thousands of people: your customers.
On the one hand, that extra pressure is a good thing.
It keeps us motivated and helps us work toward making our business the best that it can be.
On the other hand, it can be tough to be accountable to each and every one of your customers.
Ultimately, some of those customers will hate you for seemingly no reason.
They’ll even say incredibly mean things to you, just because you’re the public face of your company.
You’ll have to learn that you simply can’t please everyone–and that’s okay.
Eventually, you’ll reach a point in your business where things begin to get easier.
At the very least, you’ll be able to delegate some of the hundreds of tasks you’ve had to handle on your own.
Whether you’re just starting or you’ve been in business for years, it’s likely that some level of stress will always be there.
2. Take Initiative
The second thing no one tells you about owning a business is that it takes a ton of initiative.
In a regular nine-to-five, you’re usually told what to do, or you’re given a set of goals to achieve on a certain timeline.
Most people–especially those online gurus–will tell you that working a nine-to-five job is a fate worse than death.
But for many people, there’s comfort in having a predictable work life.
As a business owner, you’re setting out into a world of the unknown.
In the beginning, there’s no boss giving you a deadline, no productivity metrics to keep you accountable, and no coworkers to rely on.
In reality, no one is making you do anything.
Right now, you’re probably thinking, ‘that sounds great!’
To be fair, the freedom that comes from owning your own business is certainly a perk.
Since no one is holding you accountable, you have to learn to master the art of self-motivation. At least, at first.
Eventually, you will become accountable to someone; your customers.
They’ll begin to expect a certain level of service, and you’ll need to work pretty hard to meet those expectations.
Until you do get to that point, it's incredibly important to keep that laser focus.
The ability to work and succeed independently is one of the greatest skills you can ever master.
3. Self Development
Now, I don’t want to make you think that owning your own business is all stress and pressure.
In fact, one thing no one tells you is how much you’ll actually end up learning.
Sure, you’ll learn how to manage products, marketing, and even people. Beyond that, owning your own business will give you a huge lesson in self-development–and it’s one that you could never learn from a “regular” job.
Because you need to make your business succeed no matter what life throws at you, you’ll build skills you just can’t get from books or courses.
When you keep working on your business even when no orders are coming in, you learn perseverance.
When those nasty customer reviews come in, even though you did nothing wrong, and you shrug it off, that’s emotional fortitude.
When a dozen things go wrong in a day, you’ll develop some great problem-solving skills! And as a bonus, you’ll be great at adapting to all the new situations that will eventually pop up.
The best part?
These skills go way beyond your business. They’ll make their way into every aspect of your life!
You’ll find yourself more confident, assertive, and ready to take on any interaction!
I couldn’t resist throwing in a personal bonus point: Everyone talks about building a business so that you can make millions and retire by 25.
And that’s great!
But there’s another aspect to business ownership that many people don’t consider.
It’s extremely fulfilling to start a business from absolutely nothing and watch it succeed!
I’m not just talking about the extra income.
Yes, the financial side is great, but if you can measure your success in how it impacts the lives of other people, then you’ve already won.
In my own business, I’ve been fortunate enough to give jobs to dozens of people with many different backgrounds.
I’ve even been able to hire my two brothers-in-law, giving them a bright future–both financially, and in working with their family.
Giving back to your family and your community is so rewarding.
All of this is especially true if your business centers around a love for creating things.
Every moment of work you put into your handmade products is a moment you spend making someone’s day a little brighter.
As your business grows, you’ll be able to impact thousands–even millions–of people around the world.
I hope this helps you find motivation on your own business journey!
If you enjoyed this post or have any of your own business-owning secrets to share, please leave a comment below!
Don’t forget to check out my YouTube Channel for more handmade business tips.