Small Business or Startup
Now to confuse you further a small business can be a startup and a startup can be a small business!
Either way, it will be a rollercoaster of emotions and maybe a success or failure and you may have no money or you may have enough money. The founder or small business owner is generally fairly bright and a little bit of a risk taker. He or she finds the nine to five dull and the idea of working for the man even duller. They may be expecting to change the world or just their own world and may show signs of premature ageing during the process.
You perhaps have heard of Canva – They have been called a startup unicorn and has grown fast, taken on big investment and gained market dominance in a relatively short length of time.
There are many founders/business owners who are chasing unicorn status, but is it the be-all and end-all of business? You can choose to start a small business grow within limits, become profitable and have wonderful happy customers.
The simple life
Don’t underestimate that it is still going to be hard work to have a business of any size assuming you want it to sustain your lifestyle. As everyone’s lifestyle is different so can your business be – different! You can create as much or as little freedom and responsibility as you want or need. The ultimate work/life balance is attainable.
You can have no employees or a few and they will be a priority for you. A Larger startup may be on a hiring spree that then sends the business broke as they couldn’t sustain the growth. The small business you have can be all about the people in your business. A personal touch is much easier to provide and you are more likely to provide unbeatable great service.
You won’t be poor
Just because you choose a small business it doesn’t mean that you will be poor. Of course, you make less because your company is not a billion dollar company. Note that not all billion dollar companies actually make money.
You do have the chance of creating a million dollar company or multimillion dollar one and still be small. Your overheads will be lower and your profits remain in the business or your own pocket.
Grow or don’t grow
You don’t have to stay small forever and a day, you can grow or not grow, the choice is going to be yours. If you choose to grow and take on investors your small profitable base will be strong to attract investment. Or you can use your own funds to grow and keep full ownership, utilise the knowledge you have and scale your business.
Small business or startup doesn’t really matter. What matters is working hard and achieving success on your terms. So there is no time like today to now after your goals and have the business you dream of. Be wealthy and satisfied with the choices you make and know that wealth and success are not just measures in zeros.
If you enjoyed this blog, make sure to subscribe