Being a single mom with two young children in the early 90’s, my dream was to provide them with a stable childhood free from worry.
In my mind, realizing that dream necessitated owning my own business because as an employee, I felt I had few choices. I had worked for a small company that specialized in HVAC (Heating, Ventilation and Air Conditioning) for many years and eventually became a 50% owner of the business. Initially, I was elated, thinking, “I did it! I am a small business owner and I’ve achieved the American Dream.”
What I didn’t realize was that in today’s economy, this “dream” can quickly turn into a nightmare.
The Price of Business Ownership
There was so much more to small business ownership than I had ever realized or anticipated. I know my fellow small business owners who are reading this can truly relate to the following experiences I dealt with: The price of business ownership is enormous, not only monetarily, but also with your time. The overhead costs such as mortgage or rent, utilities, payroll, payroll taxes, worker’s compensation, commercial liability insurance, insurance benefits and 401k plans for the employees and so on are staggering. As an owner, I now had so many choices to make and my thoughts and worries never left the business; I often felt like my business owned me!
Try as I might, I was unable to be truly engaged with my family because I was consumed with worry; the biggest of which was “from what line of credit can we borrow if we don’t bring in enough revenue this month?” As much as I loved and was successful at my business, the stress was simply oppressive.
I’m happy to say that I have since sold my ownership interest in the HVAC company and have embarked on an equally fulfilling and challenging business endeavor, but without all of the stress! I absolutely love what Moms Making Six Figures has given me and I love what I do.
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