Do you love what you do? If so, and if you’re a small business owner, you’re not alone. The latest American Express OPEN Small Business Monitor survey found that a whopping 92 percent of small business owners are happy with their lives. Of those, 76 percent attribute their happiness somewhat or entirely to being an entrepreneur.
The recovering economy might have something to do with it. A growing number of respondents say they would recommend entrepreneurship to a friend or family member considering it (66 percent, compared to 55 percent in late 2009). That’s a significant shift in just three and a half years.
Consider, though, that even in the depths of the recession (2009) more than half of small business owners were satisfied enough to recommend others become entrepreneurs. I’d say that’s a pretty good recommendation.
If you’re considering starting your own business, you might have some doubts and fears about becoming an entrepreneur. How can you figure out whether you’re likely to love it … or want to run back to the security of being an employee? Here are some signs you might just love being your own boss.
1. You have a passion for your business idea. If the feelings that running a business elicits are lukewarm, don’t quit your day job. You will need passion to sustain you through the long days and nights of starting and building your business. That doesn’t mean you’ve got to have a groundbreaking idea—you can be passionate about being a CPA, too.
2. You have a lot of energy. Did I mention those long days and nights? It takes a lot of energy to keep up with the work required to be a small business owner. If you get energized by the thought of growing your business, that’s good news—because lots of what you’ll need to do might drain your energy.
3. You can see the big picture. If you start a business based on something you love, you might soon grow to hate it if you can’t think beyond that one task. You may love baking pies, for instance, but running a pie shop requires lots more than baking—it requires sales, accounting and operations skills, too. You’ll need to identify all the moving parts of your business and, if you can’t handle them all, hire or partner with people who can. Ideally, by doing so you’ll be able to keep doing more of what you love (creating new pie recipes) and less of what you don’t (the aforementioned accounting).
A SCORE mentor can help you figure out whether you’ll love being your own boss—and if you already run your own business, they can help you figure out what changes you can make to love it even more. Don’t have a mentor? Visit www.score.org to get matched with one and get free advice 24/7.