Reflection: What Does Independence Mean to Small Business Owners

July 3, 2016 by Ed Becker

With the 4^th of July weekend, we all are thinking about independence and freedom. We support our rights to American freedoms, we honor our Military personnel for their sacrifice and service to ensure our independence. One of the important freedoms is the privilege to be a small business owner, to compete in the market with your ideas and products without being bound to a boss. So what does independence mean to small business owners and how can you become more independent in your small business?

What does independence mean to small business owners?

Independence for small business owners means that anyone with the drive and determination can become a business owner. Whether it be through a Multi Level Marketing (MLM) or actually a personal dream with a product to sell, or somewhere in between; anyone can own a business. They can have the freedom to set their own hours, choose their target market and be creative.

It means business owners have the flexibility to decide where and what their business will be, how they want to run it and grow it. It means that the owner gets to make the decisions all on his/her own.

Freedom. Independence.

On the flip side of all that positive, it also means that whether or not the business thrives or tanks is on the shoulders of the business owner. It means a huge responsibility to yourself, your family and your employees.

It means hard work and sleepless nights, high levels of stress and worry. It means knowing that you can take the day off if you have a sick child, or take a vacation when you want, but this often means less relaxed time off. It also means the feeling of accomplishment and pride.

How can you become more independent in your small business?

During the infancy stages of small business ownership, there many long hours, many hats to wear. But there are ways that you can be more independent in your business so that it does not become a dread in the same way that working for someone can be.

• Surround yourself with a solid tribe

Your “tribe” are the people in your life and your business that support you and cheer you on. They have like-minded goals and passions, they energize you and hold you accountable. You want your tribe to be very positive. A single negative person, could bring everyone down very quickly and create a negative energy. You want highly positive, driven and energetic people surrounding you that will push and prod you on your path with love and support.

• Hire a business coach

Business coaches are a very high priority for small business owners. You need that one go-to person that you can bounce ideas off of, vent, learn from and to hold you accountable in a much deeper way than your tribe. A coach has more experience and training to help guide you in your business. They can show you ways to be more independent in your business.

• Outsource

Outsourcing is a perfect option to delegate tasks that tie up your valuable time. You can be more independent to work ON your business rather than IN it, if you outsource the tasks that you hate, that you don’t have great skills in and the tasks that simply waste your potential for making money.

• Be diversified

Do not put all your eggs in one basket. Whether it be in marketing or vendors and suppliers. You want diversity so that if a catastrophe happens, you have a backup plan.

We live in an amazing country where we have the freedom to be independent business owners with much ease. It is also an amazing time in the world to be an independent business owner, with the availability of the internet almost anyone can have a global small business without a large investment. Independence and freedom are truly something to cherish.