Owning a business was not on my list of things to do before I die, it just happened. Some might say that luck fell my way, others might not. There are advantages and disadvantages of owning a business. Realizing the advantages did not come to me until I had lost the business. I now feel that I gave up on fighting to keep the business, it was not a hardwired choice that I had made or even wanted. This made it easier to let go.
Owning a business is extremely challenging, regardless of the venue. A friend of mine once told me she was jealous because I owned my business, I asked her "Why?". When you own a business, you get there before anyone else, leave after everyone else and work at home or at least have it on your mind. The business consumes your life. When you have owned the business 10 years and it is on a successful financial tidal wave that will not find the shore to crash on is when you can relax.
In the beginning, I worked by myself from my computer in my bedroom. The more accounts I received, the more work I could not do alone. I trained my father to work with me, then my sister and my nephew. Six months later, I hired two ladies from a temporary service who worked for me until I closed. When I closed, I had twenty one employees, an office lease and all of the other technological equipment necessary to run the business.
Closing was due to a major financial loss of a contract that provided the majority of the income. There was no turning back, closing was the only option.
The constant worry about making payroll, hiring and firing, dealing with immature employees, bills and TAXES provided much stress and weight control issues that I still am trying to gain control of today. The IRS does not make owning a business easy when you have employees and if you offer benefits, then the income is drastically effected when you are a small business.
Now that I can reflect on the positive instead of the negative of owning a business, I can provide the most rewarding part of owning your own business. I wish I had the opportunity to own a successful business that allowed me to benefit the reward that never came. If it becomes successful, you will gain monetary freedom to be able to support your family and lifestyle and have the awesome self awareness that your hard work and dedication was rewarded.