The Perils of Starting a Business and Having a Personal Life
Starting a business is difficult, with statistics from Bloomberg showing that more than 80% of new startups fail in the first 18 months. Not only have those 8 in 10 people failed at their dream entrepreneurship, many will be left with debt from the failed business, stress that will take many months to recover from, and they will likely have risked their health, family, and friendships in the undertaking. Oh, and with the failed business, they are now unemployed. Owning your own company is not as glamorous as it can look in the first few days of the idea taking shape in your mind.
The excitement takes over and as the momentum begins it can be a hurling adventure that takes on energy of its own and grabs you, taking you down a path you can’t deter from — for anything. Not family events, not friendships being neglected, forget meeting your own doctor’s appointments in your schedule, you have business things to attend to or they won’t get done.
Being on that merry-go-round is hard enough and facing the fact that it isn’t working out can be devastating. There are lessons to be learned. Those that are lucky the first go round are the ones that stay focused and balanced. The ones that fall off and decide to get back on will have a new perspective that could push them further ahead on the next path than if they had never failed.
I started my own company in Jacksonville, Florida. I entered an industry that was not only primarily male dominated, but not one in which it is easy to get your foot in the door. I became a bail bondsman. I then started my own company, Make It Happen Bail Bonds and now own several locations and off-branch companies within the same industry.
Like most new business owners, especially those business owners that have children and families to run as well, it is a difficult path. My advice is to anyone that has started, or perhaps been in the entrepreneurship game for a long time, is to make sure you schedule time for your personal life.
Look at your schedule and actually count how many appointments you have penciled in that are personal and compare that to what you are doing today for business. Is it balanced? Do you have an appointment to get exercise, to take a break and just go do something different for an hour to help you see the world different and think different as a business owner? Do you have appointments to meet friends or attend a family event? If not, then you need to take a deep breath and start rescheduling. After all, didn’t you start your business to make you and your family happy? Living balanced is the only way to truly find happiness while running a business.