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10 Ways I Rekindle My Love for Business

This year, I celebrate ‘writing my check’ for the past 30 years! Being a business owner is the one thing that I have been doing for the longest part of my life. Looking back, my journey has certainly been eventful. Would I do it all over again…for sure, without a doubt.

Yet, the past 30 years have not been without its challenges. A fellow business coach summarised his journey as an entrepreneur “as being 80% of the time a daily slog and only 20% filled with moments of celebration and a sense of achievement.”

Published statistics on business success in South Africa tell a story that is far from inspiring: 40% of businesses fail within the first three years, 49.9% within five years, 65.8% within 10 years, 73.3% within 15 years, and nearly 80% within 20 years.

Here's my sanity test – the upsides and downsides of owning a business.

The upsides of being an entrepreneur include flexibility in one’s schedule, autonomy in decision-making and conditions of work, potentially unlimited income, having a positive impact through leadership, and fulfilling a personal sense of purpose. I have always felt a sense of gratitude for employing people and thereby allowing them to learn, develop new skills, and earn an income. Perhaps the biggest upside is building a business aligned with one’s beliefs, values, and vision of a desired future. This brings about a sense of success, pride, and fulfilment.

Throughout the past 30 years in business, I have also met many other inspirational individuals and enjoyed the companionship and company of like-minded people.

The downside includes periods of financial instability and uncertain income, stress related to risk and failure, challenges in managing people, burdens of responsibility, and feeling isolated. The path of an entrepreneur is often a lonely one, where one often questions the feasibility or sustainability of a business. Exhaustion due to long hours can result in burnout and a sense of disillusionment.

Keeping a renewed sense of purpose and drive becomes a test of personal resilience and commitment.

To rekindle my love for my business and journey as an entrepreneur, I find value in the following 10 tips:

  • Regular time away from my business to rest, reset, and rejuvenate. This is critical in maintaining the levels of energy needed to always be the ‘best version of me.’
  • Continuously align my business with my beliefs, values, and life’s purpose. Reconnecting with a strong ‘Why.’
  • Embrace failure, disappointment, and challenges with a learning, development, and growth mindset.
  • Get comfortable with being uncomfortable, stepping out of my comfort zone, and learning new skills.
  • Surround myself with positive, inspiring, and optimistic like-minded entrepreneurs and business leaders.
  • Invest in a talented and skilled team that continuously adds value, accepts ownership, and is willing to be held accountable.
  • Lighten up…reminding myself to tread more lightly and not burden myself with unnecessary responsibility and concern about the future.
  • Practice daily reflection and gratitude.
  • Explore possibilities and potential in conversations with reputable, objective advisors, mentors, and coaches.
  • Always celebrate wins and successes in business. Take stock of the growth, profit, and new business.

In conclusion, I am inspired by this quote from Peter Drucker: "The best way to predict the future is to create it." As an entrepreneur, I get to be the captain of my ship and the master of my destiny.