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Posted by on Sep 9, 2014 in Small Business Tips | 2 comments

How to Get Back What You Had to Give Up to Start Your Business

How to Get Back What You Had to Give Up to Start Your Business

This post is brought to you by Deborah Sweeney, CEO of MyCorporation.com.

An entrepreneur makes countless sacrifices to see their dream business become a reality. Often, we forget that opening your own business is not just a career change, but a lifestyle change as well. The days of clocking in from 9 to 5 are over only to be replaced with a sort of whenever-I-can-get-work-done schedule, because running a business is a labor of love. You want to see it succeed, and therefore put as much work in as possible.

Though, thankfully, all those big things you gave up in the beginning will someday make their way back to you once your business gets into a rhythm. Here’s how to get back what you gave up!

Time

Let’s face it. When you first dive into the process of starting a business, you are essentially signing over your life. There is so much to do! Incorporating, trademarking and finding a registered agent- oh my! And when you first open up shop, it doesn’t slow down from there. There are customers to earn and profits to break even on!

So how do you get even a slice of that time back? You hire excellent employees with whom you trust your business. When you have a solid team behind you, leaving a little early some days to pick up your kids from school, or going on a week vacation once every summer is not the end of the world. You don’t want to feel like you can never leave or take time to yourself because you don’t trust your team. Keep this in mind when hiring. 

Money

It’s so easy for new business owners to spend all their money right away. They want their new office to be filled with all the latest luxuries from a vending machine to an espresso maker to keep their awesome team happy. But start slow. The best way to start earning some of that money back is to only buy what you can afford. Start with a mini fridge and work your way up.

Consistency

The life of a business owner is typically anything but consistent, but it is possible to establish some form of routine. A great way to accomplish that is to at least start and end your day the same way every day. I personally like to start my day at the office by making a to-do list of everything I want to get accomplished that day. Then, before I leave for the day, I make sure I’ve tended to all the pressing emails in my inbox. Whatever else happens in between can, and probably will, change on a daily basis. But that’s just part of owning a small business– sometimes, you have to roll with the punches.

Deborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @deborahsweeney and @mycorporation.

  • Marcey Rader

    Giving up time in some ways is subjective. I have worked 6 days a week since I started 1.5 years ago. While I want that to change at some point, the good thing is that I love what I do so much that 90% of the time, I don’t even mind I am working so much! Now the money thing on the other hand….. :)

  • Brady Mills

    These are great tips. I am just now, after almost 10 years starting to really evaluate my company’s processes. If I’m spending more than 8 hours a day working, I’m doing something inefficiently. At my company, we are rethinking everything. I’m finding ways to delegate better, teaching my team to become hyper aware of time management issues, to identify anything that holds them back from their potential, and suggest ways to improve the process. I too am analyzing every thing I do (even the things I’ve already made more efficient) to find better, faster and more cost-effective ways. Those task lists in the morning are important. Marking them off feels good and having a list keeps you focused on getting them done! I prefer to write them on paper (not a computer list) so I can physically mark them off. To improve our process, I’m delegating or outsourcing all the small tasks that take me away from what I’m really good at. In that way, our clients are happier because they get our best work, our employees are happier because they have strong leadership and direction while also being trusted to suggest improvements, and we (business owners) are happier because our day begins and ends on a schedule, we get our free time to rejuvenate, and most of all our company runs well and continues to grow because we have started thinking of it as a living, breathing and constantly evolving being.