- Business and Employment
How to Survive Starting Your Own Business & Working Broke
Lots of Work and No Money
There is great freedom that comes from working for yourself. The dream of being accountable to yourself and being your own boss is wonderful. You are in control of your destiny and can do what you want when you want. No more suffering under the abuse of evil bosses who threaten to fire you, make you stay late or cut your hours. You are on your own.
Only, it is not all rainbows and butterflies. Starting your business and working for yourself is like being a pioneer. You are breaking new ground. Others have been there before, but this is your first time. It is hard and it is a struggle.
When you are working for yourself, you have to work harder, longer hours – sometimes with little to no pay. Bills start to pile up. There is no one to look to for help. It is all up to you. You are responsible for everything. Being the owner, you are working the hardest to get the business off the ground. If you are like most new business owners, you are starting out with few resources. With little resources, you are doing even more work because you can’t afford to hire anyone else to help.
Putting in long hours and multi-tasking with little income is what is called “working broke.” Working broke means that you are working, working and working but still broke. This period is a test for you to see if you have the will and determination to make it through this no money period.
Things that you can do to make working broke easier on your stress level:
- Don’t spend money for things you could get for free. Companies and individuals give away furniture and office equipment such as file cabinets, printers and bookcases all the time when they are upgrading or moving to a new location. I hate to say it, but you can also take advantage of failed business owners who are looking to unload all their now useless stuff. Look around and don’t waste your precious resources on getting brand new furniture.
- Learn how to do your own website, marketing and other services you would have traditionally farmed out to others. Be your own IT person and set up and network your own computers, make your own business cards and do your own advertisements. Learn to do these things for yourself to save on your overhead costs.
- Look for and seek out other sources of income for yourself - it is okay. Just because you are now a new business owner doesn’t mean that you have to starve. You need to eat, pay rent and not live on the streets. So, you have permission to work part-time somewhere, sell stuff on ebay or go on unemployment to help you make it through the rough spots. It does not mean you are a failure.
- Believe in your success. Keep trying to make your business work and keep your goal as a main focus to motivate you on your daily tasks. It is easy to get discouraged when you are working hard and not seeing the results you want or expected. Seek out the advice and expertise of others who have been where you are now and use their stories as an inspiration for your future success. They will help you understand that success will come only through hard work and give you advice about how they survived the hard times.
Working broke is difficult. Working so hard for no money seems to go against everything that you have been taught. It is not fair. It is hard. Starting anything of your own is hard work, especially your own business. It takes persistence to reach success. Your hard work will one day pay off. You are learning so many new skills and getting smarter every day. If you really want your own business, you got to keep working and get through this difficult time. Think of the freedom of working as your own boss and take it day by day.