American Express recently conducted a survey of Canadian small business owners as part of its overall marketing strategy to determine the attitudes, perceptions, and perceptions of small business owners regarding starting and managing a small business and what keeps them motivated. . The results were astonishing but not surprising. These are some of the points to take away. Small business owners spend an average of 55 hours a week Small business owners spend almost every weekend catching up on work and no plans to take time off, but they wouldn't do otherwise. 62% of the respondents said that not taking regular vacations to decompress and recharge their energy does not bother them. 64% said they would not think twice before doing it all over again.
American Express recently conducted a survey of Canadian small business owners as part of its overall marketing strategy to determine the attitudes, perceptions, and perceptions of small business owners regarding starting and managing a small business and what keeps them motivated. .
The results were astonishing but not surprising. These are some of the points to take away.
Small business owners spend an average of 55 hours a week
Small business owners spend almost every weekend catching up on work and no plans to take time off, but they wouldn't do otherwise.
62% of the respondents said that not taking regular vacations to decompress and recharge their energy does not bother them.
64% said they would not think twice before doing it all over again.
The poll goes on to say that respondents said they wouldn't have it any other way. The thrill of running a business stems from having a hand in every part of it.
Most surveyed small business owners said the number one reason for not taking more time off was because they didn't want to give up control and worries about not making money while out of the office.
A small portion of business owners said that more qualified staff would facilitate business management, but the majority of 39% are unwilling to spend the time and resources necessary to train and develop staff to help alleviate tension.
This is exactly why so many small business owners are overworked, not as happy as they want to be, and have not achieved the financial wealth they desire.
Your egos will not leave you!
Why do I insist on this so much? Because this mental garbage is the biggest obstacle to the success of small businesses. The only thing that stands in your way and success is YOU!
The only person who links working long hours, never taking vacations, and not spending time with your family and success is YOU!
It does not have to be this way.
See how none of the respondents in this survey talk about using systems to automate the process of growing a business, training employees, and executing sales and service processes. This is not traditional. This is hard work that facilitates success.
It makes me sick to my stomach to hear small business owners say they need to have their hand in all day-to-day operations. That is an excuse for being disorganized and having too big an ego as to your place in your company.
A great company cannot function without the entrepreneur in the image, this is true. But they don't have to be answering the phones and doing daily work. You should spend time doing the things that make the most money. And it doesn't take 55 hours a week to do it.
You have to close the door, withdraw from the B.S. baby games that detract from the core business purpose and create systems and programs that bring money. We call this "Operation Money Suck".
When doing "Operation Money Suck", the fundamental key is to create programs, marketing, ideas and systems that make your business run efficiently and effectively without your participation.
Do only what you are qualified to do and pay and pay well for others to do the rest. Dividends will come back to you in multiples.
Most small business owners try to bleed and save for profit and this only leads to a life of stress and mediocrity.
Build marketing and success systems, hire great people who are smarter and better than you, invest in your education until you die, gain life-long knowledge from others, and absorb, steal ideas that work in other industries, and apply them to Yours: The things that will make your business and life enjoyable, simple and prosperous.
Otherwise, you are doomed to kiss your clients' bottoms and compete on price for the rest of your life.
