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The ups and downs of being a small business owner

Running a business brings with it a number of risks and rewards.

We asked members of our Facebook group, I’m a small business owner in Western Australia, what the best and worst things are about running their business. Here is some of their collective wisdom…

It gives you a sense of purpose

One of the overwhelming positives of running a small business is that you can build it around your passion and purpose.

“Doing something you’re passionate about.”

“The satisfaction and thrill of building something, seeing it all come together and grow. Knowing that I’m contributing to something bigger.”

There’s also the feedback you get from others

It’s always a nice lift when customers take the time to recognise your work.

“Acknowledgement from clients who are extremely happy.”

But it also takes a personal toll

Our members agree, the biggest negative about running a business is how it can impact you, especially mentally.

“The toll it can take on me and those around me when I don’t consciously manage my time and energy well.”

“Harder and longer hours than going to work for someone else but not earning as much.”

“Having to make every decision about everything all of the time.”

“Always being responsible, long hours and quality time lost with family and friends.”

The most important asset to your business is you. So make sure you are taking practical steps such as managing your stress and anxiety and making the most of the free wellbeing support services dedicated to small business owners.

The things in-between

Sometimes, there is a fine line between the best and worst parts of running a business.

“Best: Getting to do things the way you want to do them. Worst: Getting to do things the way you want to do them.”

“Con – It’s all on me. Pro – It’s all on me.”

As a small business owner, you’re in charge of everything. But that doesn’t mean you have to go it alone. When you’re the one everyone turns to as the business owner, remember that you can turn to us at the SBDC. This includes:

We understand exactly how hard (and how rewarding) it can be to run your own small business, and are here to support you.

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