Guess what – you are the boss now. The buck stops with you.
You are now responsible for invoices, payments, contracts, HR, tax, regulatory compliance, payroll, and the list goes on.
If you can afford to pay others to do all this, then I am happy for you, but most of us can’t.
For example I spent 4 hours last Sunday doing end of month payments, invoices and other paperwork. What I don’t do is to complain about work life balance.
The simple fact is that if you are going to set up a business you are going to need to earn your equity at times. The first couple of years when you are growing and cash flow is tight will be the worst.
You will bring work home.
You will work evenings.
You will start work early.
You will spend part of your weekends working too.
When you think you have finished a job you will have clients who ask for reworks when you have already fully allocated your time another client.
There are a lot of things that take up time and if you don’t act like a business owner and take responsibility it can destroy your business.
Be smart about it. Minimise your workload and if you can, try and fit it in during normal hours.
A local property developer put it well recently. “ When my friends hear about how much I am earning they imagine that I am spending all my evenings having lavish dinner parties with friends and celebrating the high life. In reality I am spending most of my evenings working and rarely get enough time to spend with my family.”
So, accept that the first year or two will be hard on your family and your work life balance and find ways to cope.
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