Man, I get asked this question all the time: “Nathan, what’s it like owning your own business?” And I’m like, that’s a loaded question right there. After 25+ years of being a business owner with different ventures, I’ve got some things to say about this whole entrepreneurship game.
Here’s What They Don’t Tell You About Starting a Business
First of all, and I mean this with all my heart, I try to scare people away from starting a business. Yeah, you heard that right. Starting a business is sexy, but keeping it alive is doing CPR if you don’t have the right support, tools, and mindset.
There are many boxes you get to check off, and you’re like, “hey, this is cool,” in the beginning. But man, the reality hits different.
For those who start without getting the proper advice, the moment they start their business, they immediately become in debt. Because they haven’t had that first sale yet. That’s how things start, and it’s a grind from day one.
No matter how much the business is researched, there’s never going to be a “perfect” time to start a business. However, that doesn’t mean you shouldn’t start if that’s what you believe in your heart.
The Beautiful and Brutal Truth
As my buddy told me once: “The beautiful thing about entrepreneurship is you are responsible for your financial freedom. The bad thing? You are responsible for your financial freedom.”
And here’s something I’ve learned after all these years that I tell my clients all the time – your personal demons become your business obstacles. It’s really hard because if you’re not great at taking feedback (and you got to be somewhat stubborn and strong-willed to say “I’m going to succeed”), but if you don’t take feedback very well, then you’re going to be up a creek with no exit.
Trust me, I’ve found myself down those creeks sometimes because I was like “nah, I’m going to make it work, I’m going to force it.” But your business has nothing to do with you when you’re selling.
The Two Sides of Business: Working ON vs Working IN
You got to learn how to work on the business – that’s your infrastructure, your systems, your scaling and growth strategies. Then you got to work in the business – that’s getting sales, working with clients, nurturing everything you built.
From my Marine Corps days, I’m all about systems. Systems give you parameters to the left and right, a buffer zone so you know where to stay. And man, do you need that in business.
The Marketing Reality Every Business Owner Faces
Here’s the thing, every single business owner is a salesperson, and sometimes that’s just hard. I get it. But if you don’t identify your customer, your clientele, you can’t serve everybody, so you’ll lose.
I work with a lot of B2B clients, and I help them figure out what’s going to work best for their style because we all have our own style. It’s about knowing who you serve, when you serve them, and how to make them know, like, and trust you.
The Stuff That’ll Make You Want to Quit
I hate doing my QuickBooks, but I’m going out of business if I don’t know my numbers. There’s always something – bills got to get paid, clients got to get taken care of, always looking at what issues are in front of you.
Your business is like a needy child, a needy baby, until you can find the right people to delegate tasks to. It’s always in constant need. You’re not on vacation from your business if you go on vacation.
Whether it is day or night, you are responsible for it.
But Here’s the Good Part (And Why I Still Do This)
I’m very blessed that I can take my little one to work with me, allow them to do what they need to do, and make time for my kids.
That flexibility? And man… that’s priceless.
No day ever gets repeated. Every day is different when you’re doing everything you’re supposed to be doing.
When You’re Working in What You Love
When you’re working in the business that you love, doing what you do – man, it’s the greatest feeling. It’s so awesome, so fulfilling. I’ve had clients cry. I’ve traveled to conferences where they pay for my travel, and clients come back saying “you changed my life.”
I’m also an adjunct professor at a couple of different colleges, and I wrote a textbook (man, that was rough on some of the feedback, but I got really great feedback too). I’ve had students say, “You changed my life.”
That’s the stuff that makes all the grind worth it.
The Mindset Shift: Consumer to Producer
When you’re around the right people, you quickly learn there’s a consumer mindset and a producer mindset. As an employee, you have a consumer mindset, “I’m here from 8 to 5, I’m here so I won’t get fined.” That’s in my Marshawn Lynch voice.
But with a producer mindset, it’s not about how long you’re there. It’s about how much work you get done, the quality of that work, and what needs to get done. Maybe you can do that in four hours, maybe three hours.
My Real Talk Advice
Markets change, businesses change, and you have to change. Nothing will remain the same if you’re doing it correctly. In the pandemic, I didn’t get any PPP money or even know if I would exist. But I didn’t quit. I kept going.
Making it to six figures was hard. It took me a few years, while earning my first cashflow on Uber. Now I’m trying to get to seven figures, eight figures, and more. The goals keep growing.
It’s not about making money, but it’s a good measurement.
If you’re thinking about starting a business, here’s what I tell people:
- Don’t overthink it and just get started. Put the work in. See if it’s going to work.
- Make sure you’re passionate about it.
- Be open to help in your business. You’ll have to wear many hats initially, but at some point, you’ll have to delegate the small tasks.
- Have the hustle and determination. When you get started, you don’t realize that this REQUIRES all of you.
The Bottom Line
Owning a business can be the best thing for you if you embrace every facet of it. It could be the right thing for you, if you aren’t honest with yourself. Only you know. It might be the only way you’ll thrive in life, and it may be your calling.
You can make it work for you. Get that EIN and make it work for you.
But you’ve got to make it work for YOU.
The beauty of being an entrepreneur is that everything is in your hands. Sometimes that’s scary, but sometimes that’s exactly what you need.
Been thinking about starting your own business or need help with your B2B marketing strategy? I work with business owners who are serious about growth and aren’t afraid to do the work. If you’re passionate about what you do and ready to invest in real results, let’s talk.
Dream big, don’t settle, and God speed.
