Small Business is Overrated!

Below post written by:
Brian Moran
President
Moran Media Group

A friend of mine recently sent me a link to an article published by U.S. News. It focused on best/worst careers. Among the most overrated careers was being a small business owner.

Most overrated career? Huh?

Thinking it was a practical joke, I clicked on the link and read the following:

The Appeal: Work for yourself, and you are automatically the CEO. You get to make all the decisions, set your own hours, and keep all the profits. And you are inspired by the stories of other entrepreneurs who became wealthy.

The Reality: Most new businesses fold within a few years. There are good reasons. For one thing, running a small business requires you to be good at many jobs: salesperson, buyer, accountant, marketer, operations manager, even janitor. Few people can do it all. Yet hiring others often cuts too deeply into profits. In addition, you must be a self-starter, no one is going to make you do anything or structure it for you. It's all on you. Even though you set your own hours, they tend to be long. And you have to provide your own healthcare and other benefits. For an individual, that can be very expensive, especially if you or a family member has a pre-existing condition.

Alternative: Be the No. 2 person in someone else's small business. You'll have a seat at the table and a say in company decisions. But you'll go home with fewer headaches than the owner does. And probably go home earlier.

In addition to small business owner, below is a partial list of other overrated careers.

- Advertising executive
- Architect
- Attorney
- Chef
- Chiropractor
- Physician
- Real estate agent

What the writer fails to realize is that the overwhelming majority of people in the professions listed above ARE small business owners. In fact, 98% of all businesses in the U.S. today are small businesses (ergo, the list is redundant by adding small business owner to it).

But I digress. The real reason for today's post is to respond to the ludicrous title given to small business owners by the writer and U.S. News.

First, has any entrepreneur EVER considered their journey to be a career? I left my career in 2002 when I decided to start my own business. I left the corporate publishing world (and places similar to U.S. News) when I decided to stop subsidizing mediocrity. For me, corporate America became a game of 'decision by committee' and 'cover your arse' when things didn't go right. In 2002, people were afraid to make decisions for fear of losing their jobs. Take a chance? Are you CRAZY??

Is being a business owner hard? Absolutely.

Do I have stress, sleepless nights, worries? You better believe it.

Do I worry about things like sales, cash flow, the economy and ever-rising healthcare costs? Yes sir, I do.

Would I give up all of the above to be a #2 somewhere? Absolutely NOT!

For those of you reading this post and have never thought about running your own company, there is no possible way to explain the joys of being the lead dog on the sled team. For those of you who are currently part of the economic engine which drives the greatest country in the world, no explanation is necessary. You know exactly what I mean.

I have a quote which I read from time to time. I can't remember where I read it or who said it, but it is certainly appropriate here:

Most people choose to sit as spectators in the Grandstand of Life, rather than risk the Arena of Conflict to wear the Crown of Victory.

Thank you U.S. News for giving me the opportunity, in this New Year, to reaffirm my belief that being a small business owner is greatest career I could have possibly chosen for myself.

Carpe Diem!