Ever pondered pulling the pin?

There were many days when I was a full time solo business owner that I thought I would pull the pin, throw in the towel, get a proper job and really do something with my life.

After all, there are so many reasons not to fly solo.

1. Cashflow

The thought that lingers in the back of your mind: if you lived on what you made as a solo business owner, however well business was going, one bad month could wipe you out.

2. Boredom

Come on admit it, how sparkling is your own company after a while?

3. Opportunity cost

Every year you are a solo business owner is one year you didn’t drive a corporate BMW, earn nine per cent superannuation or twelve monthly pays, fly business class on the company and create another impressive line on the corporate resume.

4. Stagnating

Without a corporate expense account to pay for studying, seminars, training and other personal and professional development, the risk is you are trading on decade-old knowledge. And every year you lose some more currency.

5. Status

You have none.

6. Paid holidays

Well, lack of them really.

7. Business networking

The constant need to think of the future of the business and network, promote and attend finger-food functions.

8. Vendor mode

Always feeling like you’re ‘the help’ can get you down.

9. Lack of intellectual stimulation

When you start the business, do all the work and only take on new work you know you can do it, your brain is in danger of withering and dying.

10. Insecurity

You can’t really plan because you don’t really know if you will have work and whether the business, and you, will be secure.

11. Settling

You may enjoy your work to an extent, but what if it prevents you from finding your true calling? You know, really doing something with your life.

12. Multi-tasking

Having to do everything, every day. 41% of survey respondents agree that wearing too many hats is a big issue.

13. Customers

Some of them drive you crazy, but you always have to be nice to them.

No wonder I threw in the towel and got a Proper Job.

Why haven’t you?

Karen Morath of M Power consults, trains, speaks and coaches in public relations, personal effectiveness, life balance and all things empowering.

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

Goodness me. Isnt that what soloism is about?
Who hasnt felt like throwing in the towel more than once. By not doing so BUILDS the soloist character.
Over twenty two years as a soloist Ive been tempted many times but there was always something holding me back. Never give in, even when its hurting because its all part of being successful. There's no gain without pain.
Thats my opinion patrick Burgess from north Ryde NSW
Cor blimey Karen, this is a bleak picture isn't it? I get the feeling you're trying to stir opinion...well you've stirred mine.
Here's my somewhat hasty response to your 13.
1. Cashflow
Okay, so cashflow can be a bit of a bugger, but as our recent survey showed, most soloists are doing somewhat better than the national average when it comes to income (and many considerably better).
At least in a solo business you are in control of your financial destiny. The decisions are yours. The terms are yours...and when you strike gold, it's ALL yours.
2. Boredom
In 20 years I can honestly say that boredom has never been an issue. How can you be bored? Successful soloists know they need to stay connected and so long as they have an inspiring vision of the future, boredom simply does not feature.
If you're bored in a solo business, you'll be comatose in a Proper Job.
3. Opportunity cost
Why do corporates throw so many perks at you? Because it's in return for your soul. You can keep your shiny bolt-ons. I'll stick with my fresh air, cranked up music and breaks when I please, thanks.
4. Stagnating
See point 2. above.
So people in jobs don't stagnate? H-e-l-l-o.
5. Status
Yours: You have none.
Mine: What I have is what I deserve. In a solo business you don't get put on a pedestal, you choose your position and you work to attain and retain it.
See point 4. above.
6. Paid holidays
Personally I holiday a little every single day. In a solo business, it's more finding 'balance within work', rather than between life and work.
BTW have you filed your Holiday Requisition Form yet? Best hurry, school holidays can be v popular!
7. Business networking
Yours: The constant need to think of the future of the business and network, promote and attend finger-food functions.
Mine: The constant excitement of the future and the ability to bounce off like-minded people while scoffing finger-food.
8. Vendor mode
Er, what part of 'service industry' do you not understand?
9. Lack of intellectual stimulation
Now I know you're kidding. I have met you Karen and know very well you have a brain the size of a planet.
Are these recent symptoms? What can possibly have brought this on?
10. Insecurity
Yours: You can’t really plan because you don’t really know if you will have work and whether the business, and you, will be secure.
Mine: You are able to plan because you are the master/mistress of your destiny and you have planned your business accordingly.
11. Settling
You're starting to worry me at this point Karen!
12. Multi-tasking
There's no doubt multi-tasking can be a challenge. Funny, I heard a whisper that it even cropped up in Proper Jobs...in Life even?
13. Customers
Personally I adore my clients and customers and LOVE the fact that as a soloist I can choose and can work to attract ideal people into my business.
No doubt in a Proper Job they're all gorgeous and you can simply delete the ugly ones.
Er, don't think you'd be too popular actually.
Can't wait to see this thread expand! Robert Gerrish from Flying Solo | Read my articles
Truthfully, this article by Karen M. initially made me feel depressed, then I thought of all the positives and bounced back. Yes, there are loads of negatives but no, I would never 'pull the pin'. I made my choice; I have worked solo for over 20 years and now would not choose any other way. I also choose to make something special of each day or, as Robert says 'holiday a little every day' , because I don't want to get to the end of my life and say that I didn't enjoy my 'normal' days. Every day is a new day. My choice - me flying solo wins and I feel like I'm contributing and doing something worthwhile for myself, my family, my clients and friends. - Karen C. Karen Curran from Springwood
Robert,
me stir opinion? He he he... What a waste of my 'planet sized brain' (thanks for that!) that would be!
Karen Morath karen morath from Melbourne | Read my articles
Point 11 is the Key here I think. I already think I am fulfilling my potential and making a HUGE difference to the world, which is why the other points are not even a factor to be considered!
Thanks for the thought provoking article - I think it is having the desired effect on a lot of soloist! :) Devan from Darwin NT
Hi Karen,
Winston Churchill once said that "democracy is the worst form of government ever invented except for every other form of government".
I think he was saying that the bottom line is that every situation has its challenges, but, when looking at alternatives, you might realise that big cloud actually does have a silver lining!
Personally, I can't understand how adults can tolerate the misery of commuting to and from a cubicle where they get told what to do and when and how!
Good Luck,
Grant Grant Hyman from Sydney | Read my articles

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

Add Your comments

Preview comment

Name

Website *

Town / city and country

Email (never sold, displayed or given away)

* This will link your name to your site. So please avoid self promotion elsewhere! We delete spam, disrespectful or off-topic comments.