It’s almost the end of the tax year. I’ve just had a quick check of my spreadsheets and I profited 3 months this year. I suppose that doesn’t sound good does it? Well at least I’m doing better than Snapchat.
Being in work does not mean savings in the bank. And if the news is anything to go by it’s no different whether you are an employee or self employed. Be honest, when the last time you weren’t living off the balance of your credit cards or stalling on one bill to pay another?
I cut up all my credit cards when I started my business. I’ve never taken out a loan and I don’t owe anybody anything. It’s far too risky. Despite the lack of profit, I consider myself to be in a relatively privileged position. I run very low financial risks and I’ve kept my outgoings to only what I need.
The brutal truth of business ownership is that there are no guarantees. Running your own enterprise certainly doesn’t mean you will have more money than your employed counterparts. And it comes with far more risks.
You have to keep your head about you, pull on the reins, slow down and be sensible with your cash. And that is largely a life experience. Impulse buys are nothing but a pipe dream for me these days, and every single penny is accounted for on spreadsheets. I could tell you what is in each of my bank accounts at any one time. If you’re not money savvy, running a business probably isn’t for you because things can very quickly get out of control.
But the rewards are endless. Quality of life, freedom, that feeling of something more tangible than helping line the pockets of a bigger company. And I think that’s a worthy sacrifice over a few pints on a Friday night. I can’t imagine living my life any other way, so I’ll take the risks and sacrifices, for happiness and enjoying every day as it comes.