Are you one of the happiest entrepreneurs in the U.S.?
By Nina Kaufman, Esq.Nancy and I were sitting on a chic white leather couch at Pranna, one of NYC’s newer Indo-Asian-fusion restaurants. Having a glass of wine. Exotic music thumping in the background. The after-party of a speed-networking event. Nancy has owned her consulting business for about five years, having left the stifling corridors of corporate America. She spoke passionately about her work. Clearly, she was talented. But something was off.
“Are you happy being a business owner?” I asked.
Nancy looked down. Drank deeply. “I’m not sure if I made a mistake,” she said. “I’m tired all the time. I’m doing everything. This really is a lot harder than I thought it would be. I mean, you hear the stories where someone gets started and everything clicks … and five years later they’re out of debt and living the life of Riley. What am I missing?”
According to the Global Entrepreneurship Monitor’s 2013 U.S. Report, she’s probably missing about 6 employees.
Whaaa?
The GEM study found that entrepreneurs who reported the highest degrees of well-being and satisfaction were established business owners. Women especially. More content than owners of start-ups, and definitely happier than non-entrepreneurs.
In short, happiness levels surge as their businesses mature.
And a mature business means a business with a workforce other than you.
Can your company afford to stay where it is? Chances are, you recognize it can’t. Hiring employees can create a paradigm shift for your company, if done carefully and with advance planning.
But where to start?
TIP: Look at where you’re spending your time. Are you on the front line or the back office?
Business owners often take the “summer pool” approach to hiring employees—especially when they are overwhelmed and have reached crisis/exasperation limits. Summer pool = “throw someone into the mix to see if they sink or swim.” Business owners hire people (often younger workers, because the salaries are lower) and expect them to “figure it out” or have a wider range of skill sets than is humanly possible.
Instead, spend a couple of weeks tracking your time to see where patterns emerge. You’ll have a far clearer sense of what your priorities are, and the experience levels you need them to have.
Need help building your workforce? Contact us, and let’s create a plan to make you a happier entrepreneur.
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