the reality of owning a small business
Starting your own business is one of the riskiest things you will ever do. You will invest your money, your time and your entire life into getting it going, getting people to see it and then deciding what kind of business you want to run and what kind of business owner you want to be.
Entrepreneurs are visionaries. We can see something as more than what it is. We are not fortune tellers. And this is where the problem can be. We believe in something, put our heart into it, and work so hard that failure is not an option. Unless you’ve been there before, there is simply no way you could imagine the stress, joy, exhaustion, exhilaration, disappointment and deliverance that comes with running a business.
When I started Simple Ritual, I started it as a passion project. I understood the importance of working hard, but nobody prepares you for just how hard you have to work to be successful, and just how much money you have to spend, and spend, and spend.
We see so many small businesses on TikTok and Instagram crushing it and getting order after order after order. That is not a reality that many small business owners face. There have been many times when I have been so excited and pumped to release a product, only to have 0 purchases or interest.
Entrepreneurs naturally chase profits — but on the other side of the coin are expenses. And then more expenses. And more expenses after that. I started Simple Ritual back in 2020 with $3,000.00. Yes, I have made my money back, but I never see a penny of it, it all goes back into the business. I had no idea just how expensive things would become over the years. Packaging, programs, marketing, raw materials, accounting, and the list just goes on and on.
“Owning a business is a lot like having a baby,” said Lynn Coleman of Your Epic Business. “You think you know what it’s going to be like, but before it happens, you don’t have a clue. Sleepless nights, unexpected costs, tears.”
Don't get me wrong, there are so many perks to having something to call your own that make it so worthwhile.
When you partner with a brand/influencer that is a joy to work with. When another business buys a wholesale order to sell in their store. When a company wants to purchase your products as gifts to their employees. When someone shares a photo of your product in their home and how it makes them feel - it's satisfying.
You also get to make all the calls and decide who to work with and where your business will go. You get to make mistakes and learn from them and you ultimately get to decide your fate.
Owning a business is something to be very proud of, and even if you only do it for a short amount of time, you still did it, and that is a beautiful thing.