Small Business Traps & Myths: Myth #1 – No Pressure!

By Michele Blandino

Ask nearly anyone who has contemplated opening their own business what they looked forward most to being their own boss and they will likely tell you the lack of pressure. Yet for most small businesses the pressures don’t go away, they just come from different sources. In fact, it may surprise you to learn that small business owners are often exposed to more pressure than their corporate counterparts. 

Your Own Boss

Since you are your own boss, you no longer need to worry about meeting someone else’s (sometimes unreasonable) expectations on a daily basis. Without a boss to watch over your every move, you are free from the anxiety associated with making sure you get to the office on time, taking a longer lunch so that you can run a few errands or having to ask permission to leave early so that you can pick up your sick child from school. And while these are tremendous benefits, they can easily become a source of anxiety.

As the owner of a small business, it is often you and you alone that is responsible for making sure deadlines are met. As a result, you may often find yourself conflicted when faced with having to take care of personal business during the work day. Many small business owners compensate for time spent away from the office during the day by working extra hours in the evening. While this works for some people, others feel additional pressure from their family for working rather than spending time with them.

Success – and Failure – is up to You

As a small business owner, you are responsible for its success. For many people, their business is their only source of income and so a downturn in sales or a period of uncertainty can cause some anxious moments. As a result, before going solo you might consider evaluating your ability to financially and emotionally weather periods of limited earnings. If you do not have a reserve of funds from which you can draw during slow times or if uncertainty makes you particularly anxious, then you might want to reconsider your small business venture.

The “Dirty” Work

When planning their new business venture, many people don’t give adequate consideration to the need to complete some of the more mundane tasks associated with an independently operated organization. Tasks such as making sure there are adequate supplies, preparing and mailing invoices and tracking outstanding payments, and dealing with employee issues (assuming you have employees) are all things that must be done on a consistent basis. Failing to keep current with these administrative tasks can lead your business to almost certain failure.