What is one of the most important things in the world to most entrepreneurs? Think about it: why do you want to be—or why are you—an entrepreneur or solopreneur? Is it for the money? That factor’s in of course, but if you’re like so many small business owners, money is an elusive commodity (at least for a while.) Okay, if you haven’t guessed it; it’s freedom. The vast majority of small business owners will tell you that freedom is one of the most important things in the world to them—if not THE most important. We give up the drudgery of the eight to five ball and chain in search of glorious freedom. But wait. Eight to five? That’s way less then you’re probably working in your own business! What happened? Where’s the freedom in that!?
If this sounds familiar to you, you’re not alone. Entrepreneurs are some of the hardest-working people out there. So if freedom is such an important part of our happiness, how and why do we fall into the trap of working sixty plus hours a week? The truly curious part is that, in spite of these long hours, many business owners still feel a greater sense of freedom than they would if they worked for someone else. That’s because they are choosing this way of life and they can typically arrange those hours in whatever way they like. They have the freedom to do what they want, when they want—to some degree anyway. They have the freedom to make their own choices and determine the future of their company. Ahhhh, sweet freedom.
But even so, is it enough? Maybe for the first couple of years it is, but beyond that the demanding schedule a business owner takes on will take its toll eventually. And to make matters worse, they do it for little or no monetary compensation. They’ve fallen into the “Freedom Trap,” thinking that working for themselves will allow life without limitations, yet they feel limited in time, money, and happiness.
So what is this freedom seeking, creative, and possibly disillusioned person to do? It begins with proper and realistic planning and continues with the same. Plan, plan, and plan some more. Many of the business owners I speak with jumped into their business knowing how to deliver a product or service, but knowing little to nothing about running a business. You CAN build the perfect business and enjoy your freedom too. Just plan carefully and watch out for these common traps:
