“If you’re starting something on your own, you better have a passion for it, because this is hard work.”
~ Sallie Krawcheck, Co-founder of Ellevest
In this piece, I share with you why I don’t recommend starting a business to most people who ask me about it.
Given what I do — running my own business (from home) and coaching others on how to build and grow theirs — you can bet that I get a lot of people wanting to talk to me about how they might get started as a coach or other online business owner.
I’ve had it many times over the years, basically from people who are unhappy in their 9–5 job and searching for an alternative. Once they learn about what I do, the freedom it affords me and the success I’ve had with it, they are intrigued to explore if the online business world is something that they might also get into.
90% of the time, when I get approached in this way, my heart sinks.
Because usually, they are enquiring about starting their own business for all the wrong reasons.
The wrong reasons
The main reasons people are wanting to explore starting a business or becoming a coach include:
- Hating their 9–5 job
- Wanting to work from home so that they don’t have to deal with office politics (and can work in their pyjamas!)
- Wanting more freedom to be able to work whenever and wherever they want
- The ability to make more money than they can working for someone else.
- Wanting to do work that they enjoy more than the work they currently do.
- Loving the idea of being a coach and getting paid to talk to people.
Now while there’s nothing inherently wrong with any of these reasons (I can totally relate personally to each and every one of these), if these are the only reasons a person has, I think building a successful and sustainable business is going to be an uphill struggle.
Let’s dive into the 6 reasons why I think this.
1. Running your own business is harder than working 9–5