What's the point of having your own business?

Almost every small businesses owner I have coached tells me the same thing - there is never any money left for them.
What is the point of having your own business?

Well, the answer to that is always different and it's also always the same. However it gets described, it is always a selfish motive:

  • More money
  • More time 
  • Escape the rat race 
  • Not work for an idiot anymore (doesn't always work!) 
  • Change the world 

But almost every small businesses owner I have coached tells me the same thing. There is never any money left for them. There isn't any time anymore to spend with my family because 'I am soooo busy'. And the reason for this is that they put themselves last. Instead of first.

I talked to a client today who had just had a quarter to die for. More revenue than he had in the previous 12 months. And I asked him how much of that revenue had gone into his pocket. None was his answer. So I asked him again. What was the point of having your own business? And he wrote down on his bit of paper that his order of priority is his team, then his suppliers, then HMRC and then, if anything is left, himself.

So I asked him, 'Who would look after his team after he falters when his life implodes from lack of work/life balance?'. The lightbulb went on and he crossed the ME off the bottom of the list and wrote it on the top. He got it.

So if you are running your business, ask yourself WHY am I here and WHAT do I want. And when you have worked it out, put it at the top of the list.