Everybody runs their own business

Peter Crocker Whether you’re leading a team from the corner office, crafting clothes from the kitchen table, working in a shop or bringing up children, I hereby declare you a solo business owner. You are the CEO of You Inc.

Life’s big challenge, just like in business, is turning the limited resources available into something we find rich and rewarding.

You can take a businesslike view of life by breaking it down in this way:

Resources - we have finite time and energy to invest in different parts of our lives.

Costs - nothing is free, all our choices have financial, personal and opportunity costs.

Income - we need to find ways to replenish our cash and energy reserves.

Profit - we each strive to meet our definition of a success in life.

To meet the financial costs of living, we typically exchange our time and energy for money.

When it comes to selling our time and energy, we have a choice about how to package, price and promote ourselves:

Sell the lot. The corporate banker working in a major firm chooses to package up all their time and energy and sell the lot for the price of a couple of hundred thousand dollars per year.

Sell a fixed amount. Many choose to package up some of their time and energy into 9 to 5 blocks and sell five days per week to one client for a negotiated annual salary.

Sell it by the hour. Many soloists and freelancers package up their time in hourly blocks and sell it to a range of different customers.

Turn it into products. Others use their time and energy to create products and solutions that they can sell at a profit to hundreds of different customers.

We all have a limited amount of time and energy to invest each day. I believe the fact that we each control what we do with those resources puts us in charge of our own solo business.

Whether we decide to sell the lot or sell a few hours a week, true success is finding that elusive balance between professional and personal fulfilment. It’s different for everyone and seems to be a moving target.

I better go and keep looking. If you find it, please let me know where it is.

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Until next time.

Love your work,

Peter Crocker is a director of Flying Solo responsible for the areas of marketing and advertising. He is a business copywriter specialising in websites, videos and marketing communications.

12 comments | Add your own 1 2 | Next» View all»

Brilliant Peter - what an interesting metaphor! I think it is when you can harmonise business and personal success that success is benefitial; when you can feel satisified doing what you have done. But then, what about Leave? I have to say that most importantly, I would invest in my family - but you didn't list them there. Also, I think alot of small business owners would fall into the category of "Sell The Lot". Whether or not they intend to, it seems they spend hours after hours working on what they have decided to do. But perhaps that is just a small business owner who is disorganised. I know I would prefer to sell it by the hour. -Jess, www.zulugraphics.com.au Jess from Zulu Graphics, Newcastle
Thought provoking, sometime in small businesses you have to “do what it takes” to get the job done, and that sometimes takes your time away from other important areas in your life. I think that it is about working smarter not harder, that can help keep the balance. And finding that “smarter” is the challenge. Jack promobasics.com.au Jack from PromoBasics, Lake Macquarie
You're right on the button. I believe that personal prosperity is the first step to all success. Randy Gage says it all at http://tonyscarcia.blogspot.com/search/label/Personal%20Development Tony Scarcia from Brisbane, Australia
'working smarter not harder' ??? working solo is hard work and only because we are smart enough to have a go. i think writers need to invent new cliches!
Catherine White - Civil Celebrant Catherine White from Sydney
Finding the balance - If running your own business isn't enjoyable you have to ask yourself 'How can I make it enjoyable?' - this will get you to stop reflecting on the negatives and focus more on solutions. Try something different. I always said to myself that I work best in the mornings and not at night but just this week I'm trialling having a break at 5.30pm - 7pm to help my wife with our two young children getting them to bed and then working from 7-9pm. Even having a change of routine feels great. But more importantly that came as a result of working out what things in my life weren't the way I wanted and just trying something different. My wife and I are both enjoying the very newly formed routine! Clint - www.financingsydney.com.au Clint Paton - www.financingsydney.com.au from Sydney
Are you a mind reader Peter?! I am struggling to find the right balance due to being a natural giver. I have now created what I call my happiness bank which I put a deposit into each day - it was created last week after realizing I had been so busy helping other people I was empty!! The emptiness was making me irritable and grumpy so I didn't want to help people anymore! Making time for yourself is the key to creating more sucess - if you are happy within yourself people are more likely to be attracted to you and want to use your services instead if someone is feeling tired and put upon!! Leisa from Perth

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