When To Leave Your Own Small Business

What this episode covers

We all do jobs for the wrong reasons – you don’t want to let people down, perhaps you don’t know how to say ‘No’, and hey, doesn't everyone need cash in the bank? However, if you are unhappy and frustrated, stop what you are doing – even if it is your own business. Stick to your guns, follow your dreams, and aim for your goals. Make sure you are going in the right direction! Even if your company is growing and generating money, you may be left feeling lost and realise it was not what you wanted. You may no longer have a passion for what you are doing. Owning a business can be overwhelming and stressful. It often means working twice as long and twice as hard for half the pay. Don’t go rushing into your own business. It can be a headache. You are constantly trying to get to the next level and find reliable people to work for your company. This is definitely not the dream of owning a business! It is a very difficult and hard decision to leave your business, but it could be the right answer. It can be a big relief to walk away - less stress, less work. You can focus on your trade and not have to worry about the rest. Build something that works for you. Build something that you enjoy and gives you the lifestyle you want. That is being an entrepreneur! About Daniel: Daniel comes from a small trade-based business. Then he set up his own business, only to become burnt out, end up really disliking what he was doing for himself and in the end, he simply left. As a result, he became more productive and profitable. Challenged Issue:  In this podcast, we challenge the issue of those of you who have a small business – does that mean you are an entrepreneur or did you just create a job for yourself? And you treating yourself and the business you are in with the respect that you and the job deserves? Daniel’s Actionable Tips: * Put a value on your time. Then compare how long and how much it will cost to do a task to determine whether you should do it or if you should hire someone to do it. * Learn to tell your story in a way that you are not hard selling, but involving your customers. * Learn from the experience of others by investing in yourself.  Top Quotes: * “Most of us at this level never really … we don’t even plan to have a business in the beginning.” * “Overnight, you realise … I am now a business owner.” * “It’s an overwhelming process that sneaks up on you.” * “They are not really reaping the rewards of being a business owner.” * “Be careful of what you wish for.” * “No one sets up in business to not be happy.” * “Get help early on and figure out the direction you want to go.” * “Years later, we look up and we’re surprised at where we end up.” * “Learning when to say ‘No’ is key.” * “Why are we even here?” * “You need this pride, you need to build a business, you need to build something – but you don’t.” * “There’s no real pride in being a small business owner.” * “I must do everything, and that is when people burn out.” Guest Links: * Blog (danielericbowling.com) * Podcast (smartradesmen.com)  Resources: * The Essential 14–Day Guide to Cutting Your Working Hours and Increasing Your Impact (https://www.excellence-expected.com/cwh/) Key Timestamps: * 0:37 Challenged issue * 1:07 Introduction and background of guest * 2:55 Realization of being a business owner * 3:43 Decision to leave your own company * 6:57 Transition from worker to business owner...