I have a friend who is in the hospital. I have no doubt that the stress of running his struggling business was a contributing factor in his illness.
The fact that his business is in trouble is not his fault. My friend started his business over a decade ago and his business was trendy then. But times have changed in the 10 years since the conception of the enterprise. He has much more competition who offer speedier delivery, traffic patterns to his location have changed and the trend for his product has also changed.
Tied in with leases and costs, my friend was unable to change his model of operation and his expenses mounted. As a result of the economy, social demographic preferences and competition, the business started to decline. It's hard to upright a sinking ship, and despite his late efforts it was difficult to turn around his business.
The stress of this business, combined with whatever else was going on in his life, bore a huge burden on him and he has ended up sick.
I know from experience the shame that business owners experience when their businesses are not successful is immense. As business owners, and even managers of businesses, we think that somehow the business is a reflection of who we are.
But the truth is that the business isn't us.
We have lives outside our business that are so much more important than the company or the work itself. Our families, our friends, our community, all want us to be healthy and happy. Yet somehow we feel that every ounce of our energy, every thought of our day, every essence of our being, needs to be focused on fixing our problem company.
There are times when the problems are insurmountable, the mountain to high and the road to success too long. In those cases, we need to realize that we can't let the business take more than our money. If we can't turn it around, we need to shut down the failing business. We can't let the business consume our spirit, our health, or even our lives. Because businesses, especially ailing businesses, can take everything. Their hunger for us can be insatiable and if we let them consume us, they will.
I remember once when I was struggling in business and felt like giving up, Terry Wilson, a friend with no apparent business experience, but obviously some wisdom, came by and said, " Don't worry Dave, this too will pass."
I will never forget the feeling that came over me when he said that. I knew then and there, that it didn't matter if I failed in my efforts. I knew that others were with me in my struggles. That as a person, I was more important to him than my success or failure.
Some of our best learning experiences in life come from times when we have been at our lowest. But when we are going through that tough time, when we are reaching out for help, when we feel alienated, alone and in despair, that darkness can feel like it's going to overcome us. At times like this, we need others to reach out and tell us that they care, that they support us and that we are more than our businesses.
Owning a business can be really tough.
There are the long hours, the sleepless nights, the financial struggles, staff and customer issues. When it goes right, (which is about 40 per cent of the time) owning a business can be a joy. But most businesses are never, or only marginally profitable. If you know a business owner who is struggling, do what you can to support the business.
But more importantly, show them that who they are, is more important to you than whether they succeed or fail in that business.
Let them know you care.
Dave Fuller is an author and business coach. He can be reached at 250-617-7467 [email protected]
