The Frustrations That Can Happen When Running Your Own Business

There are a lot of lessons you’ll need to learn as you grow into your role as a business owner, but one of the biggest is just how frustrating running your own company can be! Sure, you’re in a position you’ve always dreamed of, and you’ve worked hard to get to where you are, but the day to day running needs can still get on top of you. And being an entrepreneur in your own right can be incredibly frustrating too. 

Of course, some elements of owning your own business are great, and you wouldn’t change your setup for the world, but you’ve still got a complaint or two! So for any would-be business owners out there, here are the most frustrating and outright annoying parts of being your own boss; make sure you’re prepared for them before you take on this kind of responsibility. 

Via: Pinterest / * this is a collaborative post *

Only Having a Select Amount of Capital

The amount of times you’ll bang your head against the wall over the budget will be numerous! When you’re just starting out as a small business, you can be incredibly restrained by the capital you’re working with; it’ll be hard to even come up with the few thousand you have in the first place. 

But that doesn’t mean you’ll be stuck in place – as soon as you’re able to make a sale, you’re in with a very good chance of turning a good profit in the near future. In the meantime, make sure you’re operating off of a clear budget spreadsheet. Know what you’re spending each day to keep your company open, and what the average is for a small business like yours. 

Dealing with an Uncooperative Vendor

The vendors you’ll have to rely on during the early stages of your business career can be touch and go. A supplier is only as good as what they supply, and if you’re dealing with an uncooperative vendor who cannot communicate and is often late with resources, it’s best to jump ship and make a deal elsewhere. However, this change can be tricky to manage as well. 

It’s a good idea to put your complaints in writing, and make sure you offer some kind of resolution that favours the both of you. You want to be able to build a long and lasting relationship here, but that’ll only work if both sides are in agreement. So make your needs known, and if the supplier is still difficult, don’t waste any more time. It might be hard to find a new supplier at short notice, but it’s better than being chained to a vendor that just can’t make their mind up. 

Being Unable to Meet Growth Goals

Growth is the main goal most small businesses have in mind. When you first start out you end up imagining the day you become a big business all the time, and it can propel you forward in the best of ways. You might want to increase your market share, or diversify your product line, or simply open more than one office up and down the country – all of these are very worthy objectives for meeting an expansion deadline! However, meeting these goals can be a lot harder than it first seems. 

After all, you’re just one person, and you’ll need to build your team, your brand, and your customer base before any of this becomes manageable. And even when it’s time to move because you’ve outgrown your original premises, dealing with machine removal, packing, and transportation can be a real pain in the neck! All in all, it’s a long process that you’ll always be taking two steps forward and one step back with. 

It’s Hard to Find Talent

Finding talent to staff your small business is one of the most frustrating things at this stage in the game. After all, those who have the skill and experience to take your business to the next level often find bigger and better positions elsewhere, and it’s incredibly hard to tempt them away. Indeed, putting together a hiring process is difficult in itself, especially when you’ve got the other foundation jobs to juggle at the same time. 

But as long as you get in with a good offer, you’ve got a strong chance of bringing in big guns that can do wonders for your company. Get online and scope out networking sites, make as many connections as possible, and put together an interview offer that’s clearly better than the average. Be upfront and clear about your needs, the salary and benefits they can expect, and what you want out of a partnership. If someone knows they’ll have it good with you, they can often overlook a potential pay cut! 

You Feel Like You’re Always Out of Time

And finally, it’ll often feel like you’re nearly out of time and the market has already moved on. No matter what you do or how you do it, it’ll be too little too late, and from time to time you’ll have doubts over your ability to be a business leader. And yet, feeling like this can be a good thing – it’s a surefire sign you care about what you do, and it gives you a competitive edge that’ll carry you all the way to the finish line. 

So, even when you’re working to a deadline, your efforts won’t be for naught. You’ll learn something from everything you do, and this knowledge will go a long way to future proofing your company. You’ll pick up new skills, even when it feels like you’re not making much progress, and remember, there’s always next time. Not giving up is the most important thing here; your company has a long way to go, but it’s already come so far. 

Running your own business has plenty of frustrating elements to it, but the pros can often outweigh the cons, and there’s always a play to make next. Keep this duality in mind if you want to become your own boss.