During a turbulent economy, the negative side of owning a small business is often the aspect that's publicized. Like most companies, small enterprises in virtually every industry saw business nosedive as the recession hit, with some unable to weather the storm.
However, it's not all bad. Entrepreneurs enjoy a range of perks, most notably having a flexible schedule, being able to follow their passion and only having to answer to themselves.
Selena Cuffe, president and CEO of South African wine importer Heritage Link Brands, recently wrote about some of the less apparent but nonetheless appreciated benefits associated with owning one's own company.
Cuffe noted that running your own business is a significant drain on your time. Although you don't have to punch a clock anymore, your work days are also unlikely to start at nine and end at five. This often takes a toll on the entrepreneurs' personal lives and decreases the amount of time they get to spend with their families. However, what may seem like a drawback can turn into a plus.
"Now that the quantity of time I spend with my family has dwindled, I find that I use the little time that I do have much more deliberately," Cuffe writes. "Whether it's dates with my husband, play time with my kids, or brunch with my sister, I am much more in the moment. I've taught myself to cherish these precious moments and use them to get even closer to my family."
Community oriented business owners can expand upon this idea by applying it to other areas of their lives, such as community involvement. Whether you're coaching a Little League team, contributing to the area chamber of commerce or maintaining an active presence at your local church, make the most of your time rather than leaving your mind back at the office.
Incorporating mini-vacations into business trips and dealing directly with decision-makers were two more benefits Cuffe named. At the end of the day, nothing's more important than spending quality time with your family and positively influencing your community, and that's something a community bank like My Bank understands. For financial tips, business banking needs and more, drop by your local branch or give us a call at 1-888-mybank4.