3_Female_Entrepreneurs

The Truth About Being Your Own Boss

Maybe you’re already your own boss, or maybe it’s something you aspire to be in the not too distant future.

Unless you’re totally cut off from the online world and social media, then you’ve no doubt read stories or seen ads popping up in your social media feeds featuring “successful” entrepreneurs posing in fancy cars, jets or sitting on a beach sipping cocktails.

The internet is overflowing with these kinds of success stories – they are everywhere – LinkedIn, Facebook, Instagram and the list goes on.

Are they true? Maybe. But that’s not the point.

My point is this…the stories are all about chucking in boring jobs, starting their own business, making millions and sitting on a beach watching the money roll in.

Sounds like a dream life. Right?

It’s absolutely true that when you start your own business and work for yourself you have the freedom to do as you like.

You have no one else to answer to except yourself. Total freedom.

Hmmm, …idyllic BUT not quite that simple.

Even for those who are at the very top of the tree, there’s still a ton of work to be done behind the scenes.

Yes, it’s definitely true that you have freedom in the sense you get to choose what to do and when to do it. But… only to a certain extent.

I currently have my own business and have owned a couple of others prior to starting Dragon Sisters 10 years ago. I do, on the surface, have freedom and flexibility to do as I like.

The Truth

However, the reality of being your own boss is a little different.

The bottom line is this … It all comes down to your own efforts to succeed. You are in the driver’s seat and 100% responsible.

You are your own hero.

The truth is, as someone who runs their own business, the onus always lies on you to bring in the $$.

Of course, the more successful you are, the less pressure there is on bringing in the basics to cover the day-to-day essentials.

However, here’s the thing…

No matter how successful you are, you still need to be out there smarketing.

You need to be paying attention to your strategy, sales and marketing.

For instance, coming back to my own example, even when I’m fully booked up I’m still out there adding in workshop dates, interacting on social media and attending a couple of face to face events.

I’m actively keeping my brand out there.

Why do you need to do this?

No matter what your product or service is unless you continue to pay attention to your profile in the marketplace, you cannot stay front of mind.

This is why all the top names spend time and money doing tours, running workshops, marketing via social media and much more. They are constantly on the lookout for ways to stay ahead of the game, to be at the forefront.

When you stop and think about this, it makes absolute sense. The world moves at a fast pace today and there is so much competition for attention.

The Danger Zone

As you start to get ahead you begin to feel confident. That’s a great feeling. Things are going in the direction you want, so you start to relax a bit. After all, you’ve done the hard work.

This is the danger point.

Unless you have robust systems in place, you cannot expect to just take off and leave your business to tick along.

I’ve seen this happen all too often. Good people going down the tubes because they’ve failed to famine proof the business by having systems in place. Their radars are not alert to nuances of change or to opportunities for growth.

NOOO! I want to scream out. Sure, take a little break to refresh and relax, but you must also reframe your thinking.

Yes, take a holiday. Yes, take time for yourself, but have a plan in place for things to be managed while you are away.

Make sure you are personally looking over reports, check in on your own social media channels and keep your radar alert for anything that is out of the ordinary.

It makes me want to cry when I see people who have spent months, perhaps years, building businesses to a point of success and then taking their foot off the accelerator when the pressure to succeed eases.

I have made this very mistake myself, and I speak from experience and lessons learnt.

Keep the focus on your business no matter what.

It’s the old adage “momentum flows where attention goes.”

If your attention is not on your business then it loses momentum.

Notice I used the word ON rather than in?

This is a really important differential.

When you work ON your business, you’re taking a helicopter perspective. You have a vision, you see opportunity and you maximise wherever you can.

Working in your business means your head is down, occupied with the detail and minutia. You cannot see the woods for the trees.

As your business grows, it is vital to take the time to work ON the business, as opposed to in it. This is what those highly successful people sitting on the beach are doing. They’re working on their business – always.

The being your own boss formula is simple. Put in the time and your business will grow.

If you love what you do and have a real passion for it, then it no longer seems like work.

6 Tips for Working ON Your Business

1) Set aside 20 minutes a day (5 days a week) dedicated to your personal marketing activities.

This does not mean pushing out brand messages. It means interacting. Remember, people buy people so you need to maintain your presence to stay front of mind.

2) Be consistently attentive

People remember those who bother to respond personally. Don’t fall into the trap of only responding or reaching out when you want something.

3) Regularly view your business revenue streams.

What can you tweak? What should you ditch? What can you add?

4) Delegate/Outsource.

Consider what tasks can be handled by others freeing you up to concentrate on what you do best.  This FREE tip sheet may be helpful when it comes to choosing a consultant to outsource to.

5) Actively listen to your marketplace.

Be truly attentive to what they are saying in order to meet their needs. It’s not about selling your product or service, it’s about offering a solution to their problem.

6) Set aside time for yourself each day – to refresh, reframe and relax.

This is not an indulgence but essential to your personal well being. Time for yourself means you have a chance to allow still the chatter in your mind. Meditation, journalling and walking are some of my personal favourite ways of grabbing “me time” each day.

Nurturing your success

Starting your own business is an adventure. One that comes with many ups, and downs, but brings with it many rewards.

Your ongoing nurturing will ensure your business continues to thrive.  You’ll be able to sit on the beach and your efforts in working on the business are helping it become famine proof.

If you want the freedom to follow your passion, then owning your own business and being your own boss is fantastic. I have never looked back. Sure there are hurdles to overcome at times, but I love what I do.

The photograph I’ve used for this post was taken with fellow Telstra Business Women’s Awards alumni – Denise Dunn from Slappa’s Thongs and Nathalie Hernandez from Ella Bache Palmerston .

To your success,

Michelle

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