Dear Small Business Owner (shoutout to the start-ups),

If this is your dream, I encourage you and challenge you to pursue it. Being a small business owner isn’t for the faint of heart, but I can’t see myself ever being an employee again. I’ve worked for myself for so many years and love the challenges that come with this lifestyle. Sure, when I was an employee, I think I did a good job. Employees and business owners have very different mindsets and lifestyles. Neither one is right or wrong… better or worse… It’s about figuring out which one fits your personality and goals better.

Based on my experience, there are 5 qualifications I believe you must have before you jump in:

• Be an expert problem solver.
• Be willing to take full responsibility.
• Be willing to risk public embarrassment.
• Be comfortable with the uncomfortable.
• Be able to learn from your mistakes.

Be an Expert Problem Solver

Every. Single. Day. You will face problems in your business. That’s not an exaggeration. Most problems are small, annoying, and can be solved quickly. Some are more challenging. If you aren’t a problem solver, hire one immediately, because you won’t make it as a small business owner.

I just had a conversation with someone who was trying to gently explain why he couldn’t deliver the product I wanted in the way I wanted it. He was dancing around it, so I stopped him. This is what I said: “Tim, I’m an entrepreneur. If you tell me what the problem is, I can figure out the solution so we can move forward with this project.” He completely changed his tone and the direction of the conversation so we could get done what needed to get done. To be fair, he’s probably not used to authors being entrepreneurially minded. That’s another blog for another day, for my author friends. Most problems aren’t that big of a deal unless you make them one. Know what you actually want, what you’re willing to adjust, and solve the problems that come your way.

Take Full Responsibility

When you own the business, you can’t blame anyone else, even if it’s kind of their fault. It’s that whole “the buck stops here” mentality. There are times I could say it wasn’t exactly my fault because I didn’t know what I didn’t know. However, my response is always, “I should have asked better questions. When I ask better questions, I get better answers.” Sometimes I even joke that my mistake was an investment in my education from the University of Hard Knocks. If you can’t take responsibility for the results, I recommend not starting your own business.

Risk Public Embarrassment

Daymond John, one of the sharks on Shark Tank said, “If you’re not embarrassed by your first product release, then you waited too long.” Whew! I’ve put things out publicly, whether on social media or as products, and looked back thinking, that wasn’t very good. Immediately after, I feel proud of myself for trying. Most people never even try because they’re afraid of public embarrassment. Whether it’s being an entrepreneur or doing something you’ve always wanted to do, please don’t let others hold you back. This is a mindset that’s helped me over the years: if someone makes fun of me for trying because I wasn’t very good at something, then they can go figure it out and do it. There’s always, and I mean always, more behind the scenes than anybody realizes. I’ve learned that from being a vendor at events, public speaking, my podcasts, publishing books, social media content, and more… all of it takes a lot of work, moving parts, making mistakes, and doing it wrong just so you can get better. I choose to live courageously, and I hope you do, too.

Be Comfortable With the Uncomfortable

It’s uncomfortable putting yourself out there, making calls, and choosing the discomfort of getting things done instead of staying in my cozy bed. Hey, I could stay in bed, because I don’t have a boss. I’m not going to get fired. I’m also not going to have much of a business. Every day is a choice to be slightly uncomfortable to keep my business going and growing. Employees lose their jobs if they don’t show up. Small business owners lose their dreams. Ugh. The thought of my dreams being unrealized is so painful that it keeps me going. Make the call. Do the thing. Find what motivates you to stay in the lane of discomfort.

Learn From Your Mistakes

Everything I do initially is a test. How will it be received? What am I missing? What are people liking? How can I make it better? Making mistakes isn’t bad. Not learning from them is a travesty. Market research on the computer is helpful, but I love a true test among the people. For example, when I used to do vendor events at craft fairs and the like, people would ask, “What’s your book about?” Before I could even answer what my picture books were about, they turned the book over to look for a summary. This shocked me. Picture books are about 500–550 words, so I assumed people would flip through the pages to scan. I was wrong. Not only did they not let me answer, they were expecting a summary on the back of the books. Thankfully, when I contacted my publisher, she added summaries to the back of each book. This wasn’t a big mistake, but it was taking something and making it better based on real-life market research.

When I first started The Little Shot, LLC many years ago, I had slowly set back money for years to start this dream. That money was gone within a year. One. Year. I had originally intended for it to last several years. Your small business dream, especially if it’s a start-up, will take more money and more time than you could probably ever project. There are many great products and hardworking business owners whose businesses don’t make it. I know that’s a possibility for mine as well. So, I’m doing my best to create quality products I would want in my own home and to deliver speeches and podcasts that add value and uplift others. It’s content I feel good about sharing. That’s the only thing I can control. There’s a chance my business could shut down at any time. That’s the reality. The risk is worth it, because at least I will never have to ask, “I wonder what would have happened if I had tried.”

Wherever you are on your entrepreneurial journey, I want you to know – I believe in you! Keep going.

With love,

One Small Business Owner to Another